Do you want to spend less money than you earn, so you can save more, invest more, and ultimately achieve financial freedom? Then I suggest you pay attention to the Cost per Use Principle: For each material possession (especially the most expensive ones), calculate and minimize your cost per use. Crave a swimming pool? Then…
Category: Wealth
31 Takeaways from START Summit 2019
My main motivation for going to START Summit 2019 was to meet old friends and acquaintances from the St. Gallen area, but also to learn from the talks. I was positively surprised. It ended up to be one of the best and most innovative tech/startup conferences I have ever attended. Check out the opening video…
Charlie Munger’s Three Basic Rules for Business
Don‘t sell anything you wouldn‘t buy yourself. Don‘t work for anyone you don‘t respect and admire. Work only with people you enjoy. If we could all apply these a little more often, the world would be a better place. (Learned from Poor Charlie’s Almanack.)
Twitter is a public utility
I have been using Twitter for 12 years and I love it more than ever. For me, Twitter is not a social network. It’s an interest community. An idea network. More like a protocol. A global conversation protocol. Twitter the business I have trouble viewing Twitter as a regular tech company. Of course, I want…
Podcast Ads 101: How to Succeed with Podcast Sponsorship
My own experience shows that sponsoring podcasts can be very effective in driving awareness and sales. I have bought many things triggered by podcast ads, including supplements, clothing and even a new mattress. Here are the success factors that made those sales happen: A trusted hostPodcasts are very personal, and loyal listeners spend countless hours…
6 Key Takeaways from Charlie Munger’s 2019 Daily Journal Annual Meeting
Charlie Munger, business partner of Warren Buffett, recently spoke at the 2019 Daily Journal Annual Meeting. You can watch the full recording here. Here are my key takeaways: #1: Fish where the fish areFor Charlie, that means China. High-quality companies in China are currently available for cheaper prices than similar companies in the USA. #2:…
What I learned from Sam Zemurray, America’s Banana King
My learnings from The Fish That Ate The Whale about Sam Zemurray: Fire people who can’t get the job done, and replace them by people who can. Fast decisions. Don’t nibble. Get things done. Get your hands dirty. Work hard. Go out to the fields with the machete. “We are here, they are there.” Make…
The efficiency trap
Efficiency is often confused with effectiveness. It can be a trap. “Efficiency is doing things right; effectiveness is doing the right things.” Peter Drucker You can be efficient in doing the wrong things. You can be efficient in doing things you shouldn’t even do. You can efficiently waste your time. Too often, I make the…
How to solve the email problem
Recently, a friend asked: “How do you deal with email? I get more than I can handle. Maybe I don’t invest enough time, focus or attention?” First of all, I don’t have a final solution. It’s a work in progress, as for most of you. Let’s use the principle of Inversion. How can we make…
AI in China
Here are some examples of how Chinese companies are applying machine learning: Chinese company Yongqianbao is using artificial intelligence to screen data to determine creditworthiness when issuing loans. No credit agents necessary! Watch this CNBC clip about them ByteDance (a private company, last valued at $78B) uses machine learning to source and push content to users. Their main…