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 thatContinue reading “Pure Decent Books About How the World Works – May 2016”

Can you teach entrepreneurship? Part 8: When to sell?

Sell when your company has achieved its mission. Sell when you have run out of ideas. Sell when the buyer offers a price that you feel reflects the company’s full potential. Theories on when to sell vary from the philosophical to the economic. These three mental models, gleaned from the work or writings of Elon Musk,Continue reading “Can you teach entrepreneurship? Part 8: When to sell?”

Can you teach entrepreneurship – Part 6: Mastering Market Size

A startup’s market size must be big enough to justify any upfront investment. Applying this logic suggests $5 million is a very minimum empirical market size for software startups. The same logic suggests very minimum market sizes for hardware should be larger, and, for pharma, much larger. Rigorously validating market size requires time and money and thisContinue reading “Can you teach entrepreneurship – Part 6: Mastering Market Size”

Please stop giving me things for free

Dear Spirit Airlines, I recently booked my first flight with you Spirit and was pleasantly surprised. You are the first airline I have seen to charge separately for carrying on a small sized suitcase. As a passenger who wears only shorts, a light white vest and sandals – even to the winter olympics – IContinue reading “Please stop giving me things for free”

Could Donald Trump have made more money sitting on his hands?

The short version Plausibly yes. It does seem plausible that Mr. Trump could be richer today if he had invested his inheritance in a broad range of stocks and left it there from 1974 until today. The long version First, some assumptions (which you should feel free to argue with the the comments below). Assumptions: Assume thatContinue reading “Could Donald Trump have made more money sitting on his hands?”