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jerryking : anecdotal   18

Globalised business is a US security issue | Financial Times
Rana Foroohar YESTERDAY

there is a much broader group of people in both the public and the private sector who would like to reverse the economic integration of China and the US for strategic reasons..... a two-day event sponsored late last month by the National Defense University, which brings together military and civilian leaders to discuss the big challenges of the day. Dozens of experts, government officials, and business leaders gathered to talk about the decline in the post-second world war order, the rise of China, and how the US could strengthen its manufacturing and defence industries. The goal would be to create resilient supply chains that could withstand not just a trade war, but an actual war......“If you accept as your starting point that we are in a great power struggle [with China and Russia], then you have to think about securing the innovation base, making viable the industrial base, and scaling it all,”....Included on the event’s reading list was Freedom’s Forge, which outlines the role that US business — notably carmakers — played in gearing up the US for war in the early 1940s. At that time, because of the depth and breadth of the auto industry’s manufacturing and logistical might, the sector was viewed as being just as important to national security as steel and aluminium.

That is not to say the US security community is pro-tariffs or trade war .... But there is a growing group of thoughtful people who believe that American national security interests will require a forcible untangling of the investment and supply chain links between the US and China. They point to high-tech areas like artificial intelligence, robotics, autonomous vehicles, virtual reality, financial technology and biotech as important not only to the military but also for private sector growth.....While America’s military is still figuring out how make sure its supply chains are not controlled by strategic adversaries, the Chinese have played a much more sophisticated long game. The difference can be summed up in two words: industrial policy. China has one. The US doesn’t. The US has always steered away from a formal policy because critics see it as the government “picking winners”. But the Chinese don’t so much pick winners as use a co-ordinated approach to harnessing the technologies they need. They do it not only through investments and acquisitions but also through forced joint ventures, industrial espionage, and cybertheft [jk: predatory practices].....many multinationals were shortening their supply chains even before the current trade conflicts.

It is a trend that will probably speed up. Multinational companies, much more than domestically focused ones, will suffer collateral damage from tariffs. They will also be a major target of Chinese backlash. Anecdotally, this is already leading some groups to shift production from China to other countries, like Vietnam. If the military-industrial complex in the US has its way, those supply chains might move even closer to home.
adversaries  anecdotal  automotive_industry  books  China  China_rising  collateral_damage  co-ordinated_approaches  cybertheft  economic_integration  industrial_espionage  industrial_policies  military-industrial_complex  multinationals  predatory_practices  Rana_Foroohar  WWII  security_&_intelligence  supply_chains  trade_wars  U.S.  U.S.-China_relations 
july 2018 by jerryking
Retail sales per square foot in decline | Retail Dive
Daphne Howland
@daphnehowland
PUBLISHED

Aug. 1, 2017

Which stores to close can be a tricky decision, though, because of how offline stores add to online sales. Moody's Investors Service last year warned that closing a physical location reduces a retailer’s presence in the market area and noted that online sales often decrease in zip codes surrounding a shuttered store. It behooves mall landlords and retailers to leverage new technologies and new math to account for that, in order to make educated decisions, according to Hongwei Liu, CEO and co-founder of Mappedin, an indoor wayfinding platform for premium North American malls.

"Fortress mall operators are under heavy scrutiny, along with the rest of their industry," he told Retail Dive in an email. "Everyone knows retail space is overbuilt in the U.S., shares are down 35% from a year ago. Our mall customers, who are almost exclusively premium operators, say that 'rents are up, sales are up, occupancy is up' in 2017. Flush with cash but seeing depressed market valuations, hostile takeover bids are increasing. Anecdotally, more is being invested in technology and consumer experiences to 'recapture' (or re-demonstrate) the value that premium malls and retailers are creating."
MappedIn  shopping_malls  retailers  Apple  Tiffany  LBMA  anecdotal  sales_per_square_foot 
august 2017 by jerryking
Little metrics can make a big difference (and here’s how to use them) - The Globe and Mail
BRIAN SCUDAMORE
Special to The Globe and Mail
Published Thursday, Jun. 09, 2016

small businesses can concentrate on collecting different metrics that have an impressive impact on the bottom line. I call it little data. It’s easier to collect and it’s a great way to take the pulse of your company on a day-to-day basis.

