How to make money a'la Andy Kessler / Why so old Pope? / Battle of trees / Uncivilized…

How to make money a'la Andy Kessler

Yesterday, Andy Kessler told us how we could make money, or at least have success in our life. The talk was part of the "entrepreneurship in innovation"-course in Sloan. Andy did have some good advice. First, he said that everyone is better off doing what one is interested in, and what one is not that much an expert of. He himself has moved from one career to another, and done well. Second, he said that one is better off when working for high-margin companies. Third, he said that all one has is one's reputation, and that to build a reputation one should think long-term, and stick to one's convictions. Fourth, he had some principles into which industries to invest in: those having price elasticity (i.e. when prices go down, new applications emerge, and the industry gets bigger as a whole), more in horizontal than in vertical ones, and keeping in mind that intelligence is moving to the edge of all networks (which is, in my opinion, the same principle as everything getting virtual). Rather interesting talk, but, as I wrote yesterday, making me anxious.

Why so old Pope?

I was wondering, why the cardinals selected such an old man to head the mighty Catholic church. My friend Marat, from Ukraine, had an explanation ready. He thinks that the selection obeys the same weird logic as the selections of leaders of Soviet Union after Leonid Brezhnev: when the battle of power is still going on and there are both conservative and progressive fractions, is it safe to select a leader, who is certain to pass away soon enough. It is interesting, that none of the analysts I have been reading so far has offered this explanation.

Battle of trees

The desperate forest owners of Northern Finland are again about to cut down some old-growth forests, up in Inari, which far north of the Polar Circle, like 400 km or so. I just do not understand why one should do that up there: it is just desperate. Greenpeace has been opposing the action for a long time, and still is. Check this web site. They even have some videos, which may not be suitable for minors. Parental advice required, the bad guys make faces, and give the finger. Thanks to my friend Matti Ikonen for the link and information.

Uncivilized houses

I just learned, during one of the better PDD-lectures, that there are some persons in USA, who are willing to invest up to 15 million in a house. They are building houses, which they call "French mansions" and "Tuscan villas", and buying expensive replicas of locks etc. A lock may cost $1800. I just do not get this. If someone has $15 million to spend on a house, what is the point of building a replica of something European? Why not hire a great local architect, who would design something novel, and which would, in the best case, earn some international acclaim for the house and its owners? If one wants to learn about Tuscan villas, or their history, one could save $0.5 million, and hire a full-time historian to teach or preach about history for 2 years. Even though it is flattering for Europeans to get our house copied in the plains of Texas, I still wonder this lack of respect and pride of local architecture, which, in many case, is one of the best in the world.

Good things in USA, part 8

I may be about to run out of good things to write, and thus may repeat something. 69. USA gave Joseph Brodsky a place to live (see a picture of him on the right). 70. The practice of skunk-yards in the industry. 71. NASA's mandate to give out all information, which creates a treasure box for engineers. 72. Library of Congress. 73. Invention of rock music, and later hardcore, grunge, etc. 74. The invention of jazz-music. 75. The Residents in their uncompromising secrecy. 76. The national atomic clock signal. 77. Astronauts.

Daily crono

Feeling a bit unstable after playing Socrates all night. Then, lunch at the local Chinese, where the cook speaks only Chinese, working on air traffic policy without any progress, great lecture on disruptive technologies, and one on PDD (see above). Dinner in some Irish-bar/restaurant (fish and chips, no beer) with Matt, Robbie, Spiros, Dave, Christian, and Kumar, chatting over hot chocolate with Robbie and Kumar, and writing blog. Enjoy. And send you comments by email. See the link at the top of the page.

Alun perin julkaistu kuukausikoosteessa "Blogs April 2005".