Mike's NotesJan 04, 2018
00:00
21:23
From farm to city to car to circuit, the consumer’s story.
See more at thewaiterspad.com
Aug 19, 202123:50
F1 CAC
More: thewaiterpad.com
Aug 06, 202105:16
A confusing calculation
Aug 05, 202107:26
CAC Pack: 5 studies
Five examples about clever Customer Acquisition (Cost) Strategies
1. The Happy Meal
2. AOL Discs
3. HoTMaiL
4. Netflix Coupons
5. Zillow vs Expedia
sorry for the previous episode's audio
Apr 27, 202132:42
The physical to digital trend
The transition from physical to digital is currently happening, this episode looks at examples so far, and tries to raise an awareness for noticing things in the future.
Digital is not better than physical, but digital does improve things relative to certain jobs to be done.
Digital is not better than physical, but digital does improve things relative to certain jobs to be done.
Apr 19, 202111:41
March 18, 2021
Mar 18, 202100:29
Stakeholders 🕖
What are the stakeholders in our lives and what questions can we ask about them?
donate: paypal.me/mikedariano
venmo: mike-dariano
donate: paypal.me/mikedariano
venmo: mike-dariano
Aug 20, 201832:10
Sam Walton, making it in America
Notes and highlights from Walton's book, amzn.to/2uu4S6q.
More at thewaiterspad.com/2018/07/26/sam-walton.
More at thewaiterspad.com/2018/07/26/sam-walton.
Jul 26, 201833:02
An Attitude Of Factfullness
In this episode, we'll look at the numbers (from A or Z to A to Z), the world (it changes), and the brain (it's fast). I'll also suggest some solutions like getting distance, asking 'What's cheaper than a helicopter?', and the advantages of travel.
Hans Rosling's is a nice contribution to the literature of books like A Field Guide to Lies, The Half-Life of Facts, How to Lie with Statistics, and How Not to Be Wrong. What makes Rosling's book different (and excellent) is the gusto. It's a book written by calloused hands. The words on the page are the same that he spoke in Davos. The thoughts are important and the thinking is too.
Hans Rosling's is a nice contribution to the literature of books like A Field Guide to Lies, The Half-Life of Facts, How to Lie with Statistics, and How Not to Be Wrong. What makes Rosling's book different (and excellent) is the gusto. It's a book written by calloused hands. The words on the page are the same that he spoke in Davos. The thoughts are important and the thinking is too.
Jul 18, 201829:15
#101 Venturing And Capitalizing Advice From Chris Douvos
Links at thewaiterspad.com
May 10, 201818:48
CLIP: When was a Derby Horse born?
from the 5/2/18 Wharton Moneyball Podcast
...
"In Gladwell's book, he pointed out in the NHL all these great players were all born in January and February. The leagues are all by age, and so they're older than the other kids and they get the best coaches, and they do the best early, and they go in the best leagues so there's a huge skew toward hockey players born early in the year. Well, in horse racing, every horses's birthday is officially January first. So you're a three-year-old on January first but they're born anywhere from January through June. Since they are only three years old and aren't mature till five you're talking about adolescence. A horse that was born in January is almost forty months old and a horse that was born in May or June is thirty-five or thirty-six months. (In people) it's like fourteen-year-olds versus sixteen-year-olds. It's a big deal." Jeff Seder
...
"In Gladwell's book, he pointed out in the NHL all these great players were all born in January and February. The leagues are all by age, and so they're older than the other kids and they get the best coaches, and they do the best early, and they go in the best leagues so there's a huge skew toward hockey players born early in the year. Well, in horse racing, every horses's birthday is officially January first. So you're a three-year-old on January first but they're born anywhere from January through June. Since they are only three years old and aren't mature till five you're talking about adolescence. A horse that was born in January is almost forty months old and a horse that was born in May or June is thirty-five or thirty-six months. (In people) it's like fourteen-year-olds versus sixteen-year-olds. It's a big deal." Jeff Seder
May 04, 201801:08
CLIP: How to Communicate Analytics
"Teams need to be thoughtful in the way they present this information and they need to allow for different players to want data in different ways. They need to be flexible to really make a difference." Cade Massey
"I remember Sam Hinkie talking about how he conveys information to the organization. Back when he was working for Daryl Morey as assistant GM of the Rockets, Sam would give information to his head coach one way, to Daryl in a different way, to the players in a third way altogether. You're going to be dramatically more effective as an analyst if you can communicate in different ways tailored to the audience." Cade Massey
From the 5/2/18 Wharton Moneyball Podcast
"I remember Sam Hinkie talking about how he conveys information to the organization. Back when he was working for Daryl Morey as assistant GM of the Rockets, Sam would give information to his head coach one way, to Daryl in a different way, to the players in a third way altogether. You're going to be dramatically more effective as an analyst if you can communicate in different ways tailored to the audience." Cade Massey
From the 5/2/18 Wharton Moneyball Podcast
May 04, 201800:20
CLIP: Massey NFL Draft Persistence
In The Success Equation amzn.to/2ecUWVU Michael Mauboussin urgers readers to ask; how fast is mean reversion, how predictable is the result, and are cause and effect easily identifiable? Those answer will guide a person to using base rates or experience as their decision guide.
