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Get Ready to Defend the Free Market
06.02.97 | Forbes | Rich Karlgaard

LET'S CLONE GEORGE GILDER. One is just not enough. The original I'd keep in his current job as a technology writer and forecaster of the first rank. Nobody rea...
Rich_Karlgaard  free_markets  George_Soros  warp_speed  George_Gilder  income_inequality  tempo  operational_tempo  '90s  capitalism  digital_economy 
august 2017 by jerryking
Rich Karlgaard: Apple's Lawsuit Sent a Message to Google - WSJ.com
August 26, 2012 | WSJ | By RICH KARLGAARD
Rich Karlgaard: Apple's Lawsuit Sent a Message to Google
To Steve Jobs, Android stirred unpleasant memories of Microsoft Windows.
Apple  Samsung  litigation  Rich_Karlgaard  Google 
august 2012 by jerryking
Irrational Act
02.14.05 | Forbes | Rich Karlgaard.

Few can can explain why capitalism works. Economists, trapped in the closed loop of supply and demand, can only make a dismal pseudo-scientific hash of it. Out in the real world people are inspired by ideas. Some are even willing to suffer irrational odds in an effort to turn their ideas into innovations. Most fail, but even the failures add to our knowledge. The pursuit of innovation by entrepreneurs willing to give before they get creates discontinuities that shatter the predictable loop of supply and demand. Entropy and monopoly alike are defeated by innovation. That is how capitalism works. It starts with an irrational act of giving.

Why does tithing work? Nobody knows. Only that it does for many.
in_the_real_world  Rich_Karlgaard  capitalism  tithing  discontinuities  innovation  irrationality  leaps_of_faith  ideas  economic_dynamism  economists  ideaviruses 
august 2012 by jerryking
Real-World Advice for the Young
04.11.05 | Forbes | Rich Karlgaard.

We owe our young people ...a set of "road rules" for the real world.

Purpose. Every young person needs to know that he was created for a purpose. ...I would, however, argue that there is also an economic purpose to our lives. It is to discover our gifts, make them productive and find outlets for their best contribution.

Priorities. The best single piece of advice from Peter Drucker: Stop thinking about what you can achieve; think about what you can contribute (to your company, your customers, your marriage, your community). This is how you will achieve. Enron had an achievement-first culture; it just achieved the wrong things...how many schools teach young people to think in terms of contribution?

Preparation. Lest you think I'm urging young people down a Mother Teresa-like path of self-sacrifice, I'm not. The task is to fit purpose and contribution into a capitalistic world. There is a crying need for prepared young people who can thrive in a realm of free-market capitalism. This great system works magnificently, but it doesn't work anything like the way it's taught in most universities. In the real world, the pie of resources and wealth is not fixed; it is growing all the time. In the real world, the game is not rigged and static; rather, money and talent move at the speed of light in the direction of freedom and opportunity. In the real world, greed is bad (because it takes your eye off customers), but profits are very good. Profits allow you to invest in the future. In the real world, rising living standards do not create pollution. Instead, they create an informed middle class that wants and works to reduce pollution.

Pan-global view. The economy is global.... There is no going back.

Partner. Many of the great startups of the last 30 years began as teams of two...Behind this phenomenon is a principle: Build on your strengths. To mitigate your weaknesses--and we all have them--partner up! Find your complement.
Perseverance. Young people are smarter and more sophisticated today. It's not even close. My own generation's SAT scores look like they came out of baseball's dead-ball era. But apart from the blue-collar kids who are fighting in Iraq, most American kids today are soft. That's a harsh statement, isn't it? But cultural anecdotes back it up. Kids weigh too much. Fitness is dropping. Three American high schoolers ran the mile in under four minutes in the 1960s. It's been done by one person since. Parents sue coaches when Johnny is cut from the team. Students sue for time extensions on tests. New college dorms resemble luxury hotels. College grads, unable to face the world, move back in with their parents and stay for years.

