CDOQ

7 Heuristics (experience-based techniques for problem solving) for Entrepreneurial Success Innovation is about creating  new   things. But how do you create new things that people are willing to use and pay for? Ambiguity and uncertainty are always associated with innovation. Generally, people have a tough time dealing with both. One of the reasons that big corporations are not good at creating new things is that they are not structured to do unpredictable things -  a hallmark of the startup environment . There is no predictability when creating a new business with an idea.  Startup is a complex system problem because creating a successful business depends on the interplay amongst the idea, market, people, and capital. The outcome is unpredictable and it can change the world.  The unknowable can only be understood by doing  When you are starting a company or developing something new, you have an idea, you may have a...

Why do we want to be happy all the time? How will we recognize the feeling of happiness if we are happy all the time? Are feelings absolute?

A bureaucracy generally solves a problem by increasing bureaucracy.  

When people do not know what to do, they tend to follow what others around them are doing. 

An award is someone else's opinion. 

There is always a better option that you cannot have. 

Sometimes, not knowing enough can be the greatest strength. 

My grandmother (Baji), Laj Tuteja, passed away on April 24th, 2014. It is sad to have the last grandparent leave the earth. It feels like a link to myself and to the world is broken. Baji helped raise me and hence heavily influenced early years of my life. Her strength of character was exemplary. My grandfather died at a young age and Baji became a widow with five children. People who were supposed to help her in time of need betrayed her and she became very poor from being very rich shortly after she became a widow. Despite seeing the dark side of human nature, Baji was always loving and kind to everyone. Raising five children as a single mother without money was a daunting task in India in the mid twentieth century. However, no obstacle could waver her from her goals and she never compromised on her principles, All the five children are well-settled today. Whenever, I need the strength to get through something tough, I think of Baji.  May Baji rest in peace. 

The first rule of the game is to know that you are in one. - Sandra Lerner 

Line to get in at 6:15AM. By the way, the meeting is at a stadium!  You can't get enough of Munger. He might be the smartest man alive. I was in Omaha last weekend to attend the "Woodstock of Capitalism" i.e. Berkshire Hathaway annual shareholder meeting. This year, 38,000 people showed up to acquire wisdom from Charlie Munger and Warren Buffett. This is my 7th or 8th time at the meeting and I am as impressed as the first time . See my notes from the last year's meeting  here .  Line to get in at 6:30AM Following are the pearls of wisdom I gathered this year:  Inside the stadium at 7:15AM. Q&A begins at 9:30AM Timing  1. Berkshire always releases earnings on Friday after the market-close so that people have time to read and digest the information over the weekend before they trade.  Insurance Business 2. Changes in insurance underwriting do not matter quarter to quarter. It is a l...