Here’s how to find the little data that matters, so you can make impactful changes to your business without spending a fortune.

Sweat the small stuff

Looking at traditional metrics – sales revenue, cost of customer acquisition and overhead – is important, but it’s also worth tracking intangible elements that don’t make it onto a spreadsheet.

I like to look around the office and focus on the energy – is there a buzz or are people bored? – or I’ll look at notes from exit interviews to see who is leaving the company and why. Keeping this little data in mind has enabled us to make important changes to our culture when we need to.

External feedback is powerful, too. Whenever I’m in a new city, the first thing I ask my taxi driver is, “Who would you call if you needed your junk removed?” I’m not just making conversation or trying to name-drop one of our brands – I’m doing my own survey to see if our marketing efforts are sticking....you can’t run your business on anecdotes, focus on key numbers that provide meaningful insight and measure them consistently.... communicating these benchmarks, everyone in the company can understand and can react quickly to fluctuations.

Our key metrics are call volume, website traffic, and jobs completed. We also work on our “customer wow factor” by looking at our Net Promoter Score (NPS), asking every customer how likely they are to recommend our services to a friend.[aka delighting customers]
anecdotal  Brian_Scudamore  consistency  delighting_customers  feedback  Got_Junk?  Haier  insights  massive_data_sets  measurements  metrics  NPS  small_business  small_data  Wal-Mart  UPS 
june 2016 by jerryking
David Carr, a Journalist at the Center of the Sweet Spot - NYTimes.com
By A. O. SCOTTFEB. 13, 2015

David’s public contribution to the profession — his columns and feature stories, his interviews and investigations — is part of the record, and part of the glory of this newspaper. He covered every corner of the media business (including, sometimes, his own employer) with analytical acumen, ethical rigor and gumshoe tenacity.

He managed to see the complexities of digital-age journalism from every angle, and to write about it with unparalleled clarity and wit.

....“What else?” was the question that would punctuate every conversation with him. What were you working on? What did you think of this or that political event, show-business caper or piece of office gossip? How was your family? What were you thinking? This was sincere, friendly curiosity, the expression of a naturally gregarious temperament. But it was also the operation of a tireless journalistic instinct. David was always hungry for stories. He was a collector of personalities and anecdotes, a shrewd and compassionate judge of character. A warrior for the truth.
David_Carr  journalists  journalism  tributes  business_acumen  obituaries  digital_media  NYT  newspapers  curiosity  questions  memoirists  anecdotal 
february 2015 by jerryking
Re: Early morning epiphanies
Owen Gordon Today at 8:30 AM
To:Jerry King
First of all, thanks for the pick-me-upper by sharing that particular vocational anecdote from the Agenda first thing in the a.m.:-)

I know that you'r...
Owen_Gordon  JCK  advice  career  Managing_Your_Career  Communicating_&_Connecting  anecdotal 
september 2014 by jerryking
China will keep spying. Canada must respond with skill, not rhetoric - The Globe and Mail
DAVID MULRONEY
Contributed to The Globe and Mail
Published Thursday, Jul. 31 2014

China uses its long reach for objectives other than espionage. It feels free to confront any Canadian who shows undue interest in “sensitive” topics. Members of Parliaments, mayors, academics and community leaders have been bullied for displaying interest in the Dalai Lama, conditions in China’s restive Xinjiang region, or the plight of Falun Gong practitioners.

This is unacceptable, but here’s the hard part: we can expect more of the same. A rising but insecure China will not shrink from clandestine and downright unfriendly tactics to advance its interests.

We need to be clear-eyed in facing up to this. But we also need to recognize that our future prosperity, security and well-being depend on maintaining our own intelligently self-interested relationship with China.

So let’s start by banishing the rhetoric. China is not our best friend, any more than it is the sum of all fears. We do need to acknowledge and address the real threat China poses to our security.