This clip is from the 5/2/18 Wharton Moneyball Podcast
This clip is from the 5/2/18 Wharton Moneyball Podcast
May 04, 201800:24
Three ideas from Albert Wenger #100
1/ Adapting your thesis
2/ Crypto-currency and techno-economic changes.
3/ Wolrd After Capital
2/ Crypto-currency and techno-economic changes.
3/ Wolrd After Capital
May 02, 201825:47
#099 Brian Koppelman's career capital, chips, and arc
How do you make Billions? Spend two hours a day six days a week writing in a storage locker with one chair with your best friend and then repeat that (kinda) for twenty years.
Apr 24, 201830:14
How Katrina Lake started Stitch Fix
Apr 10, 201818:54
skimm lessons
In summary, Danielle Weisberg and Carly Zakin have succeeded because they noticed poor product-market fit and made a small bet to build something using their existing skills and being curious along the way. Once their brand snowball got rolling, they focused on strengthening it and are now expanding to other areas.
More notes at thewaiterspad.com/2018/03/19/theskimm/
More notes at thewaiterspad.com/2018/03/19/theskimm/
Mar 19, 201823:00
Moats and Allocators
- Why does alpha erosion occur?
- How are business moats built?
- Who are the best capital allocators?
Show notes at: thewaiterspad.com/2018/03/01/moats-and-allocators
- How are business moats built?
- Who are the best capital allocators?
Show notes at: thewaiterspad.com/2018/03/01/moats-and-allocators
Mar 01, 201845:07
David Ogilvy's work 'rules'
David Ogilvy was known for his advertising 'rules.' After diving deeper into his work I found out these aren't really rules at all but conclusions. Ogilvy's first principle is *do what works*. This episode will focus on three things that anyone in any industry can do.
1/ He was objective in his research. If the facts differ from your beliefs, change your beliefs rather than the facts.
2/ He created advertising around big ideas. Images should aim to inspire intrigue, not win awards at Cannes.
3/ He groomed a culture. Hire "gentlemen with brains" and give them the autonomy to do good work. Also, avoid bureaucratic bloat. "If you were a dairy farmer and kept cows, would you employ twice as many milkers as you have cows?"
A pdf of this is available at thewaiterspad.com
1/ He was objective in his research. If the facts differ from your beliefs, change your beliefs rather than the facts.
2/ He created advertising around big ideas. Images should aim to inspire intrigue, not win awards at Cannes.
3/ He groomed a culture. Hire "gentlemen with brains" and give them the autonomy to do good work. Also, avoid bureaucratic bloat. "If you were a dairy farmer and kept cows, would you employ twice as many milkers as you have cows?"
A pdf of this is available at thewaiterspad.com
Jan 30, 201838:48
Grab Bag 4
A few things that caught my eye. Notes at thewaiterspad.com
Why is Nick Saban undefeated against former assistant coaches?
Why is Philadelphia an undefeated home underdog?
Why are there called strikes in betting pools?
Why is visualizing data so helpful?
Why is novel data helpful too?
Why is a bit identity footprint better?
Why is Nick Saban undefeated against former assistant coaches?
Why is Philadelphia an undefeated home underdog?
Why are there called strikes in betting pools?
Why is visualizing data so helpful?
Why is novel data helpful too?
Why is a bit identity footprint better?
Jan 25, 201821:57
#093 The 2 🌍 's of Business, revisitng Brian Arthur
More details at: thewaiterspad.com
Arthur's paper: www.iwp.jku.at/born/mpwfst/02/BArthur/Arthur_B.pdf
Mauboussin's interview: overcast.fm/+Iz-J-F6_E
Arthur's paper: www.iwp.jku.at/born/mpwfst/02/BArthur/Arthur_B.pdf
Mauboussin's interview: overcast.fm/+Iz-J-F6_E
Jan 14, 201815:53
#092 Traffic assumptions, traffic feedback, traffic adaptations.
