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Bookshelf in 2019 & 2018 (#35)


Key takeaways from my read list, especially #4, #10 and #20


1. Shoe Dog - A memoir by the creator of NIKE


> The cowards never started, the weak died along the way

> You measure yourself by the people who measure themselves by you

 

2. The Bitcoin Standard - The decentralized alternative to central banking


> Centralized ledgers like Visa process 3.2k transactions per second, while a 1MB bitcoin block only allows 4 transaction per second

> Impossible trinity: that no governments can achieve fixed foreign exchange rate, free capital flow and independent monetary policy all at the same time

> In Oct 2009: 5050 bitcoins were sold for $5.02 to register the first purchase of bitcoin for money. Price was calculated based on the amount of electricity needed to produce the bitcoins

 

3. Blockchain Revolution - How the technology behind Bitcoin is changing money, business, and the world


> An internet search is a snapshot in time, while blockchain adds a time dimension

> Pay to script hash (P2SH), an advanced type of crypto transaction, allowing parties to decide on the number of keys required to complete a transaction

> Mining follows a poisson distribution, ranging between a minute to an hour, with an average of 10 minutes

> In 2013, 937 people owned half of all bitcoins

 

4. Blockchain Basics - A non-technical introduction in 25 steps


> Similar to a book, each page represents a block, and the sequence of pages forms the blockchain. The page numbers are the special numbering system of the blockchain, while the words on the pages represent the contents of each block

> 2 ways to describe ownership - Inventory data (like a bank statement showing your bank balance) and transactional data (like a credit card transaction history)

 

5. From Third World To First - Singapore and the economic boom


> Those who try to be clever at the expense of the government should not complain if (my) replies are as sharp as their criticisms

> Singapore filled the void between San Francisco & Zurich time zones, that for the first time enabled global 24 hours banking services

 

6. This Is What Inequality Looks Like - Essays by Teo You Yenn


> Inequality is in fact the logical outcome of meritocracy. When we think that a system rewards individual hard work, when in reality, rewards economic & cultural capital passed from parents to children.

> Poor people don't make poor choices, they just have poor options

 

7. The Warren Buffet Way


> You can't beat the market, its randomness that some people beat the market

> Being ahead of your time is almost indistinguishable from being wrong

> Stick to what you know, and avoid what you don't know

 

8. Becoming


> You may live in the world as it is, but you can still work to create the world as it should be

> The apparatus of privilege and connection, what seemed like a network of half hidden ladders and guide ropes that lay suspended overhead, ready to connect some but not all of us to the sky

 

9. How Google Works


> If you give customers what they are asking for, you are not being innovative, you are just being responsive

> At Google, users are the users of the product, while customers are the companies paying for ads. There's rarely a conflict, but when there is, the bias is towards the users

> Good judgement comes from experience, experience comes from bad judgement

 

10. AI Superpowers - China, Silicon Valley, and the new world order


> 3 ingredients for successful AI: technical expertise, strong entrepreneurs, and data

> Lawyers, doctors and teachers flood major cities for better lifestyles and salaries. As a result, people in lower tier cities are deprived, and AI can level the standards

 

11. Homo Deus - A brief history of tomorrow


> Objective beliefs (eg. gravity is present whether you believe or not)

> Subjective beliefs (eg. I feel my headache, even though all my medical results shows either wise)

> Intersubjective beliefs (beliefs uphold by people eg. Bank notes)

 

12. Digital Gold - Bitcoin and the inside story of the misfits and millionaires trying to reinvent money


> Gold is used as money not because it was valuable, it became valuable because it was used as money

> Bitcoin facilitates transactions that are so small, that it doesn't make sense for regular banks, as the transaction fees would outweigh the transaction amount

 

13. The 5AM Club - Own your morning, elevate your life


> Small, daily, seemingly insignificant improvements when done consistently over time yields staggering results

> Done is better than perfect

> Things that get scheduled get done

 

14. Actionable Gamification - Beyond points, badges, and leaderboards


> Differentiating between left brain & right brain motivators

> Ownership & possession: When users feel a sense of ownership and attachment, they have a higher than market valuation

> Unpredictability & curiosity: Skinner Box experiment

 

15. Inspired - How to create tech products customers love


> Skate to where the puck is heading, not to where it was

> Build for missionaries, not mercenaries

> Be stubborn on the vision, but flexible on the details

 

16. What I Wish I Knew When I Was 20 - A crash course on making your place in the world


> Not everything that can be counted counts, and not everything that counts can be counted. Ethics and creativity can't be counted

> Its better to make meaning than make money

> Your position is how the world sees you. Your place is how you see yourself in the world

 

17. Crossing The Chasm - Marketing and selling disruptive products to mainstream customers


> Trying to cross the chasm without taking a niche market approach is like trying to light a fire without without kindling.