Government needs to lead the way, but Canadian companies also need to step up their game. Enhanced security consciousness starts at the top. There are all too many anecdotes about security minded employees being over-ruled by senior executives who are worried about offending inquisitive Chinese visitors. That exquisite sensitivity is never reciprocated when it is the turn of the Chinese to host foreign guests....The one thing that we should avoid doing is closing doors to co-operation. Unfortunately, that’s already happening, and companies on both sides of the Pacific are paying a price. The Chinese media are portraying the U.S. technology sector as a major security threat. This makes it fair game for overly zealous regulators, and plays into the longstanding Chinese inclination to make life tougher for foreign firms. This week, investigators descended on Microsoft offices in China. Meanwhile the China operations of U.S.-based chip maker Qualcomm are also under review. Firms like Apple and Google have felt a similar chill.

Here in North America, China’s telecom giant Huawei is our bête noir, accused of being a proxy for the Chinese security apparatus. These allegations find a ready audience among a Canadian public that, as recent polling has shown, is increasingly wary of China.

It’s hard to argue against caution when it comes to China. But we’re jumping from naive acceptance to complete risk avoidance. There is an intermediate step – risk mitigation. Although its approach is not without controversy, the U.K. has opted for a partnership with Huawei that sees the Chinese company funding an inspection process in Britain designed to reduce security risks.

Complete risk avoidance, or shutting our door to China, comes at a cost that falls on consumers, on smaller companies seeking access to global markets, and on communities seeking investment....China is at the heart of changes that expose us to new levels of threat and uncertainty. We need to respond with skill, purpose and confidence. The only thing more dangerous than engaging China is not engaging it.
anecdotal  Canada  Canada-China_relations  cyberespionage  China  David_Mulroney  espionage  frenemies  Huawei  influence  influence_peddling  intimidation  inquisitiveness  purpose  risk-aversion  risk-avoidance  risk-management  risk-mitigation  security_consciousness  security_&_intelligence  self-confidence  threats  uncertainty 
july 2014 by jerryking
To Persuade People, Tell Them a Story - WSJ.com
Nov. 9, 2013 | WSJ | By Dennis Nishi.

"Lead With a Story: A Guide to Crafting Business Narratives That Captivate, Convince, and Inspire.

* Use far fewer slides. Use a lot more anecdotes
* Turn presentations into stories that your audience can relate to, instead of lecturing them on what needs changing.
* Judge performance on the quality of questions being asked and the quality of feedback received.
* Being an effective storyteller requires preparation.
* Move beyond facts and figures, which aren't as memorable as narratives, says Cliff Atkinson, author of "Beyond Bullet Points."
* Many people in business think raw data is persuasive. But when you're dealing with people from other departments and in different fields who don't understand how you got that data, you can lose them pretty quickly. * Step back and put yourself into their shoes and take them through the process of understanding," "Distill the most important facts and wrap them in an engaging story."
* Find ways to connect with your audience on an emotional level, Neuroscientists have discovered that most decisions—whether people realize it or not—are informed by emotional responses. Do legwork to find significant events in your audience's lives or your own that you can base your story on or use to reinforce your points.
* Insert anecdotes about taking care of a sick family member or a memorable customer story, says Mr. Smith, author of "Lead With a Story: A Guide to Crafting Business Narratives That Captivate, Convince, and Inspire."
* Organize your story into three acts and starting by establishing context. You want to let your audience know who the main characters are, what the background of the story is, and what you'd like to accomplish by telling it, he says. Open, for example, by describing a department that's consistently failed to meet sales goals.
* Move on to how your main character—you or the company—fights to resolve the conflicts that create tension in the story. Success may require the main character to make additional capital investments or take on new training. Provide real-world examples and detail that can anchor the narrative, he advises.
* The ending should inspire a call to action, since you are allowing the audience to draw their own conclusions about your story versus just telling them what to do. Don't be afraid to use your own failures in support of your main points.
* Whatever you do, don't preface your story with an apology or ask permission to tell it. Be confident that your story has enough relevance to be told and just launch into it. Confidence and authority, he says, help to sell the idea to your audience.
storytelling  presentations  Communicating_&_Connecting  persuasion  books  P&G  howto  pitches  buy-in  large_companies  emotional_commitment  narratives  self-confidence  preparation  empathy  seminal_moments  contextual  think_threes  anecdotal 
november 2013 by jerryking
Lucy Kellaway on ‘David and Goliath’ by Malcolm Gladwell - FT.com
October 4, 2013 | Financial Times | by Lucy Kellaway.

