These head-to-head struggles to acquire high-lifetime value customers by pushing more of that lifetime value to later in the customer relationship tend to permanently damage the economics of the business. You don’t just expand into a more price-sensitive customer cohort, you literally make your existing customers price-sensitive.
Productivity growth is the most important variable for ensuring that people can do the stuff they want, broadly defined. Productivity growth gets you rich, it gives you money to raise kids and take care of your parents; and if your ambitions lean to the spiritual or the artistic, it’s perhaps more important. The only way the economy can support people who aren’t trying to get rich is if a lot of people find it easy to get rich.
Feed yourself when you’re hungry; rest when you’re tired; know how to gracefully bow out of a social situation, relationship, house party or job when you need to. If you wait until you’ve passed your limits, you’re going to burn out and burn bridges at the same time.
… construction. These are industries that have been relatively untouched by software until recently. It’s interesting to note that Home Depot is a $180B retailer that has not seen significant threat from internet disruption. The company is trading near its all-time high and has outperformed every other large brick-and-morta…
Diving into the abyss is scary. At first, it may feel like you’re falling. But then, at some point you experience what the young eagle leaving the nest feels. Exhilaration. Freedom. The thrill of entering a whole new world. New possibilities and dreams.