“Action Produces Information”- Paul Graham
Hey guys- welcome back.
I was listening to several podcasts last week, and heard the most insightful quote from Brian Armstrong, one of the recent guests on Tim Ferriss' podcast.
Tim Ferriss is the author of the NY Times bestseller, "The 4-Hour Workweek", the book that redefined time, and Brian Armstrong is co-founder and CEO of Coinbase, the largest publicly-traded cryptocurrency exchange in the United States.
Whether you believe in cryptocurrency or not is not the point of the article.
What we are discussing is entrepreneurship and what it takes to innovate in today's highly chaotic economic and business environment.
The quote is attributed from Paul Graham, the famous venture capitalist, and Y-Combinator co-founder. He has written some very insightful essays, which I would highly recommend for any entrepreneur.
Many famous startups including Stripe, Airbnb, Cruise, PagerDuty, DoorDash, Coinbase, Instacart, Dropbox, Twitch, Flightfox, and Reddit came out of Y-Combinator.
"If you're not sure what to do as an entrepreneur, do anything. Action produces information".
This means try different angles, beta-test different ideas. Take action. Constantly be innovating and trying different things.
You'll notice that I'm always experimenting with new ideas, slants, angles, ventures.
Testing to see what works and what doesn't. What scales and what doesn't scale.
By taking action, you will be setting yourself apart from the rest of the 99% that let fear and procrastination get the best of them.
Taking action gives you information.
Taking action gives you education and experience.
Lastly, taking action gives you momentum.
Here's what I'm paying attention to in my company:
Most recent podcasts launched.
Inspiring Women to Balance Work, Family, and Wellness with Mia Moran (Plan Simple)- in this episode, we discuss our constant "busy'ness" habit, always being in "hustle" mode, and how it is leading to stressed out and unbalanced lives. It was an insightful conversation about finding balance in our hectic world today.
Unleash the Champ Within Using Leadership Coaching with Kyle Sullivan- Kyle is a performance coach, and uses principles from sports and athletics to make meaningful and significant impact in his client's lives.
Most recent articles and books that I'm paying attention to:
Apple getting into health insurance in 2024. The health care companies of tomorrow will be technology companies.
The real reason why Elon Musk bought Twitter. Depending upon how this plays out, Twitter can have enormous implications for Web3, NFT's, crypto payments, and much more.
Chip Wars: The Fight for the World's Most Critical Technology by Chris Miller (October 2022) - Interesting read discussing the semiconductor and microchip industry. The next battleground will be the fight for this critical piece of technology. Looking back at history, World War I and II were all about land, natural resources, oil, energy, political, economic, and military might. The next battleground will be between the United States and emerging countries, most notably China. The fields of cyberspace, cybersecurity, artificial intelligence, blockchain, space, technology, and the battle for intellectual talent will be where the action is. The winner of this next wave will be whoever controls the semiconductor and microchips industry. China's imports of semiconductors has exceeded those of oil. In 2021, it bought more than $430 billion in semiconductors, 36% of which came from Taiwan. Much of it goes into devices made for foreign firms that are then exported to the world. It is the reason why the United States is paying so close attention to China and Taiwan. The country who wins the next innovation battle will be the country that controls this central piece of technology.
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