David and Goliath is an ill-assorted collection of anecdotes that demonstrates various things we already know. It tells us that having nothing to lose can make you bolder. That if you deploy power indiscriminately, it may backfire. And that losing a parent early on can give you a leg up if you plan on becoming a genius....What ostensibly unites the stories are the twin ideas that an advantage can sometimes be a disadvantage and that a disadvantage can sometimes be an advantage. Yet there is something more powerful and more uplifting that also links them. The man with the poverty-stricken, loveless childhood who helped find a cure for children with leukaemia; the couple who forgave the murderer of their daughter and thus saved their sanity and their marriage; the pastor who sheltered Jews in occupied France – all these stories tell you something that is trite and profound and deeply cheering. It is that good beats bad – just when you least expected it.
books  underdogs  Malcolm_Gladwell  Lucy_Kellaway  book_reviews  anecdotal 
october 2013 by jerryking
Making Sense of Ambiguous Evidence
September 2008 | HBR | A Conversation with Documentary Filmmaker Errol Morris.

The information that top managers receive is rarely unfiltered. Unpopular opinions are censored. Partisan views are veiled as objective arguments. Honest mistakes are made. The manager is then left to sort it all out and come to a wise conclusion.

Few people know how to get an accurate read on a situation like documentarian Errol Morris. He is the award-winning director of such films as The Thin Blue Line and this year’s Standard Operating Procedure, an exploration of the elusive truth behind the infamous photographs taken at Abu Ghraib prison. The Guardian has ranked him among the world’s top 10 directors, crediting him with “a forensic mind” and “a painter’s eye.”

In this article, Morris talks with HBR’s Lisa Burrell about how he sorts through ambiguous evidence and contradictory views to arrive at the real story. “I don’t believe in the postmodern notion that there are different kinds of truth,” he says. “There is one objective reality, period.” Getting to it requires keeping your mind open to all kinds of evidence—not just the parts that fit with your first impressions or developing opinions—and, often, far more investigation than one would think.

If finding the truth is a matter of perseverance, convincing people of it is something of an art, one with which Morris has had much experience not only as a documentarian but also as a highly sought-after director of TV ads for companies like Apple, Citibank, Adidas, and Toyota. He holds up John Kerry’s 2004 bid for the U.S. presidency as a cautionary tale: Kerry struck voters as inauthentic when he emphasized only his military service and failed to account for his subsequent war protest. Morris would have liked to interview him speaking in his own words—natural, unscripted material—so that his humanity, which seemed to get lost in the campaign, could emerge.
anecdotal  HBR  executive_management  CEOs  contradictions  information  information_flows  evidence_based  objective_reality  information_gaps  authenticity  sense-making  ambiguities  uncertainty  persuasion  forensics  postmodern  filmmakers  documentaries  judgment  cautionary_tales 
august 2012 by jerryking
Black entrepreneurs, please
April 7, 1990 | The Economist | Anonymous.

Politics was vital for black advancement in the 1960s and 1970s, but is less so nowadays. Mr. Jackson’s presidential campaigns fed black self-esteem—but also stoked up the myth that black America remains in need of political, as opposed to economic, leadership. The true black “leadership” is not coterminous with black politicians who manage to stay in the spotlight. In every city there are lawyers, businessmen, ministers, public-housing organizers, doctors and teachers whose cadences are less emotive than the politicians’ but whose contribution to black prosperity is more real.

The battle for civil rights has given way, as most of the old civil rights organizations themselves acknowledge, to the battle for “economic empowerment”. After a legal foundation has been laid, a minority’s prosperity will depend less on political largesse and more on economic dynamism. Reasonable men may differ on the adequacy of the foundation of America's laws against discrimination But none can doubt that the time has come to build black prosperity on it. The median income of America’s black families has barely budged over the past decade.

