Quote of the week:
“Human beings, it seems, are at their best when immersed deeply in something challenging.” — Cal Newport
The link between music and business
One fascinating anecdote from this Farnam Street conversation with Brad Jacobs was that Brad views himself primarily as a musician who just so happens to be extraordinarily successful at building companies: “I self-identify as a musician more than as a businessperson,” he says. “You might find [this] odd, because I’ve spent a lot of time building big businesses and running large enterprises.”
For the uninitiated, Jacobs is a serial founder and CEO who has started, built, and operated multiple billion-dollar publicly-traded firms. But it was his obsession with music—and studying with jazz greats like Milford Graves—that gave him the foundation of improvisational skills to be successful in business. Jacobs is a fantastic example of a multidisciplinary operator; he takes his cues from the world of art, psychology, math, and music to make decisions in a highly dynamic environment.
“It’s being able to improvise,” he says. “Part of that whole [jazz] training was to be spontaneous and to be improvising and to be in the moment. And there is no wrong note. If someone plays a note, that’s just a new note; it’s not the wrong note.” He continues:
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What investors can learn about independent thinking from Moby Dick
Moby Dick was a novel ostensibly about a ship captain obsessed with hunting down a whale. But it’s an allegory about so much more: mania, obsession, blindly following a leader, and taking on too much risk. That is to say, there is a good lesson in there for stock market investors.
Jonny Thomson explores this concept—and particularly the idea of “pluralistic ignorance”—in a recent essay for Big Think. At its core, Thomson’s essay is about the importance of avoiding groupthink and learning to question the status quo.
Referencing Moby Dick, Thomson writes: “The sailors of the Pequod were trapped by a great many things. They were entranced by the spell of Ahab’s personal charisma and anesthetized by a heady potion of loyalty, stirred through with fear. But more than anything else, the crew were caught in a condition known as ‘pluralistic ignorance.'” He continues:
A few more links I enjoyed:
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