Does this sound like a work force you'd send into combat against the Chinese?
in_the_real_world  Rich_Karlgaard  advice  Peter_Drucker  youth  students  entrepreneurship  partnerships  rules_of_the_game  purpose  globalization  Junior_Achievement  perseverance  millennials  serving_others  priorities  preparation  profits  greed  fitness  talent_flows  capital_flows  static  risk-mitigation  complacency  blue-collar  Chinese  capitalism  self-sacrifice  young_people  anecdotal 
august 2012 by jerryking
ASAP Interview_Don Valentine
Forbes ASAP | by Rich Karlgaard.

The great thing about evaluating markets first is that usually there are very poor data sources. So you have to create these scraps of information and most people don't do that--they prefer to make a judgement on some other basis, whether the product is patentable, whether the technology is differentiated, whether the people are world class. To us, you can scrape and push and dig and find out tidbits of information which when you put them together, you get a conviction about when something will happen. You talk to people in distribution, you talk to all the sources of information that you can, and you make a judgment....Are you solving a problem? Are there great installations of incompatibility that need to be linked? Who cares about this product? and do they care with a time frame that's important to us--eight years, the length of a fund?...To me, the most important person in management beyond the president has always been the sales manager. I want to meet and get comfortable with the guy who is going to create the backlog. This is different that marketing. Marketing runs the company, as it should, but it is the sales department that creates the orders and creates the cash-flow. So the sales manager is always a very important character to me, much more important that a log of other people. They must be relentless, driven and have enormous energy. Winning is terribly important to them, Where we've had great successes with companies, we've had great sales managers. Where we've had mediocre success with companies, we've had mediocre sakes managers. Nothing happens if you don't get a backlog.
Sequoia  Don_Valentine  Rich_Karlgaard  due_diligence  sleuthing  information_sources  sales  tacit_data  scuttlebutt  incompatibilities  primary_field_research 
june 2012 by jerryking
Don Valentine, Venture Capitalist - Forbes
12/09/2005 @ 10:59AM |149 views
Don Valentine, Venture Capitalist
Rich Karlgaard Rich Karlgaard,

Most VCs say they invest, first and foremost, in people. Technology and markets are secondary considerations. The thinking goes: “A” people will know how to find “A” technology and “A” markets.

Valentine rejects that. He bets on markets that are ready to explode. Deep in his salesman’s bones, Valentine knew the market for microcomputers (Apple), databases (Oracle) and routers (Cisco) would go nuclear before other investors did.
Don_Valentine  Rich_Karlgaard  Sequoia  large_markets  teams  high-growth 
june 2012 by jerryking
Ten Laws Of The Modern World
04.19.05 | Forbes | Rich Karlgaard.

• Gilder's Law: Winner's Waste. The futurist George Gilder wrote about this a few years ago in a Forbes publication. The best business models, he said, waste the era's cheapest resources in order to conserve the era's most expensive resources. When steam became cheaper than horses, the smartest businesses used steam and spared horses. Today the cheapest resources are computer power and bandwidth. Both are getting cheaper by the year (at the pace of Moore's Law). Google (nasdaq: GOOG - news - people ) is a successful business because it wastes computer power--it has some 120,000 servers powering its search engine--while it conserves its dearest resource, people. Google has fewer than 3,500 employees, yet it generates $5 billion in (current run rate) sales.

• Ricardo's Law. The more transparent an economy becomes, the more David Ricardo's 19th-century law of comparative advantage rules the day. Then came the commercial Internet, the greatest window into comparative advantage ever invented. Which means if your firm's price-value proposition is lousy, too bad. The world knows.

• Wriston's Law. This is named after the late Walter Wriston, a giant of banking and finance. In his 1992 book, The Twilight of Sovereignty, Wriston predicted the rise of electronic networks and their chief effect. He said capital (meaning both money and ideas), when freed to travel at the speed of light, "will go where it is wanted, stay where it is well-treated...." By applying Wriston's Law of capital and talent flow, you can predict the fortunes of countries and companies.

