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What I glossed over in Selling the first telephone is the fact that AT&T didn’t actually sell any telephones. Until the breakup of the company in 1984, telephones were rented as part of the monthly service. Renting was a choice to seemingly maximize profits. The excuse AT&T gave the government disallowing customers from owning their own phones was that AT&T was protecting their...
I saw this on Twitter yesterday: These days I spend more time with entrepreneurs who have products in the market and paying customers, rather than the dreamers who are still struggling with their minimal viable productions and first sales. In either case, what I teach entrepreneurs is that they need to not only worry about that first initial design for customers, but every incremental design...
Entrepreneurs are farmers of ideas.Farmers who are living in a perpetual drought.No matter how well we teach entrepreneurship, the drought creates year after year of failed crops. The fix has little to do with more and better incubators, accelerators, and startups labs. This drought is the lack of capital to support the existing startups. Just as we can’t solve a regional drought by...
Back to understanding money and economics, I started reading The New Lombard Street soon after serendipitously discovering the wonderful online class, Economics of Money and Banking by Professor Perry Merhling (@PMerhling). After two or three years buried under other books on my nightstand, prodded a bit by a discussion group popping up on Reddit talking about the class, I finally finished...
I just spent two of the last three weeks of my life attending big, global, virtual conferences. Quite the 2020 experience, made more so by the 11 hour timeshift for one of these plus a one-day conference a month ago. All this has me pondering what is lost in moving conferences online, and more importantly, can be gained from these early experiments. As the pandemic ends, I expect we’ll see...
