Successful output and production might not be everything you think it is.
Nearly all creative production in the entire history of the world is attributed to just a small minority. Perhaps, even, a minority of the minority.
Price’s Law says that a small number of people of the total sum produce the majority of the work or output.
But this also holds true in other aspects of our world, not just people’s production:
- The 100 biggest cities in the world hold nearly 15% of the world’s population.
- The two most populous countries (China & India) are home to 36% of the world’s population.
- Ninety percent of communication happens using just 500 words.
- Only four composers (Bach, Beethoven, Mozart & Tchaikovsky) wrote nearly all of the classical music played by modern orchestras.
But what about the actual producers?
Well the amount of output, at least to everyone but the producer, often seems quite small. But in actuality, it takes a mountain of work to see true, repetitive success.
How many songs can you name from The Beatles? Can you name all 213 of their compositions? The Beatles are a true example of producing a mountain of work and reaping the benefits of success and payoff.
Don’t let the knowledge of Price’s Law discourage you. Let it motivate you.
If you create art, then paint like the wind. If you write, then post every day. If you run a business, submit every proposal you possibly can.
Eventually, something will stick. Eventually, the Price will be just right.
If you want to learn more regarding Price’s law check out this video by Jordan Peterson explaining how it relates to business and many things around us.
Additionally, here’s a good resource by Darius Foroux on why value creation is not symmetric and the importance of doing something you’re good at.
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