Showing posts with label Bill gates. Show all posts
Showing posts with label Bill gates. Show all posts

Wednesday, October 27, 2010

Enter Todd Combs, and a few of my barely tangent thoughts

The news of Warren Buffet’s apparent successor hit the world on Tuesday, as Todd Combs suddenly became the most well-known, previously unknown person in America. Wall Street Journal painted an unassuming picture of Combs, only 39, who built his career mainly on innate ability and incredible doggedness.

There are two things I take away from this article:

1) Of course I’d like to find comparables in myself with Mr. Combs, but his tireless love of reading financial information, dogged pursuit to his trade, and love for “voluminous” spreadsheets are all qualities that strike a chord in me. Not to mention I think there’s considerable research to be done on the effects of probability assumptions in financial models.

2) Culture is becoming more and more important. I’ve listened to five interviews with Tony Hsieh of Zappos in the past week, and in all he trumpets the same view of culture. To him, culture drives brand and a lot more within a company. Culture is a “committable” trait, one he’s willing to fire someone over, no matter how good they are at their job. The benefits of a strong culture are becoming more apparent, from simply a workplace devoid of negative interactions, to decreased turnover, to a resolute brand that needs to conscious attention.

I’m fascinated by Mr. Buffet and his selection of his successor. I’ll continue to read voraciously about people that interest me, Buffet, Gates, Larry Ellison and Safra Catz, Tony Hsieh, Bill Gross, Jean Marie Eveillard, Daniel Pink, Don Boudreaux, Ross Douthat, Michael Lewis, and many more. I think it’s very important to read about other people’s experiences, their points of view, and their lessons on life. I gain insights, wisdom, and knowledge, and it’s these things that shape my dreams, focus my ambitions, and give me direction.

Friday, June 19, 2009

Outliers by Malcolm Gladwell

I am currently reading "Outliers" by Malcolm Gladwell. So far it's really captured my interest and stimulated my thoughts. I'll be writing about it in this post, updating at the end as I read.


Gladwell delves into the world of the genius', the prodigies, the experts. How have they gotten to where they are? Is it innate talent, unique opportunity, extreme dedication?


In chapter 1, Gladwell talks about opportunity. he shows how those who were lucky enough to be grouped into the advanced or the elite early on in life, reaped the benefits of better instruction, more instruction, better competition, and better opportunities. Because of age cutoffs, hockey players that are born early in the year are at a physical maturation advantage. As a result, those players born early in the year are accepted onto club and travel teams at an early age, and are more privileged all the way up. They become they best because they were lucky enough to have been born in January, February, or March, not because of innate talent. Bill Gates had unique access to computers and programming opportunities all throughout his childhood. Gladwell doesn't want to underscore innate talent; he wants to illuminate the effect opportunity has.


In chapter 2, we learn about the 10,000 hour rule. Gladwell posits that 10,000 hours are necessary to become an expert in a given field. He points to Bill Gates, Steve Jobs, The Beatles, Mozart, and Bill Joy-the creator of UNIX. While extremely innately talented, all showed a special devotion to their craft. Gladwell finds that rarely does a "special talent" float by on less than 10,000 hours. Also, rarely does a "grinder" put in the 10,000 hours and not become an expert.


In chapter 3, we learn why two people, both with an IQ above 150, will not both succeed at a high level. He give the example of two people, both with fantastic IQ's, who are given the task of listing the uses of a brick and a blanket. The first one:


Brick-To use in smash-and-grab raids. To help hold a house together. To use in a game of Russian roulette if you want to keep fit at the same time (bricks at ten paces, turn and throw, no evasive action allowed). To hold the eiderdown on a bed tie a brick at each corner. As a breaker of empty Coca-Cola bottles.


Blanket-To use on a bed. As a cover for illicit sex in the woods. As a tent. To make smoke signals with. As a sail for a boat, cart or sled. As a substitute for a towel. As a target for shooting practice for short-sighted people. As a thing to catch people jumping out of burning skyscrapers.


The second one:


Brick-Building things, throwing.


Blanket-Keeping warm, smothering fire, tying to trees and sleeping in (as a hammock), improvised stretcher.


"Which of these two students do you think is better suited to do the kind of brilliant, imaginative work that wins Nobel Prizes?"


Gladwell uses this fantastic illustration to show that intelligence (high IQ) alone does not guarantee being an outlier.


In chapter 4, we learn that upbringing matters. Practical intelligence is as important as analytical intelligence. Those born into middle-class and wealthy homes know how to share information and ask for attention. They know what to say to whom, when to say it, and how to say it for maximum effect. They have the knowledge to read situations correctly and get what they want.


In chapter 5, Gladwell says, "Those three things--autonomy, complexity, and a connection between effort and reward--are, most people agree, the three qualities that work has to have if it to be satisfying." 149


Also, "...if you work hard enough and assert yourself, and use your mind and imagination, you can shape the world to your desires." 151