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“Raise Prices” This was Marc’s response to “If you could have a billboard anywhere, what would it say?” He’d put it right in the heart of San Francisco, and here’s the reason: “The number-one theme that companies have when they really struggle is they are not charging enough for their product. It has become conventional wisdom in Silicon Valley that the way to succeed is to price your product as low as possible, under the theory that if it’s low-priced, everybody can buy it, and that’s how you get to volume,” he said. “And we just see over and over and over again people failing with that, because they get into a problem called ‘too hungry to eat.’ They don’t charge enough for their product to be able to afford the sales and marketing required to actually get anybody to buy it. Is your product any good if people won’t pay more for it?”
Tools of Titans
Timothy Ferriss
‘If I had to summarise the essence of what economic history can contribute to economic science, I would say that there exist no “laws” or rules in economics which are valid for all periods of history.’ Paul Bairoch,
How Asia Works
Joe Studwell
A fourth factor was the two-way link between the rise in human population density and the rise in food production. In all parts of the world where adequate evidence is available, archaeologists find evidence of rising densities associated with the appearance of food production. Which was the cause and which the result? This is a long-debated chicken-or-egg problem: did a rise in human population density force people to turn to food production, or did food production permit a rise in human population density? In principle, one expects the chain of causation to operate in both directions. As I’ve already discussed, food production tends to lead to increased population densities because it yields more edible calories per acre than does hunting-gathering. On the other hand, human population densities were gradually rising throughout the late Pleistocene anyway, thanks to improvements in human technology for collecting and processing wild foods. As population densities rose, food production became increasingly favored because it provided the increased food outputs needed to feed all those people. That is, the adoption of food production exemplifies what is termed an autocatalytic process—one that catalyzes itself in a positive feedback cycle, going faster and faster once it has started. A gradual rise in population densities impelled people to obtain more food, by rewarding those who unconsciously took steps toward producing it. Once people began to produce food and become sedentary, they could shorten the birth spacing and produce still more people, requiring still more food. This bidirectional link between food production and population density explains the paradox that food production, while increasing the quantity of edible calories per acre, left the food producers less well nourished than the hunter-gatherers whom they succeeded. That paradox developed because human population densities rose slightly more steeply than did the availability of food. Taken together, these four factors help us understand why the transition to…
Guns, Germs, and Steel
Jared Diamond
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