Entrepreneurship facts

 Facts about Entrepreneurship :-


An antidote

Gratitude might be the way forward.

So much of what ails us gets a bit better when we say ‘thank you.’

Even when it’s hard.

Especially then.


How long is “never”?

It changes. It changes as we age, and it changes depending on the situation.

A second-grader might think that a boring class is never going to end.

A bad cold might feel endless, unless we have the perspective of someone who has experienced a chronic problem.

Some things actually deserve “never.” But most of what we’re worried about probably would be better categorized as “eventually.”


People problems are complicated problems

Engineering problems are difficult, but they have a right answer.

People problems, by their nature, are on a spectrum, a distribution of possible forward paths. But they’re complicated. A situation might not fit a person, and vice versa. Add a second person and now you have two people, and two people interacting exponentially increase the number of possibilities.

Knowing this takes the pressure off. Because there isn’t a perfect solution to a people problem. Simply an available path forward that helps us get to the next step.


Contracts and power

A written contract benefits the party with the least power.

Power might be in the form of money, access to plenty of lawyers or simply a willingness to burn it all down to the ground.

In the moment before a contract is signed, the lower-powered party momentarily has more power. That’s because the other entity wants what you have. But as soon as they have it, it’s only the contract that offers concrete protection against future events.

Handshake agreements are great when there’s an ongoing, stable interaction. As long as each side is honorable, the other party can continue to do what they said they were going to do. But when priorities or outside factors shift, an at-will arrangement can end up harming the person who can least afford it.

The two things to focus on are:

  1. Is the contract specific enough so that there’s no doubt about who is supposed to do what, even when the world changes?
  2. Are the remedies in the contract clear enough so that if the contract isn’t honored, the lower-power party can easily and efficiently obtain a fair result?

This is why adding a binding informal arbitration clause to a contract is a smart idea. Why it makes sense for there to be worker and other protections in the law. And why we need to reinforce and applaud judicial systems that enforce clearly defined agreements.


No competition

There’s no competition for cookbooks on making food out of soccer balls and hockey pucks.

There’s no competition for software that charges you to find out the temperature on Mars.

There’s no competition for a service that counts how many pairs of shoes you own.

In fact, in every market that’s worth entering, there’s competition. That’s what you’re looking for. It’s a sign that people have a problem that they’re trying to solve through commerce.

The goal isn’t to find no competition. It’s to find a better way to solve the problem.


Micropayments for content

This is a problem that comes up every year or two, but no one has implemented a useful solution yet.

Advertising is a surprisingly bad way for a culture to pay for content, because the kind of content that gets rewarded is often dumbed down for a large audience or is optimized for a small audience of people eager to buy something that makes a profit.

It’s also inefficient, as advertisers can’t know in advance what’s going to work, and creators get a very small share of the ad spend.

An alternative is to pay for what you get, the way we treat carrots, baseballs and clarinets. Instead of buying a baseball, though, you’re buying a chance to watch a video.

Micropayments are a system where you pay a penny or a nickel or a dollar for a piece of content.

It introduces two kinds of friction, though:

  1. There needs to be a tech system that can effectively move tiny amounts of money around.
  2. As a reader/consumer of content, you need to constantly make decisions about what’s “worth it.”

About thirty years ago, I described a simple solution to both problems:

For $25 you can buy a content passport. It’s available for purchase on any website that is part of the content network, and you need one to read the content on their site. The site that sells it to you gets $10 in commission for selling it to you.

It keeps track of every member site you visit (that’s really easy now, with a cookie). And then the coordinator of the system allocates, on a percentage basis, $10 to the sites you visit. It’s all gonna go somewhere, whether you visit one site or a thousand. There’s no friction, because it’s a buffet, just like it is now. Read all you want, no ads, no hassles.

The sites that get visited the most get the most aggregate money from the monthly distributions of royalties.

Each site has an incentive to sell a lot of passports (the commission is significant) and the coordinator of the network is making 25% as well.

It’s really clear who the customer is (the reader) and it’s easy for any site to join the network. Aligned incentives, a simple and resilient solution.

Have fun. (PS this is unrelated to yesterday’s post about federations, just a coincidence.)

Comments

Post a Comment

Popular posts from this blog

STOP CHILD MARRIAGE.

Image
CHILD MARRIAGE IS A CRIME In India, Marriage is considered as one of the most important social institutions through which society perpetuates as it is a means of establishing family relations. This social institution is expressed in many forms of rituals and ceremonies. In India, around 45 percent of the girls are wedded below 18 years of age. Niger is placed on top in the world for child marriages under 18 years of age (74.5%), followed by Chad, Mali, Bangladesh, Guinea and Central African Republic. Majority girls who are married before 18 years of age are from poor families. Most of the girls use to face problems like domestic violence, pregnancy problems and death cases. Girls who are younger than 15 years are more prone to die in childbirth than a woman who is in her 20s. The age group under 18 year has a high fertility. Child brides often show signs and symptoms of sexual abuse and post-traumatic stress such as feelings of hopelessness, helplessness and severe depression. Child ma...
Read more

Its okey Honey!

Image
 Why not, speak up.   In this fast growing world, Step up to care about your own mind.      Why is mental health neglected mostly? its okay, you'll be fine.  Yahhh whateverrr, its common. Its just your age and a phase, it'll go. In India most of the people doesn't consider mental illness as a serious issue. Peoples feel shy , stupid to share about their mental health.  Elders won't talk to their loved or close ones thinking they might leave or see 'em as stupid. Children can't share with  their parents as they wont accept it or think its common as in stress.      Mental health is as important as physical health.    To cope-up your physical health you'll exercise, yoga, eat healthy,      go to gym, play sports .       But how to overcome mental illness ? Value yourself: Treat yourself with kindness and respect, and avoid self- criticism. Take care of your body: Taking care of yourself phys...
Read more

Pathetic Pandemic

Image
  Pathetic Pandemic   Coronavirus Disease of 2019 According WHO, Coronavirus disease (COVID-19) is an infectious disease caused by a newly discovered SARS-CoV2 virus. Most people infected with the COVID-19 virus will experience mild to moderate respiratory illness and recover without requiring special treatment. The COVID-19 virus spreads primarily through droplets of saliva or discharge from the nose when an infected person coughs or sneezes, so it’s important that you also practice respiratory etiquette (for example, by coughing into a flexed elbow) 3 Phases of Covid-19 Phase 1 : During the early infection phase (Phase 1), the virus multiplies inside the body and is likely to cause mild symptoms that may be confused with a common cold or flu. Phase 2 : The second phase, according to the scientists, is the pulmonary phase (Phase 2), when the immune system becomes strongly affected by infection, and leads to primarily respiratory symptoms such as persistent cough, shor...
Read more