Inspiration: amzn.to/2kf2xXW
Jan 04, 201821:23
Things I learned in '17 - Part 2
Part two of the audio version of these posts: thewaiterspad.com/?s=%22TIL2017+Summary+Series%22
Dec 17, 201716:18
Things I Learned in '17 - Part 1
An audio version of the end-of-year posts at thewaiterspad.com
Dec 12, 201725:45
Rory Week - posts in audio
For links and block quotes: thewaiterspad.com/2017/10/23/rory-week-15/
Oct 26, 201740:34
Oct 05, 201716:00
The effects of cities - or any system
We all exist within a system and each system nudges (or shoves) us certain ways. Whether it's women in tech, people on bikes, or neighborhoods with more roads than sidewalks.
Inspiration from amzn.to/2xBVGj6
Notes: docs.google.com/document/d/1P7RdgegXusudhZBhhfQF3lfV77Vlofwf6GQgRMNocQQ/edit?usp=sharing
Inspiration from amzn.to/2xBVGj6
Notes: docs.google.com/document/d/1P7RdgegXusudhZBhhfQF3lfV77Vlofwf6GQgRMNocQQ/edit?usp=sharing
Sep 24, 201723:09
Does architecture make you happy?
Inspiration: amzn.to/2vpYJJK
Aug 11, 201712:08
Tea And Platforms
For All the Tea in China amzn.to/2u9Mam1 is a wonderful book. It covers the 1800 East India Company, Robert Fortune (and his forgotten wife!), and how to succeed in England without even dying. We'll touch on only a few parts of Fortune's story.
Modern Monopolies amzn.to/2uj8REC makes the case that it's platform businesses that will rule the day. I guess that YouTube is the best of these. We also look at 6 things platforms need to do (#5 is no naked men).
Modern Monopolies amzn.to/2uj8REC makes the case that it's platform businesses that will rule the day. I guess that YouTube is the best of these. We also look at 6 things platforms need to do (#5 is no naked men).
Jul 12, 201727:04
Talking to Dead Companies Walking
Inspiration: amzn.to/2ti2tKk
Any business person needs to get out of the office and talk to her suppliers, customers, and competitors.
"Get up and go outside, you'll learn more in five minutes of talking to somebody at a company than you will in a week of crunching its numbers." - Stephen Mandel
They'll all have their own biases but they also have crucial information.
You will too. "I was mixing up what I liked with what my customers wanted, writes Fearon.
If you make a mistake, get out.
"Quitting is very important when buying and selling stocks."
Any business person needs to get out of the office and talk to her suppliers, customers, and competitors.
"Get up and go outside, you'll learn more in five minutes of talking to somebody at a company than you will in a week of crunching its numbers." - Stephen Mandel
They'll all have their own biases but they also have crucial information.
You will too. "I was mixing up what I liked with what my customers wanted, writes Fearon.
If you make a mistake, get out.
"Quitting is very important when buying and selling stocks."
Jul 07, 201709:27
3 ERE ideas
Early Retirement Extreme by Jacob Fisker amzn.to/2tnUNJ1 1. Reframe where you are. 2. The more you know the less you need. 3. A robust modular life.
Jun 29, 201709:33
OODA WHAT?
OODA WHAT? by MIKE
Jun 12, 201708:01
Jun082017
OQ/ amzn.to/2rQ59hC
1/ The Startup, amzn.to/2rftD5h. Failed startups, amzn.to/1nztynB
2/ Breaking apart problems (multiplication, Legos)
3/ Beanie Babies post, thewaiterspad.com/2017/06/07/beanie-babies/beanie-babies
4/ Culture advice from a "Bull"
1/ The Startup, amzn.to/2rftD5h. Failed startups, amzn.to/1nztynB
2/ Breaking apart problems (multiplication, Legos)
3/ Beanie Babies post, thewaiterspad.com/2017/06/07/beanie-babies/beanie-babies
4/ Culture advice from a "Bull"
Jun 08, 201724:32
Jun012017
OQ: amzn.to/2rftD5h
1/ Star Wars convexity
2/ Checklists are fun!
3/ Base rates on motorcycles
4/ The stories we tell ourselves
Support: gumroad.com/l/mikesnotes
1/ Star Wars convexity
2/ Checklists are fun!