• The Laffer Curve. In the 1970s the young economist Arthur Laffer proposed a wild idea. Cut taxes at the margin, on income and capital, and you'll get more tax revenue, not less. Laffer reasoned that lower taxes would beckon risk capital out of hiding. Businesses and people would become more productive. The pie would grow. Application of the Laffer Curve is why the United States boomed in the 1980s and 1990s, why India is rocking now and why eastern Europe will outperform western Europe.

• Drucker's Law. Odd as it seems, you will achieve the greatest results in business and career if you drop the word "achievement" from your vocabulary. Replace it with "contribution," says the great management guru Peter Drucker. Contribution puts the focus where it should be--on your customers, employees and shareholders.

• Ogilvy's Law. David Ogilvy gets my vote as the greatest advertising mind of the 20th century. The founder of Ogilvy & Mather--now part of WPP (nasdaq: WPPGY - news - people )--left a rich legacy of ideas in his books, my favorite being Ogilvy on Advertising. Ogilvy wrote that whenever someone was appointed to head an office of O&M, he would give the manager a Russian nesting doll. These dolls open in the middle to reveal a smaller doll, which opens in the middle to reveal a yet smaller doll...and so on. Inside the smallest doll would be a note from Ogilvy. It read: "If each of us hires people who are smaller than we are, we shall become a company of dwarfs. But if each of us hires people who are bigger than we are, we shall become a company of giants." Ogilvy knew in the 1950s that people make or break businesses. It was true then; it's truer today.
Rich_Karlgaard  matryoshka_dolls  Moore's_Law  Metcalfe's_Law  Peter_Drucker  Ogilvy_&_Mather  Gilder's_Law  hiring  talent  advertising_agencies  transparency  value_propositions  capital_flows  talent_flows  David_Ogilvy  inexpensive  waste  abundance  scarcity  constraints  George_Gilder 
june 2012 by jerryking
Wealth and Fitness Secret – Ratios - Rich Karlgaard - Innovation Rules -
Dec. 21 2010 | Forbes | Rich Karlgaard. Success is often a
matter of getting the ratios right. Business and investing success is
hardly possible without understanding ratios. Knowing the numbers is
important. But knowing the numbers in relation to other numbers will
make you a millionaire. You will see anomalies that others miss. I’ll
never forget a comment made by George Soros in July 2008, when oil was
$147.50 a barrel. A Goldman Sachs analyst had predicted oil was headed
to $200, but Soros knew better. Why? Because oil was already too
expensive compared to gold. At $147.50, oil was 1:6 the price of gold.
The normal ratio band is 1:10 to 1:15, said Soros. Either gold had to
rise, or oil had to fall. Because Soros could not see any inflation that
might drive gold higher, oil had to fall.
anomalies  base_rates  contextual_intelligence  fingerspitzengefühl  George_Soros  insights  jck  ksfs  lessons_learned  life_skills  metrics  moguls  pattern_recognition  proportionality  ratios  Rich_Karlgaard 
december 2010 by jerryking
Innovate, Yes--But Where?
03.13.06 | Forbes | by Rich Karlgaard. "Today’s bestseller
list on management bursts with innovation-themed titles. Two I’ve read
and recommend are Geoffrey Moore’s Dealing With Darwin: How Great
Companies Innovate at Every Phase of Their Evolution and Vijay
Govindarajan and Chris Trimble’s 10 Rules for Strategic Innovators: From
Idea to Execution." Startups, I think, hold the best cards when it
comes to two types of innovation: technology and price. But incumbents
also have ample areas in which they can innovate. Consider these
examples: Cost Innovation, Logistics Innovation, Design Innovation,
Line-Extension Innovation, Data-Analysis Innovation,
innovation  howto  Rich_Karlgaard  Geoffrey_Moore  data_mining  design  branding  logistics  Vijay_Govindarajan  books  start_ups  costs  taxonomy 
october 2009 by jerryking

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