Sublime

Peter Drucker.

Livingston: Did a lot of people not have resources to implement your ideas at the time, because the Web was still emerging? Greenspun: People used to say, "Why should we pay you guys $30,000 to $50,000 a month to do this thing, when we can just hire our own programmer?" What I would tell them is, "Each company has one class of stars.

Entrepreneurs who sought venture funding usually did not need to invest any more personal money into the venture than they had already spent to bring it to life. But some venture capitalists did demand more. Arthur Rock, the senior dean of American venture capitalists and an early investor in Intel, always insisted whenever his venture firm put mon

Big Fish, Small Pond: Positioning to win a subsegment of an existing market

Se não podemos confiar que as forças de mercado da oferta e da demanda fixarão ótimos preços de mercado, e não podemos contar que mecanismos do livre mercado ajudem a maximizar nossa utilidade, talvez tenhamos que buscar outra solução.

A few examples include: Greed is good. Maximizing pleasure from consumption is the goal. A billion acts of selfishness will lead to a prosperous society. The social duty of business is just to maximize its profits. There’s no such thing as society, only individuals—that was Margaret Thatcher’s famous quote. Markets are efficient; other institutions

The trick to this type of market competition (and the key to Dan’s game) is either never to play in the first place or, if we play, to learn quickly when things are not going our way and cut our losses.

Avoid an adviser who offers to broker a discussion with a single client. You want to ensure there is competition for your business and avoid being used as a pawn for your adviser to curry favor with his or her best client.

the odds are the same for everyone in the game. The key is to play bigger by doing everything in your power to increase your odds. It won’t guarantee winning, but it gives you a better chance than others around you—and