3/ Base rates on motorcycles
4/ The stories we tell ourselves
Support: gumroad.com/l/mikesnotes
Jun 01, 201722:10
May252017
OQ: amzn.to/2pBTq6T
5:50 don't shoot the dog
11:30 walking the idea maze
17:30 boring businesses
23:30 the David Swenson checklist
Support: gumroad.com/l/mikesnotes
5:50 don't shoot the dog
11:30 walking the idea maze
17:30 boring businesses
23:30 the David Swenson checklist
Support: gumroad.com/l/mikesnotes
May 25, 201730:38
May182017
OQ: Dan Carlin on the History on Fire podcast
1/ What job does this service/product do? What job are YOU hired for?
2/ Good decision makers put their thoughts down on paper. One way to do that is with checklists.
3/ To learn, find relevance not information.
4/ Common principles to wealth and health. (https://thewaiterspad.com/2017/05/15/finances-and-fitness/)
1/ What job does this service/product do? What job are YOU hired for?
2/ Good decision makers put their thoughts down on paper. One way to do that is with checklists.
3/ To learn, find relevance not information.
4/ Common principles to wealth and health. (https://thewaiterspad.com/2017/05/15/finances-and-fitness/)
May 18, 201723:05
May042017
OQ: amzn.to/2pBTq6T
#1 What to do when 'that's interesting.'
#2 Technology is not the MIT for technology startups, instead it's luck, persistence, and elbow grease.
#3 When starting, copy structures, formulas, or philosophy. When advancing be more like Sherlock Holmes
#1 What to do when 'that's interesting.'
#2 Technology is not the MIT for technology startups, instead it's luck, persistence, and elbow grease.
#3 When starting, copy structures, formulas, or philosophy. When advancing be more like Sherlock Holmes
May 04, 201721:09
Apr272017
One subject; amzn.to/2lWGK79
Apr 27, 201720:35
Apr202017
Intro: the metaphor of tracking (Boyd Varty on Invest Like the Best).
1/ Thinking Small, amzn.to/2oNLFKF.
2/ Multiple compound yields and the triangle of mediocrity.
3/ Patrick Collison on starting a startup
4/ Me on Ryan Holiday on reading
1/ Thinking Small, amzn.to/2oNLFKF.
2/ Multiple compound yields and the triangle of mediocrity.
3/ Patrick Collison on starting a startup
4/ Me on Ryan Holiday on reading
Apr 20, 201726:54
Apr062017
Greek heroes, getting better, building your toolbox, and arguing well.
Mike's Notes - thewaiterspad.com/mikes-notes/
Mike's Notes - thewaiterspad.com/mikes-notes/
Apr 06, 201728:08
Clip: Danny Kahneman "Slow Down"
From Santa Fe Institute: www.youtube.com/watch?v=QSCbnS1yCzI
Apr 03, 201700:26
Mar302017
Intro: Tools of Titans, but for classical education
1/ 20 year technology cycles
2/ Using the 51% solution at Soulcycle
3/ Reading advice from president Obama's Chief of Staff
1/ 20 year technology cycles
2/ Using the 51% solution at Soulcycle
3/ Reading advice from president Obama's Chief of Staff
Mar 30, 201719:19
Mar232017
Mar 23, 201718:40
Mar162017
How to learn algebra.
What does flipping burgers and "plain vanilla stock picking" have in common?
Can you get paid more for the work you love? (Sisyphus)
A couple lessons from Danny Meyer.
What does flipping burgers and "plain vanilla stock picking" have in common?
Can you get paid more for the work you love? (Sisyphus)
A couple lessons from Danny Meyer.
Mar 16, 201722:32
Mar092017
All NBA edition, mostly based on Daryl Morey's interview with Zach Lowe at MIT Sloan.
