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Month: December 2021

Author: Malcolm Gladwell

Theme: Non-Fiction

Publisher: Little, Brown and Company

Published: 18th November 2008

Pages:  320

Outliers: The Story of Success – Malcolm Gladwell

Outliers, individuals who defy the odds and succeed, are more nurture than nature.

We focus too much on how successful people seem and not enough on where they originate from: their culture, family, generation, and unique childhood experiences.

Malcom Gladwell uncovers the secrets of software billionaires, the qualities of a great soccer player, why Asians excel at math, and why the Beatles are the greatest rock band ever.

The ‘10,000-hour rule’ asserts that no one becomes an expert without putting in the requisite time and effort.

The book shows that innate talent and ability are only part of success; hours and effort are also important.

According to The Story of Success, stories of self-made rugged individualists are not stories of particularly brilliant people who seized an opportunity. Instead, these are stories of talented people seizing life-changing possibilities.

The author defines opportunity by claiming that “rags to riches” stories are rare. An opportunity arises at random. Only a select few get access to them, allowing them to sharpen their skills and distinguish themselves from their peers (one who breaks the norm.)

The book underlines that no one, not even a genius, succeeds on their own.

Gladwell’s assessment of different professions, including art, business, athletics, and music, led him to understand and believe that purposeful effort, not intrinsic aptitude, is the fundamental reason people become so successful at things.

The Outliers stresses the importance of timing; the world’s wealthiest people were born in the 1860s and 1870s, riding the industrial revolution wave. These years produced some of Silicon Valley’s most successful entrepreneurs.

 

Mentions:

When opportunity presents itself, seize it.

There is no shortcut to mastery than ‘putting in the hours.

The author discusses how your upbringing has a more significant impact on your life outcomes than your intelligence alone.

The book illustrates the importance of meaningful labor and how immigrant families raise their children in an environment that values and practices hard work.

The objective of Outliers: The Story of Success is not to debunk success tales. Instead, the goal is to learn from these tales and apply what we’ve learned to make us all more productive and successful.

Quote: “It’s not how much money we make that ultimately makes us happy between nine and five. It’s whether or not our work fulfills us. Being a teacher is meaningful.”

 

Reviews:

New York Times Bestseller

The Globe & Mail Bestseller

David A. Shaywitz, reviewing the book in The Wall Street Journal, praised Gladwell’s writing style as “iconic”

Business Week gave the book four out of five stars and appreciated its “Aha!” moments

Title: The Almanack of Naval Ravikant | A guide to wealth and happiness

 Author: Eric Jorgenson

 Theme: Non-fiction

Publisher: Magrathea Publishing

Published: 15th August 2020

 Pages: 242

Author information: Eric Jorgenson works as a writer and product strategist. Because of the insights he got from Naval, Eric felt inspired to publish The Almanack of Naval Ravikant. He made the decision to compile Naval’s ideas and make them more available to others.

Naval Ravikant is an entrepreneur and a venture capitalist & Founder of Angellist, Epinions, and Vast.com. He is an angel investor in 100+ Companies, including Twitter, Uber, etc.  Naval is well-known for his insights on entrepreneurship, investment, cryptocurrency, money, and happiness.

The desire to become wealthy is similar to all of us—all humans—yet achieving our goals may seem out of reach, but according to the author, money, and happiness are skills that can be learned.

It all started in 2018 with Naval Ravikant’s tweet “How to Be Rich (Without Getting Lucky).”

According to Naval’s observations in the book, wealth is not money. Money is a tool for transferring wealth. Wealth, on the other hand, is defined as objects that can earn money for you and be productive even while you sleep. Inventions, business concepts, and commodities are all examples of wealth. The bottom line is that you must work hard to become wealthy, and you must work in the right way to become wealthy.

The book’s insights discuss constructing mental models, which define and serve as your foundation note. The most effective approach to building mental models is to read, and the book suggests an hour of reading every day.

The book comprises Naval’s mental models and principles.

Mention: The answer is no if you can’t decide! If you can’t determine between two paths, take the one with the least amount of pain and the most long-term gains.

Making money is a skill you develop through time, and becoming wealthy is a matter of knowing what you do, who you do it with, and when you do it. Understanding is more important than simply working hard.

The author discusses iterated games—the gist being that if you have wealth (money, relationships, and knowledge) built on particular foundations, you will earn far more in the long run.

Learn how to market yourself. Learn how to construct. You will be unstoppable if you succeed in this.

To summarize, the book claims that in order to be happy, you must take care of yourself, eat well, and exercise – do all of these things, and the road to wealth will be much more delightful.

While money is crucial, it isn’t the sole factor determining happiness. You must concentrate on improving your skills, habits, and everything else that will benefit you.

Building talents takes time, so think long-term. Find things that are significant and worthwhile to you and keep them. Enjoy the satisfaction that comes from investing in interests, pursuits, and family; the rest will follow of itself!

 

Reviews:

Shane Parrish: “I call Naval the Angel Philosopher, and the Almanack shows why.

Anthony Pompliano: “Highly suggest others grab a copy.”

