Key Points of “What to Do About Mediocrity on Your Team”

Individual performance problems are far easier to address if you’ve established a norm of excellence by:

  • Connecting your team with the impact of what they are creating and why it matters
    • Eat your own dog food, too
  • Specifying measurable goal and performance indicators (numbers) instead of vague concepts
  • Building a culture of peer accountability — hold them accountable for not holding others accountable
  • Reminding your team again and again of your commitment to high performance
    • Lead by example and master crucial situations

The original article by Joseph Grenny.

Key Points of “Opinion: Quitting Your Job & Living on Passive Income ISN’T Necessary for Financial Success”

Reasons not to quit and create a startup:

  1. You earn enough money
  2. You have specialized skills and want to use them
  3. You love your job
  4. You don’t have the resources/skill to create a startup that provides 1-3

Finance principles:

  • Take charge
  • Buy assets that tend to appreciate in value
  • Decouple time and income (work now and benefit later + for a long time)
  • Have multiple income stream (less risky than having only one as an employee)

What to do instead of quitting:

  • Value yourself
  • Reduce your spending (and risk)
  • Invest 10-15% of your income in stocks / real estate / your own business
  • Start your own business as a side project, if you like
  • Keep learning

The original article by Brad Lohnes.

Key Points of “Is It Time to Break Up Google?”

Today:

  • Google: 88% market share in search advertising
  • Facebook (+ Instagram, WhatsApp, Messenger): 77% of mobile social traffic
  • Amazon: 74% e-book market
  • Revenues of other media businesses (newspapers, music) are down by 70% since 2001
  • it has become increasingly advantageous to be an incumbent, and less advantageous to be a new entrant

History:

  • AT&T (= Bell System) had its rates regulated, and was required to spend a fixed percentage of its profits on research and development
  • AT&T set up Bell Labs which developed all the basics of the digital age: transistor, microchip, solar cell, microwave, laser, cellular telephony (+ along with eight Nobel Prizes)

Possible next steps:

  • Monopolies should not be allowed to acquire other major firms
  • Regulate monopolies as public utility = requiring it to license out patents for its key innovations
  • Remove the “safe harbor” clause in the 1998 Digital Millennium Copyright Act = have them pay for content and hold them accountable for it

The original article by Jonathan Taplin.

Key Points of “Want to Raise Successful Kids? Send Them to School a Year Later, According to Science”

  • Studies of academic performance yield frustrating, inconsistent results.
  • Stanford University studied how did being among the oldest kids or the youngest kids in the class affect things like mental health, discipline, and self-control in Denmark — for some reason.
  • Dramatically higher levels of self-control:  “We found that delaying kindergarten for one year reduced inattention and hyperactivity by 73 percent for an average child at age 11,” Thomas Dee, one of the co-authors, said. “And it virtually eliminated the probability that an average child at that age would have an ‘abnormal,’ or higher-than-normal rating for the inattentive-hyperactive behavioral measure.”
  • Similar to the findings in Malcolm Gladwell’s Outliers.
  • Send your kid to a decent pre-kindergarten instead.

The original article by Bill Murphy Jr.

Key Points of “10 Habits That Will Dramatically Improve Your Life”

  1. Happiness: Stay away from people who erode your quality of life.
  2. Productivity: No more phone, tablet, or computer in bed.
  3. Gratitude: Appreciate the here and now.
  4. Optimism: Realize that things aren’t always as you perceive them to be.(Nobody is perfect, others included!)
  5. Improve: Get started, even though you might fail. (Get into the habit of doing.)
  6. Time: Get organized.
  7. Motivation: Start a collection of the things that truly resonate with you.
  8. Purpose: Do something that reminds you who you are.
  9. Choice: Say no.
  10. Gratification: Stick to realistic goals.

The original article by Travis Bradberry.