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A batch of the best highlights from what Louis's read, .

If your private life conflicts with your intellectual opinion, it cancels your intellectual ideas, not your private life.

Skin_In_The_Game

louis.beaumont@gmail.com

The best market size estimates are both surprising and convincing. To be surprising is the art of the presentation. To be convincing, you want to estimate your market size in at least two different ways. First, use Fermi estimates to determine the number of people who will buy your product (top-down market sizing). This requires general stats like 300 million Americans, 8 billion world population, 30 million US businesses, and domainspecific stats like 6 million annual pregnancies. Second, use SEC filings of comparable companies in the industry to get empirical revenue figures and sum these up (bottom-up market sizing). Bottom-up is generally more reliable. Be sure you are not drawing boundaries too big or optimistic. “If we get only 1% of China…” is a bad start. One of the most convincing things you can do with a bottoms-up estimate is to link or screenshot an invoice with a high price point.

Eric-Jorgenson_The-Anthology-of-Balaji.indd

readwise.io

By selecting and growing those few species of plants and animals that we can eat, so that they constitute 90 percent rather than 0.1 percent of the biomass on an acre of land, we obtain far more edible calories per acre. As a result, one acre can feed many more herders and farmers— typically, 10 to 100 times more—than hunter-gatherers. That strength of brute numbers was the first of many military advantages that food-producing tribes gained over hunter-gatherer tribes.

Jared M. Diamond - Guns, Germs and Steel

1999, W. W. Norton & Company

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