If you’re in San Francisco it is apparently worth checking out Hotel Biron and Zuni Cafe.
“I was actually doing some marketing, doing ad
buys and helping them track the conversions for a little CMGI-funded start-up.
It was an online furniture store and we thought we were going to make billions,
but it turns out people don’t like to pay the shipping for really heavy furniture
on the internet”
- There are some categories of selling online that haven’t grown as quickly. Heavy Bulky Items like Cement, Furniture and Landscaping Material haven’t really been impacted by stronger online offerings. Some of the problems that Wayfair discusses for online furniture shopping are low confidence from customers, trouble visualizing what a product will look like and a tougher time to display furniture. Shipping Furniture can also result in damages, and due to the higher weight lower value nature of the products, this results in much higher return/warranty costs.
“There’s like 20 spaces on your iPhone in the default screen. What is one of
those icons going to be? Is there going to be something that is that prominent,
that is that important that it will take up some of that default real estate on my
- Real Estate is still an important factor for digital offerings. If a company ends up on the top search engines for a particular keyword, that can sustainably boost traffic to their products or services. If you could somehow force an app online the millions or billions of phones that are available today that could be a very effective way to get your product into the hands of potential users.
“Of course, the first rule of investing is, “Rule #1, Do not lose money. For Rule
#2, see Rule #1,” according to Buffett, but as an annual thing it’s important.
You need to develop rules. You’re going to miss some winners, but develop
rules so that you can at least avoid losing a large chunk of capital. That’s all I
have to say about that.”
- It’s sort of strange that a venture capital investor is quoting Buffett, because well in most cases they do lose money on individual investments. While at the portfolio level, it doesn’t really seem like this is a common occurrence. There appears to be a similar theme with other great investors, it’s more about mitigating downside than capturing all the upside.
When asked if he could study from any expert in the world he said. “I would probably pick some type of meditation guru. I know this is totally
doable, but the issue that I have now is that I feel that the computer’s a constant
stimulus. I don’t know about you but it’s extremely blurred, the personal time
versus work time.
Because of that I feel like my brain is being slowly scrambled. I feel like it’s
always on edge, it’s being fragmented, and I feel like we’re going to realize in
short order here in the next 10-20 years that all this distraction stuff is really
messing with our brains. I feel like I need to find that balance and I haven’t
done that yet. “
- Elon Musk has talked about in the past, that our phones are becoming sort of an extension of the human brain. It doesn’t seem clear that we’ve figured out a way to optimize using a combination of both. The Human Computer Centaur isn’t working yet. Speaking to people in person more frequently might help with this challenge.
“I think you should be looking for something that consumes you, in a way. I
know that might sound negative to some people, but if you’re not at “Hell yes!”
about what you’re doing, then why are you doing it, or should you be looking
for something else?”
- I have an awesome job. I wish more people could do what they enjoy but i don’t think this is possible in reality.
“I think if I’ve learned anything in the last 10 years of doing this it’s that there is
no shame in admitting that you don’t understand something, because you can
either fuck it up, and that’s when you act like you understand something and
you actually don’t, or you can admit it one time, learn it, and then move on and
become a better person and just more well-rounded and actually get serious
about building a business.”
- I have been listening to another podcast lately, OGO Lead. This idea of being humble and saying I don’t know has been a recurring theme among some pretty high profile leaders. Probably something I should get a bit more comfortable saying more often.
Check out tim.blog/podcast for more.