> When choosing the optimal target segment, find something that is big enough to matter and small enough to lead

 

18. The Everything Store - Jeff Bezos and the age of amazon


> Its easier to invent the future than to predict it

> Risk is the function of perception not reality

> Great companies fail not because they want to avoid disruptive change, but because they are reluctant to embrace promising new markets that might undermine their traditional businesses and do not satisfy short term growth

 

19. Predictably Irrational - The hidden forces that shapes our decisions


> Anchoring: Where the first price or first impression sets your expectations for future encounters

> Our propensity to overvalue what we own is a basic human bias

 

20. What Money Can't Buy - The moral limits of markets


> Does the introduction of markets dilute or taint the true value of a good

 

21. Grit - Why passion and resilience are the secrets to success


> Talent is how quickly your skills improve when you invest effort. Achievement is what happens when you take your acquired skills and use them

 

22. 21 Lessons For The 21st Century


> Most people will not suffer from exploitation, but from something far worst, irrelevance

> Human happiness depends less on objective conditions and more on our own expectations. Expectations, however, tend to adapt to conditions.

 

23. Thinking Fast And Slow


> We are prone to overestimate how much we understand about the world and to underestimate the role of chance in events. Overconfidence is fed by the illusory certainty of hindsight

 

24. The Laws Of Human Nature


> Our continually need to rank ourselves and measure our self worth through our status is a trait that is noticeable among all hunter-gatherer cultures, even chimpanzees

> It’s not about possession, but the desire that secretly impels people.

> People display emotions, often to conceal the contrary reality. We must mistrust first impressions, and train ourselves to analyze what you see

 

25. The Hard Things About Hard Things


> If you’re gonna eat shit, don’t nibble

> Figuring the right product is the innovators job, customers only knows what they want based on their experience with current products

> What makes people want to follow a leader: 1) ability to articulate the vision 2) right kind of ambition 3) ability to achieve the vision

 

26. Zero To One - Notes on startups, or how to build the future


> 4 lessons from the dotcom bust: 1) make incremental advances 2) stay lean and flexible 3) improve on the competition 4) focus on the product

> Creating value is not enough, you have to capture value

> Don't enter a perfect competition industry, be a monopoly

 

27. Hooked - How to build habit-forming products


> Increase the ability to complete a desired action, before building the motivation to act

> Just like subjects in a gambling game., what draws us is not the sensation we receive from the reward itself, but the need to alleviate the craving for that reward

.> Investments increase likelihood of users passing through hook mode again by loading the next trigger.

 

28. On Writing Well - The classic guide to writing nonfiction


> Writing is a craft, not an art, and that the man who runs away from his craft because he lacks inspiration is fooling himself.

> Use active verbs, instead of passive verbs. “Joe saw him”, instead of “ he was seen by joe”.

 

29. The Elements Of Style


> Conjunctions indicates time and place

 

30. The Black Swan - The impact of the highly improbable


> The need to study the rare & extreme in order to figure out the common ones

> Millions of small facts that prevail before an event occurs, and only a few will turn out to be relevant later to your understanding of what happened. Because your memory is limited and filtered, you will be inclined to remember those data that subsequently match the facts

> It is much easier to sell "Look what I did for you" than "Look what I avoided for you"

 

31. The Lean Startup - How today's entrepreneurs use continuous innovation to create radically successful businesses


> Most important assumptions that entrepreneurs make: 1) value hypothesis - does it really deliver value? (Experiment rather than survey) 2) growth hypothesis - how many new customers will discover the product (will your early adopters spread the word)

> Although the feedback loop is written as build-measure-learn, our planning works in reverse; figure out what we need to learn then work backwards to see what product will work as an experiment to get that learning

 

32. Lean Analytics - Use data to build a better startup faster

> Chicken-and-egg issue, where 2-sided marketplace needed buyers and sellers. Start with the one with money, hence get the paying customer first. Eg. Uber paid drivers $30/hour to drive, before switching to commission model once it had sufficient demand from consumers.

> 5 stages:

1) Empathy: understand user needs and the problem you are solving.

2) Stickiness: users must love the product.

3) Virality: becomes a force multiplier when you start paid advertising.

4) Revenue: optimize & maximize, are they willing to pay?

5) Scale: acquire new customers from new verticals & geographies. new markets

 

33. How Money Became Dangerous - The insider story of our turbulent relationship with modern finance

 

34. Top 101 Growth Hacks

 

35. The Master Algorithm - How the quest for the ultimate learning machine will remake our world

 










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