Pure Decent Books About How the World Works – May 2016

1. Debt: The First 5,000 Years, By David Graeber. Great book because it gets us out of our very modern and restricted understanding of how money and debt work. Perhaps, most interestingly, it debunks the idea that financial crises are a modern phenomenon – rather, they have existed for millennia. The book also suggests that … More Pure Decent Books About How the World Works – May 2016

Part 9: Entrepreneurship = Luck + Talent + Wisdom

Based on what I know today today, I estimate that entrepreneurship is one third talent, one third luck and one third wisdom. Talent is not teachable and, at present, is very hard to identify in first time entrepreneurs. Luck cannot be taught nor bought but plays an important role in success, and, unfortunately, is often misinterpreted … More Part 9: Entrepreneurship = Luck + Talent + Wisdom

Part 1: Entrepreneurship is like evaluating a fancy bottle of wine

Based on taste tests, it turns out that experts are very bad at predicting the future price of fine Bordeaux wines – so realised Orley Ashenfelter, a Priceton economist. As told by Daniel Kahneman in Thinking Fast and Slow, when Ashenfelter built simple rules of thumb to predict prices he was able to achieve accuracy far beyond … More Part 1: Entrepreneurship is like evaluating a fancy bottle of wine

Marketing is the solution to our world’s water problems

It’s not technology! it’s not finance! Advertising, or perhaps more correctly, marketing is the solution to our water problems and here is why. There is a great solution out there to improving our water supplies. That solution is to reuse the waste-water we produce. As Paddy Padmanathan of ACWA Power pointed out today at the world congress in San … More Marketing is the solution to our world’s water problems

The Dirty Secret of Entrepreneurship

The dirty secret of entrepreneurship is that, to be successful as an (for-profit) entrepreneur, you need to excel at something that is useless in itself. In short, to be successful you need to excel at capturing the value you create. While, value creation can be productive for society, the efforts needed to capture value are, in themselves, unproductive. They … More The Dirty Secret of Entrepreneurship