 

Accidentally retired: Book score: 8/10

HIGHLIGHTS:

Title: Who: The A Method for Hiring
Author: Randy Street and Geoff Smart
Publisher: Random House Publishing Group
Published: September 2008
Pages: 208

It is evident that companies achieving great heights are fueled by a strong workforce accelerating rapid growth, for which they are praised and held up as positive examples. On the other hand, the downfall can be attributed to the exact cause. The workforce is the stumbling block. You’ve probably heard how tough it is to hire individuals, especially when the position is complex and how tedious the interview process can be.

WHO – The A method of hiring; the book instantly became the New York Times Best Seller

In this book, the Authors Geoff Smart and Randy Street convey an effective solution to the evident problem faced by the firm’s all around the world – ‘Unsuccessful Hiring.’

The answer described in the book is based purely on research and data; hiring mishaps cost a company on average $1.5 million or more per year, and statistics show that typical hiring managers have a success record of less than 50%.

It’s all about who, not what; ‘who’ refers to the individuals you engage in making the ‘what’ decision. The book asserts that the ‘who’ issues may be easily avoided – this assertion is based on 1,300 hours of interviews with more than 20 billionaires and 300 CEOs.

The ‘A’ technique cited by the authors focuses on the core principles that everyone can apply and has a 90% success rate.

Mention: It doesn’t matter what systems, processes, brand, intellectual property, technology, or other assets you have if you hire the wrong guy; he’ll destroy them all. It doesn’t matter what you have in place if you recruit the appropriate guy because he’ll figure it out and make it work – acquiring the right individuals will give you a lot better chance of success.

It is how you define your goals, whether you’re looking for someone as a CEO or someone who can get you food cooked. It’s all about ‘who’ and the process will help you discover ‘how’ to avoid common voodoo mistakes, generate a flow of ‘A’ players, ask the right interview questions to separate A players from B, C players, and attract the person you want to hire by emphasizing the points the candidate cares about most.

The steps mentioned in the book aren’t tough to put into practice or rocket science, but they are more challenging than doing nothing. Remember the examples of terrible hires you’ve heard about and the influence they can have on a company’s growth curve. We believe that spending time reading ‘Who’ will assist you in implementing new methods that will help your company thrive.

 

What can we do to improve the success rate of our hiring process?

Why do we make so many costly hiring errors?

How do we put a talent selection and development mechanism in place?

‘Who,’ is the Answer.

Reviews – 

The best sellers list:

  • The New York Times
  • USA Today
  • The Wall Street Journal

Wayne Huizenga: “Geoff Smart and Randy Street have done an amazing job distilling the best advice from some of the world’s most successful leaders.”

John Malone: “It’s a great read – it is all about finding keeping and motivating the team.”

William Johnson: “ghSMART has helped talent a competitive advantage at Heinz.”

William Koch: “Better hiring can win you races and help you win in your career.”

Ken Griffin: “No investment is more important than building our teams, and ghSMART helps us do it right.”

Alec Gores: “CEOs and middle managers can benefit from this book.”

Roger Marino: “This book will save you and your company TIME and MONEY. In business, what else is there?”

HIGHLIGHTS:- 

Title: SHOE DOG – A memoir by the creator of Nike
Author: Phil Knight
Theme: Autobiography
Publisher: Simon & Schuster
Published: 26th April 2016
Pages: 386

Brands are generally thought to be based on brilliant ideas and brainstorming sessions, but what if a company that started with $50 went on to sell more than $50 million with the simple notion of importing high-quality, low-cost running shoes from Japan.

Shoe Dog is a book that chronicles the rise and fall of an intrepid company and its transformation into the largest and most recognized brand.

A fresh business school pass out; Phil Knight borrowed $50 from his father to start his own business instead of working for large organizations. He came up with the idea of importing high-quality shoes from Japan, which he describes as a “crazy idea.” Phil’s idea was on the sheer belief that the way Japanese cameras overtook German ones, the same way Japanese shoes could become more popular than European shoes in America.

Phil began selling the shoes from the trunk of his lime-green Plymouth Valiant, and his first-year sales totaled $8,000. Knight, the guy behind the swoosh-the ne plus ultra, recounts his experience for the first time in the memoir, beginning with his crossroads event. Phil chose the unconventional road of discovering the idea-that dynamic and creating something on his own at the age of 24, bag packing around the world.

It all initiated with a business meeting with Onitsuka’s shoe company because they made shoes he liked under the brand Tiger. When Phil was asked about the company he represents, he realized he didn’t have a name at the moment, and he yelled out the word “Blue Ribbon” since he remembered the blue ribbons from his earlier races hanging in his room at home. Surprisingly, Onitsuka agreed to the proposal.

The book covers the risks he confronted, the setbacks he surmounted, the intense competition he encountered, and many of his remarkable victories. He recalls his former track coach, the irascible and flamboyant Bill Bowerman, and his first workers, a ragged gang of misfits and savants that built the heart and soul of Nike.

With the sublime force of a common aim and a genuine belief in the spirit of sport, they worked together to achieve their goal and built a brand that changed everything.

