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How to Make Wealth

How to Make Wealth
May 2004 (This essay was originally published in Hackers & Painters.) If you wanted to get rich, how would you do it? I think your best bet would be to start or join a startup. That's been a reliable way to get rich for hundreds of years. Startups usually involve technology, so much so that the phrase "high-tech startup" is almost redundant. Lots of people get rich knowing nothing more than that. The Proposition Economically, you can think of a startup as a way to compress your whole working life into a few years. Here is a brief sketch of the economic proposition. Like all back-of-the-envelope calculations, this one has a lot of wiggle room. If $3 million a year seems high, remember that we're talking about the limit case: the case where you not only have zero leisure time but indeed work so hard that you endanger your health. Startups are not magic. Millions, not Billions If $3 million a year seems high to some people, it will seem low to others. Money Is Not Wealth The Pie Fallacy Related:  market

The 18 Mistakes That Kill Startups October 2006 In the Q & A period after a recent talk, someone asked what made startups fail. After standing there gaping for a few seconds I realized this was kind of a trick question. It's equivalent to asking how to make a startup succeed—if you avoid every cause of failure, you succeed—and that's too big a question to answer on the fly. Afterwards I realized it could be helpful to look at the problem from this direction. In a sense there's just one mistake that kills startups: not making something users want. 1. Have you ever noticed how few successful startups were founded by just one person? What's wrong with having one founder? But even if the founder's friends were all wrong and the company is a good bet, he's still at a disadvantage. The last one might be the most important. 2. Startups prosper in some places and not others. Why is the falloff so sharp? 3. If you watch little kids playing sports, you notice that below a certain age they're afraid of the ball. 4. 5. 6. 7. 8. 9.

How to win Rock-paper-scissors every time - StumbleUpon I admit it. When I first heard there are actual tournaments for Rock-paper-scissors, sanctioned by the World Rock Paper Scissors Society, I laughed. I mean seriously, $50k to the winner of a game that requires no skill whatsoever? Absurd. Boy was I wrong. Rock-paper-scissors isn't just a silly game kids play or a way to decide who has to be the designated driver at parties. Males have a tendency to throw rock on their first try, inexperienced RPS players will subconsciously deliver the item that won previously, and paper is thrown least often, so use it as a surprise. Grand Central | Accredited Investor Markets Investors are inundated every day by purveyors of specific investment opportunities and would-be advisors who want to tell them where to invest their money. The result? At best, information overload that is not always correct. At worst, people with biases, whether intentional or not, competing to push their agenda on the investor. This problem is more severe for the accredited investor. The mission of AIMkts is to be the most trustworthy resource on the Internet for accredited investors who seek accurate and objective information about accredited investing. The Editorial Staff of AIMkts built this “Grand Central” resources page with the keen understanding that the typical accredited investor is busy person. To submit your website for potential inclusion in AIMkts’s Grand Central, send an email to

Funding Invention Vs. Managing Innovation Physics 20b: Introduction to Cosmology - Spring 2010 - Download free content from UC Irvine on iTunes - StumbleUpon What’s A Startup? First Principles. Success consists of going from failure to failure without loss of enthusiasm. Winston Churchill Everyone knows what a startup is for – don’t they? In this post we’re going to offer a new definition of why startups exist: a startup is an organization formed to search for a repeatable and scalable business model. A Business ModelOk, but what is a business model? A business model describes how your company creates, delivers and captures value. Or in English: A business model describes how your company makes money. Think of a business model as a drawing that shows all the flows between the different parts of your company. While this is a mouthful, it’s a lot easier to draw. Drawing A Business ModelLots of people have been working on how to diagram and draw a business. Alexander Osterwalder's Business Model Template (At Stanford, Ann Miura-Ko and I have been working on a simplified Silicon Valley version of this model. But What Does a Business Model Have to Do With My Startup? Stay tuned.

Breaking Human Resource News: PREVISOR ACQUIRES BRAINBENCH Acqui Atlanta, GA (May 31, 2006) – PreVisor, a leader in workforce selection and performance, today announced that it has acquired Brainbench, Inc., an innovator in employment testing and skills certification. The acquisition strengthens PreVisor’s position as the leading online provider of job-specific, pre-employment assessments by adding Brainbench's world-renowned IT skills testing content to its library, expanding its market penetration, and increasing its strong foothold in the government sector with accounts such as the Department of Homeland Security and U.S. Department of State. The acquisition of Brainbench is the second transaction within the past year for PreVisor, the first being its formation in August 2005 through the combination of Qwiz, ePredix, and PDRI. "We are very pleased to become part of the PreVisor family of companies,” says Mike Russiello, president, CEO and co-founder of Brainbench, based in Chantilly, Virginia.

Latin Mottos, Latin Phrases, Latin Quotes and Latin Sayings A bene placito - At one's pleasureA capite ad calcem - From head to heelA cappella - In church [style] - i.e. Vocal music onlyA contrario - From a contrary positionA cruce salus - From the cross comes salvationA Deo et Rege - From God and the KingA fortiori - With yet stronger reasonA fronte praecipitium a tergo lupi - A precipice in front, wolves behind (between a rock and a hard place)A mari usque ad mare - From sea to sea (Motto of Canada)A mensa et thoro - From board and bed (legal separation)A pedibus usque ad caput - From feet to headA posse ad esse - From possibility to actualityA posteriori - From what comes after.