Quotation of the Day

He disdained anyone who dismissed an issue as trivial. “Life is made up of a whole concentration of trivial matters,” he once said. “Certainly a computer is nothing but a huge concentration of trivial matters.” J. Presper Eckhert regarding his thoughts on building Electronic Numerical Integrator and Computer (ENIAC), widely considered to be the first computer.…

Leadership Rules

From a book on economics, complexity theory and economics, below are some good guidelines for managers and leaders developed by the Prussian army: A commanding officer should always give an order for an outcome, never for an action.  This leads the person receiving the order to reflect on and interpret it with all his prior knowledge and in its…

Capitalism vs. Competition

Nevertheless, devaluing competition is a central theme of Thiel’s new book. He asserts that “capitalism and competition are opposites,” because “under perfect competition, all profits get competed away.” He exhorts entrepreneurs to seek out monopolies, concluding, “All happy companies are different: Each one earns a monopoly by solving a unique problem. All failed companies are…