Reviews:

Bill Gates: “Amazing tale, a refreshingly honest reminder of what the route to company success really looks like,” Phil Knight relates his story as truthfully as he is able to retell it. It’s a fantastic story. It’s true. And you’ll see why, despite all of the difficulties he had along the road, Knight writes, “God, how I wish I could relive the whole thing” in the last pages.

Warren Buffet: “The best book I read last year was ‘Shoe Dog’ by Nike’s Phil Knight,” he writes. “Phil is a very wise, intelligent, and competitive fellow who is also a gifted storyteller.”

Tim Cook: “Best business book of the century.”

Alexis Ohanian: “Shoe Dog by Phil Knight is a great one — had no idea Nike had such a long history.”

Bill Gurley: “I don’t know of any book that captures the entrepreneurial spirit as much as this one does. PK explains exactly why we grind.”

Jason Calacanis: Recommends reading – The shoe Dog.

Summary: To put it simply, Artificial Intelligence is changing the way businesses operate today. To truly profit from artificial intelligence, a company can no longer experiment with it in bits and pieces. Instead, an AI-driven digital strategy is now a “must-have” for companies seeking to develop faster and maintain a competitive edge.

 

Research conducted by Deloitte has found, “AI adopters are investing significantly, with 53% of the respondents spending more than US$20 million over the past year on AI-related technology and talent. At the same time, 71% of adopters expect to increase their investment in the next fiscal year by an average of 26%.” Consequently, to retain a competitive edge, leaders may quickly need to move beyond leveraging AI to optimize and automate processes and start using AI to create new products and operation methods.

In the past, algorithms were used to determine loan amounts, hire new employees, and empower chatbots (with varied results). Now,  The question isn’t whether a corporation should employ AI, but where it can best benefit them.

 

1. Forecasts

From finding correlations in data to predicting existing trends more accurately, AI has evolved into a system that analyses preferences and attitudes in vast quantities of data such as text, speech, photos, digital news feeds, and social media. AI can now identify potential disruptors by connecting embedded features, helping firms to better prepare for unexpected events.

Early AI fraud detection systems can now detect bots, making them vital in the fight against hackers, malware, and ransomware. Global financial institutions deploy market shock-adaptive machine learning algorithms to estimate not just investment returns, but also possible disruptions like Covid-19.

 

2. Increased efficiency

AI enables businesses to grow more quickly by freeing up employees to perform more high-skilled work and, if appropriate, upskilling existing employees. Until recently, AI was thought to be too sensitive to be employed for standard data processing tasks such as cleaning up duplicates in datasets. However now, it is frequently employed for this time-consuming task.

Automation analyses forms and listens to recordings to help reviewers focus their attention, route calls, or simply find missing attachments. By learning which portions of the input are more essential, attention-based techniques have enabled AI to link seemingly unrelated concepts more consistently and work faster.

Over the next few years, thanks to these new technologies, automated processes and filters will become more and more common in areas and processes that haven’t traditionally been thought of as data-driven. This includes everything from a customer’s interaction to the process of processing an order, for example. Even though it can be hard to figure out how fair things are at first, AI-based approaches can be more equitable, transparent, and objective than our previous human efforts, even if it takes a while to figure out how fair things are.

 

3. Data Security

The enterprise threat landscape is massive and continually evolving. To correctly quantify risk, up to several hundred billion time-varying signals must be processed.

So now what?

Analyzing and strengthening cybersecurity posture is no longer a human issue.

In response to this unprecedented challenge, AI-based cybersecurity technologies have evolved to help information security teams decrease breach risk and enhance security posture.

They can swiftly evaluate millions of events and identify many different sorts of risks – from malware exploiting zero-day vulnerabilities to spotting dangerous behavior that might lead to phishing attacks or the download of malicious code. These systems learn from prior attacks to identify future ones now. Behavior histories let AI discover and respond to deviations from established standards.

 

4. High-Efficiency Marketing And Better ROI

Beyond the company’s infrastructure, AI may provide organizations a competitive advantage in marketing. Because AI can learn and train from data, it may provide valuable insights about how, who, when, and where to sell. Numerous AI breakthroughs come from the fundamental assumptions that:

  • Companies already have a lot of customer data.
  • AI provides objective, data-driven conclusions based on existing data.

To clarify, AI can come to know a client on a personal level that we haven’t seen before. How? It relates to the prior discussion of behavioral patterns and AI’s detection.

The Tech Giants have already perfected this approach: The computers rapidly learn to provide suggestions that are specifically matched to each user’s taste and preference, expressed in their activity on the site.

Today’s efficient marketing creates customer-brand connections at the proper time and place. AI can help companies better understand their customers’ requirements and provide superior experiences that transform them into devoted customers and brand champions, resulting in increased revenue.

 

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AI is often referred to as an expense rather than a cost. Increasing AI usage necessitates resources for governance, transparency, upskilling, and often technological debt. But firms can no longer afford to ignore something so pervasive.

Modern customers are hyperconnected. They need quick judgments. AI can learn from numerous channels, like Twitter, WhatsApp, TikTok, or a chatbot, and adapt and code swap to become more appealing.

These increasingly complicated models will become more dependable, their techniques and outcomes more intelligible, and hence their applications more creative and viable as AI model “explainability” increases.