This is why one of the vital findings of America’s 1990 census will be the level of black entrepreneurship In 1980, 1.37% of blacks were self-employed, compared with 1.92% of Hispanics (and 5.8% of whites). Recent, largely anecdotal, evidence suggests that the level of Mexican-American business formation continues to grow faster than that of blacks. True, some Mexican entrepreneurs are immigrants and therefore, almost by definition, more willing to take risks than native’ born Americans. But black, homegrown economic dynamism is urgently needed.
entrepreneurship  African-Americans  leadership  civil_rights  economic_dynamism  Jesse_Jackson  leaders  Louis_Farrakhan  politicians  economic_empowerment  anecdotal 
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
Money Advice for Boomer Women: Get an Adviser - WSJ.com
SEPTEMBER 7, 2006 | WSJ | By VICTORIA KNIGHT. Many Could Reap Benefits From Professional Help With Financial Issues.

In addition to holding a growing slice of the U.S.'s wealth, women are generous with referrals and, though they are less willing to take risks than men when it comes to investing, women are more likely to stick to their decisions, advisers say. Studies by OppenheimerFunds, Prudential Life and Allianz Life, among others, back up the anecdotal evidence.
women  financial_advisors  baby_boomers  investment_advice  anecdotal 
october 2011 by jerryking
An emerging market for market data -
June 29, 2008 | The New York Times | By Tim Arango.

the company has been testing a program called Reuters Market Light for several months in Maharashtra, an Indian state about the size of Italy. The state is one of India's prominent agricultural centers, with farmers growing onions, oranges, corn, soybeans, wheat and bananas. But the farmers' business suffers from the difficulty of comparing prices from one market to another.

"We kind of saw that there was a clear market inefficiency," said Mans Olof-Ors, a Reuters employee who had the idea for Market Light three years ago. "The farmer would decide which market to travel to, then would just sell to that market. So there was no competition between markets."

Reuters has dispatched about 60 market reporters to the region to report on the going price for, say, oranges or onions, and to package the data into a text message that is sent to subscribers.

The service is signing up about 220 subscribers a day at a price of 175 rupees, or about $4.10, for three months at post offices throughout Maharashtra. The average monthly income of a farm household is about $50, according to the Indian government. The service has about 40,000 customers so far - a tiny portion of India's farm population, which is in the hundreds of millions, but it proves that many farmers are hungry for more information.

Reuters has collected anecdotal evidence from farmers about how the service has influenced their decisions about crop sales. One farmer, according to Reuters, held back the sale of 30 quintals of soybeans - one quintal equals 100 kilograms, or 220 pounds - for 15 days after noticing that prices had been rising for several days. He was able to get 400 extra rupees a quintal.

Amit Mehra, managing director of Market Light, said early data showed that most subscribers were making more money from their crops.
food_crops  Thomson_Reuters  India  farmers'_markets  pricing  data  market_inefficiencies  inefficiencies  mobile_phones  text_messages  data_marketplaces  anecdotal 
october 2011 by jerryking
In a Data-Heavy Society, Being Defined by the Numbers - NYTimes.com
By ALINA TUGEND
Published: April 22, 2011
“Numbers make intangibles tangible,” said Jonah Lehrer, a journalist and
author of “How We Decide,” (Houghton Mifflin Harcourt, 2009). “They
give the illusion of control.”[stories, anecdotes, and ratios make numbers memorable. See also Pinboard article, "To Persuade People, Tell Them a Story"]

Too many people shopping for cars, for example, get fixated on how much
horsepower the engine has, even though in most cases it really doesn’t
matter, Mr. Lehrer said.

“We want to quantify everything,” he went on, “to ground a decision in
fact, instead of asking whether that variable matters.” [jck: that is, which variables are incisive, worth paying attention to, act as signal in a sea of noise?]
obsessions  rankings  data_driven  metrics  statistics  analysis  incisiveness  quantitative  Jonah_Lehrer  dangers  intangibles  meaning  sense-making  data  illusions  false_confidence  anecdotal  books  sense_of_control  storytelling  decision_making  overquantification 
april 2011 by jerryking
More Evidence for Store Brands - NYTimes.com
September 7, 2010 | New York Times | By JENNIFER SARANOW
SCHULTZ. ` Earlier this year, I wrote a Bucks post about how consumers
are increasingly opting for cheaper store-brand groceries and I shared
my own anecdotal evidence that some store-brand products are just as
good as their name-brand counterparts.

