Fortune Cookie of the Day

Chilled

Before turning to the future, remember the immutable laws of finance. Stratospheric growth never lasts. Returns fade. New threats emerge.

words to live by and lose sleep from

Lex in depth: Facebook - FT.com

Economics meets HR meets experience. Moves along thinking thinking for startup hiring.

Good parody of the author I love and love to hate.

Since I was angling to intertwine two seemingly unrelated stories, I took the chance to watch Jennings that day and talk with Frank Appelston, another accomplished melter and Jennings’s closest friend on the NALMM tour. Appelston pointed out what newcomers to the sport don’t easily see, that as Jennings picked a stick from the nearby woods, first a birch twig but then an oak, he did more than find an implement on which to impale the marshmallow. He’d also done what many infants can’t do—he connected means with ends. Then, when Jennings waved for the referee to hand over his first ’mallow, Appelston walked me through the process by which the firm little cylinder of sugar was, to use the technical phrasing in the NALMM rule book, poked with the stick.

Jennings had demonstrated once again that to melt a marshmallow, one has to heat it up. It’s that “heat” problem again. “Bob got into this as part of some innate drive he has to poke things with sticks,” Appelston recalled. “Not all of us are born with that instinct.” Jennings’s concentration was obvious, with an almost golfer-like need for silence amidst the rustling leaves above. And he had on a plaid shirt. I should’ve said that earlier, he’s a real working-class guy, but you got that, right?

Best public bio I’ve read in a long time. Kinda heartless. But funny.

Even further back in time, Dr. Kedrosky was one of the first technology equity analysts at a major brokerage firm. Back before there were such things as credit default swaps, collateralized debt obligations, and subprime mortgages, we vandalism-loving greed-heads on Wall Street were forced to take down capitalism the hard way — by selling over-valued technology companies to an unsuspecting public via initial public offerings. While it eventually worked out (c.f., the tech crash of 2000), the next generation of Wall Street-ers learned from our inefficiency and took down the global money grid in half the time it took us to mess up Nasdaq. Lesson learned.

Rand Fishkin of SEOmoz describes how he almost raised $24mm of venture funding. I found the everyday details he shares as interesting as the actual story - how do startup CEOs communicate with VCs, how do they think about the issues their companies face, etc. These things are hard to imagine for anyone who is not a startup CEO, but they probably come so naturally that few realise they might be interesting to outsiders. I would love to find more blogs of startup CEOs who write about everyday issues from the trenches.

Fortune cookie of the day.

Fortune cookie of the day.

nevver:

Up all night

Turning a lone nut into a leader.