Before James Dyson decided to found a company he was eager to share his work with the public through prestigious journals, but he was unable to. It turns out that Nature abhors a vacuum.
Any one who is privileged therefore owes it to the world to work on the most obnoxiously hard problems, not just build a life for themselves, but uplift people by building great companies and employing as many people as they can.
The privileged must risk it all, over and over again, until they are tortured to greatness.
This is my version of socialism, re- distribute risk. The rich have a moral imperative to embrace more risk.
you should rarely if ever give away your attention, even accidentally.
money can be earned back. attention is literally your finite experience of being alive.
@RapidoCares This is unacceptable. I lost my headphones in today’s ride. Your app shows the ride but offers no way to contact the driver, and customer support is impossible to reach. Please connect me with the driver immediately. Ride ID: RD17 8408 3492 9540 721.
time for the annual reread.
to be studied, not read.
with more life experience, you learn things missed entirely on previous reads. this only happens with the best of Timeless books.
make a podcast series again on Incerto plus Poor Charlie's Almanack? 200+ hrs of "work" :)👨🏻🍳
I met Kate’s parents.
It was a nail bitter.
We landed after 24 hours of travel and immediately went to her mum’s house where the family congregated… her mum, dad, auntie, three cousins, sister, brother-in-law, a 3-wk old newborn, brother, and soon-to-be sister-in-law. There were 15 of us crammed into a living room.
Upon arriving, someone said “oh I know your content from X”.
Blood drained from my face. Nobody could tell though because my face is already pretty pale.
Her dad and I hit it off. We cracked macadamia nuts from his tree, used an electric saw to open a coconut, and spoke about being carried as a baby by his 14 year old brother in the Bosnian snow while a German shot at them with a machine gun.
Her mother, also from Bosnia, needed some time to warm up. That’s reasonable. I understand. I’m a bit unusual. She’s soft spoken, careful with her words, and protective of her daughter. A few days in and I began to worry that I may head home with an undecided verdict.
I decided to live in her mum’s world. I ate everything she prepared, including meat, bread, and pasta, and embraced the discomfort of being an introvert in a week-long marathon social interaction with the entire extended family.
We spent time in her garden and she fed me stevia leaves, peppers, celery, chives, peanut berry, grapefruit, and starfruit.
Growing up, my mother and I maintained a garden together. I loved tending to it daily and it felt good to be back in the soil. Spending time with Kate’s mum motivated me to grow a longevity garden.
Our shared love of gardening was the first big breakthrough.
What really sealed the deal was when I interviewed Kate’s mum for an hour on camera, covering her upbringing and life and learning more about Kate. Somehow that format allowed her to see me more clearly than a generic social setting.
I think she came to understand and trust my devotion to Kate.
In the final hours before my departure, she was radiating with warmth. The entire family had gathered for a meal and it was laughter and teasing all around.
My love and respect for Kate deepened. I spent time going through all of her childhood things, helping me see and understand her with greater depth. More on this later.
It feels nice to be part of the family.
@sajithpai The business apparently made decent money.
The hardest part was never demand. It was trust. Once the worker understands the routes/customers, they can always leave and start on their own.
He eventually shut it down, but made sustainace money while running it.
@sajithpai Btw laundry/istri is actually a pretty good small business in BLR.
a founder friend tried it in HSR during downtime at his startup. Setup was simple, one guy, washing, drying & ironing setup, one Activa, and ~₹2-3L investment. He cracked PG/apartment pickups + repeat customers
Chinese founders are usually:
- engineers
- party members
- capitalists
In that order.
So when they build or acquire a company, maximizing shareholder value is not the first objective. The first objective is acquiring know-how and industrial capability.
The mindset is: "we should know how to build this thing in China for the simple reason that my civilization needs to learn this sooner or later and i don't care about consequences or optics - if it looks like stealing IP so be it, I don't have to explain..."
The only people judging you are in your local party HQ.
If you’re a credible founder in China, you can go to a local party chief and say: "I need x engineers, land, and some starter funds to build this widget company"
And if the state thinks the industry matters, you’ll get the best resources in the province, industrial land and enough support to get going. The rest is up to you.
Many, many fail. Like most people think they would be successful with capital - go to China and see. You get everything - land, capital, people and even then the success ratio is like 1-5%...
OG American founders were also engineer-first. Bill Hewlett and David Packard built HP as engineers. Same with a lot of old American industrial giants. But over time those founders exited and the boards got taken over by pure financial operators focused entirely on maximizing quarterly shareholder value.
A single generation of this mentality hollowed out the entire American industry. Product-first founders like Elon Musk exist today because there was a generational demand for good engineering lead founders.
Indian boomer founders meanwhile were always capitalist-first from day one. Not even saying that negatively. Many come from communities that are insanely optimized around capital survival and allocation. That’s a real skill developed over centuries.
But the downside of that mindset is that they were rarely engineer-first or product-first EVEN if they were engineers by training. They were always capitalist first.
And that's very reasonable. They're on their own. Nobody has their back. They need to perform or die.
So when an Indian conglomerate acquires something like Jaguar, the instinct becomes:
- optimize margins
- reduce costs
- extract shareholder value
But if you don’t deeply understand first principles of car manufacturing, how much value can you really compound long term ? So companies get handed to hired professionals and MBA operators. The exact same class of people that helped hollow out American industry.
Now America is slowly realizing pure financial capitalism can become self-destructive because eventually the spreadsheet people cannibalize the actual industrial base in pursuit of EPS.
India already lives in that reality. Infosys is a good example. A company effectively consuming itself to maintain quarter-on-quarter performance without aggressively building the future.
And as I said they’re not even wrong. Anyone would do the same unless the system is realigned for long term incentives.
Who in India actually has your back if you miss numbers for 2-3 yrs while investing heavily into long-term capability ? Tesla survived because retail investors and the American public effectively backed Elon Musk through a decade of chaos and losses.
Toyota delivers 6-7x of Tesla's profit EVERY QUARTER but Tesla wins because try posting and see Tesla retail investors explaining you the future of automobiles.
Indian scarcity markets can't and won't tolerate that kind of long-duration industrial gamble. Its a 3k gdp/capita country nobody has time for long term nonsense plus who know who's grfiting vs being serious...people talk about nationalism then take your money and run.
China solved this by
- serve the party
- align with state goals
- stay below the radar and build
the system will protect you while you build.
In India you are on your own.
- manage the regulators
- manage capital - which is very expensive
- manage your own power/infra
- deal with corruption
- manage untrained talent
All of that becomes a massive tax on operations.
Nobody has the time to do any long-term thinking. Any anyone who does that would be eaten alive by those who optimize for survival.