Now, Consumer Reports has confirmed my hunch. In a study released on
Tuesday, Consumer Reports concludes that some store brands are as good
as or better than some name-brand grocery items. ``
private_labels  grocery  anecdotal 
september 2010 by jerryking
Chances Are - Opinionator Blog - NYTimes.com
April 25, 2010 | New York Times | By STEVEN STROGATZ. NOTES:

1. For a good textbook treatment of conditional probability and
Bayes’s theorem, see:
S.M. Ross, “Introduction to Probability and Statistics for
Engineers and Scientists,” 4th edition (Academic Press, 2009).
4. For many entertaining anecdotes and insights about conditional
probability and its real-world applications, as well as how it’s
misperceived, see:
J.A. Paulos, “Innumeracy” (Vintage, 1990);
L. Mlodinow, “The Drunkard’s Walk” (Vintage, 2009).
statistics  mathematics  books  probabilities  risks  luck  chance  contingency  innumeracy  anecdotal 
may 2010 by jerryking
The Latest Entrepreneurial Fantasy Is Selling Cupcakes
November 25, 2009 | - NYTimes.com| by ELIZABETH OLSON.
Anecdotal evidence indicates that stand-alone cupcake shops have been
spreading not just in the acknowledged cupcake meccas of New York and
Los Angeles but also in Boston, Denver, Austin, Tex., and lots of
smaller places. Nationwide, cupcake sales, are projected to rise another
20% over the next five yrs. at a time when other baked goods are
expected to grow in the single digits. “Cupcake stores are taking the
place of ice cream stores,” said Adam Borden, whose Baltimore-based
venture capital firm, Bradmer Foods, specializes in food-focused
enterprises. Thus far, there seem to be four basic cupcake business
models: (1)The Chain; (2) The Web-Only Store ; (3) The Cupcakes and More
Store ; (4) The Sole Bakery .
food  venture_capital  start_ups  baked_goods  business_models  anecdotal 
november 2009 by jerryking
Annals of Innovation: How David Beats Goliath: Reporting & Essays: The New Yorker
May 11, 2009 |The New Yorker | by Malcolm Gladwell. How
underdogs create opportunities by first understanding their strengths,
weaknesses, and the rules of the game, and then changing the rules....To Gladwell, the story illustrated how traditions become blind spots. “Playing insurgent basketball did not guarantee victory. It was simply the best chance an underdog had of beating Goliath,” he wrote. “And yet somehow that lesson has escaped the basketball establishment.” The anecdote became the opening passage of the book David and Goliath, another fixture on bestseller lists....A few years ago, Ranadivé wrote a paper arguing that even the Federal Reserve ought to make its decisions in real time—not once every month or two. “Everything in the world is now real time,” he said. “So when a certain type of shoe isn’t selling at your corner shop, it’s not six months before the guy in China finds out. It’s almost instantaneous, thanks to my software. The world runs in real time, but government runs in batch. Every few months, it adjusts. Its mission is to keep the temperature comfortable in the economy, and, if you were to do things the government’s way in your house, then every few months you’d turn the heater either on or off, overheating or underheating your house.” Ranadivé argued that we ought to put the economic data that the Fed uses into a big stream, and write a computer program that sifts through those data, the moment they are collected, and make immediate, incremental adjustments to interest rates and the money supply. “It can all be automated,” he said. “Look, we’ve had only one soft landing since the Second World War. Basically, we’ve got it wrong every single time.”
anecdotal  basketball  batch_processing  blind_spots  books  coaching  decision_making  economic_data  innovation  interest_rates  Malcolm_Gladwell  massive_data_sets  money_supply  overlooked_opportunities  rainmaking  real-time  rules_of_the_game  strategy  strengths  Tibco  underdogs  U.S._Federal_Reserve  Vivek_Ranadivé  weaknesses 
may 2009 by jerryking

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