Questions? 559-464-5393 or @mikedariano
Questions? 559-464-5393 or @mikedariano
Mar 09, 201722:13
Mar022017
Introduction quote: www.safalniveshak.com/investing-simple-not-easy/
Taleb’s MOOC: www.youtube.com/channel/UC8uY6yLP9BS4BUc9BSc0Jww
Prisoners of Geography: amzn.to/2lWGK79
a16z podcast: a16z.com/2017/02/25/reedhastings-netflix-entertainment-internet-streaming-content/
Cowen’s book: amzn.to/2lWA6Og
The Marshmallow Test: amzn.to/2mrwWBW
Pressfield interview: www.artofmanliness.com/2017/02/23/podcast-281-overcoming-resistance-turning-pro/
Bushnell interview: www.npr.org/podcasts/510313/how-i-built-this
My blog: thewaiterspad.com
My latest project: gum.co/philiprocess
Taleb’s MOOC: www.youtube.com/channel/UC8uY6yLP9BS4BUc9BSc0Jww
Prisoners of Geography: amzn.to/2lWGK79
a16z podcast: a16z.com/2017/02/25/reedhastings-netflix-entertainment-internet-streaming-content/
Cowen’s book: amzn.to/2lWA6Og
The Marshmallow Test: amzn.to/2mrwWBW
Pressfield interview: www.artofmanliness.com/2017/02/23/podcast-281-overcoming-resistance-turning-pro/
Bushnell interview: www.npr.org/podcasts/510313/how-i-built-this
My blog: thewaiterspad.com
My latest project: gum.co/philiprocess
Mar 02, 201721:04
Feb232017
Opening quote: www.cnbc.com/amp/2017/02/16/entrepreneur-takes-wednesdays-and-it-has-made-him-millions.html
1/ 1:30 Malcolm Gladwell solves the endowment effect.
2/ 5:05 Setting The Table by Danny Meyer. amzn.to/2kGVzO0
3/ 10:45 What does retirement mean? Inspiration from EarlyRetirementExtreme.com and MrMoneyMustache.com
4/ 13:45 Personalization is hard but something we need more of.
5/ 17:02 How businesses are like fractals. Inspired by InvestorFieldGuide.com
My blog: TheWaitersPad.com
Feedback: thewaiterspad.com/podcast-feedback/
1/ 1:30 Malcolm Gladwell solves the endowment effect.
2/ 5:05 Setting The Table by Danny Meyer. amzn.to/2kGVzO0
3/ 10:45 What does retirement mean? Inspiration from EarlyRetirementExtreme.com and MrMoneyMustache.com
4/ 13:45 Personalization is hard but something we need more of.
5/ 17:02 How businesses are like fractals. Inspired by InvestorFieldGuide.com
My blog: TheWaitersPad.com
Feedback: thewaiterspad.com/podcast-feedback/
Feb 23, 201722:05
Feb0162017
Intro quote from: amzn.to/2kJDfzz
Russ Roberts explains hindsight bias (02:00)
When listening, aim for understanding not necessarily agreement (07:05)
Backstops for life (09:55)
Context matters, NBA edition with Bill Simons (15:40)
Public understanding of risk (19:55)
Feedback: thewaiterspad.com/podcast-feedback/
My book about Belichick: amzn.to/2kYSrMR
My website: thewaiterspad.com
Russ Roberts explains hindsight bias (02:00)
When listening, aim for understanding not necessarily agreement (07:05)
Backstops for life (09:55)
Context matters, NBA edition with Bill Simons (15:40)
Public understanding of risk (19:55)
Feedback: thewaiterspad.com/podcast-feedback/
My book about Belichick: amzn.to/2kYSrMR
My website: thewaiterspad.com
Feb 16, 201722:26
Feb092017
A new format for the podcast as I tinker. For now expect weekly summaries - released on Thursdays - of things I learned.
(00:39) Judd Apatow explains loss aversion via Super Bowl bets.
(03:45) The importance of work relationships - something I lack.
(08:45) Solving problems with knowledge from more than one domain.
(13:10) Asymmetrical returns. What areas of your life can you 'tip the scales' so if you win you win big but if you lose you lose little or nothing?
(20:26) Digging past the first statistic. How much does earnings season matter? How accurate are average Super Bowl ticket prices? We should be careful.
If you liked this episode and format you can let me know by clicking here: thewaiterspad.com/podcast-feedback/
(00:39) Judd Apatow explains loss aversion via Super Bowl bets.
(03:45) The importance of work relationships - something I lack.
(08:45) Solving problems with knowledge from more than one domain.
(13:10) Asymmetrical returns. What areas of your life can you 'tip the scales' so if you win you win big but if you lose you lose little or nothing?
(20:26) Digging past the first statistic. How much does earnings season matter? How accurate are average Super Bowl ticket prices? We should be careful.
If you liked this episode and format you can let me know by clicking here: thewaiterspad.com/podcast-feedback/
Feb 09, 201726:34
Judd Apatow explains Loss Aversion on The Adam Carolla Show
Judd Apatow explains Loss Aversion on The Adam Carolla Show by MIKE
Feb 08, 201700:14