A million millions is…Trillions

The future is here, almost, and it looks nothing like the present and the past. Or so is the vision / prediction of Mickey McManus (CEO of MAYA Design, http://MAYA.com). Earlier this week to promote his new book, Mr. McManus spoke on the Princeton University campus as part of the Keller Center’s ongoing Events & Lectures series (http://commons.princeton.edu/kellercenter/2012/10/mickey-mcmanus-trillions.html). He, along with Peter Lucas and Joe Ballay (also from MAYA Design), are the authors of “Trillions—Thriving in the Emerging Information Ecology”.

Yes of course, I bought the book (as well as had it signed). If you’re interested you can follow my chapter by chapter “key takeaways” here:
http://chiefalchemist.com/source/trillions-maya-design-lucas-ballay-mcmanus

This was not your typical mid-week late afternoon session sprinkled with takeaways of hard and fast (business) rules. Instead the focus was on ideas and concepts that were abstract and thought provoking, if not mind-expanding. I mention this now so you have the proper context for my notes below. Please adjust your expectations accordingly. Also, perhaps consider buying the book to fill in any blanks you might suddenly spawn.

  • Seconds, the measurement of time. 1 million seconds is ~1.5 weeks ago and 1 billion seconds goes back to the mid-70s. But 1 trillion seconds is 30,000 BC!
  • There are 50 to 100 trillions cells in the human body.
  • Malignant complexity
  • Five cloud services currently store most of humanity’s information.
  • Cascading failures
  • The mountain we’re on is nothing compared to the one that’s coming.
  • Nature is the ideal model (for managing complexity).
  • Beautiful complexity
  • Generativity (Ref: Wikipedia)
  • Conway’s Game of Life (Ref: Wikipedia)
  • Generativity + Human Centered Design + Parametic Model
  • Bill Joy (Sun Microsystems): “There are always more smart people working for someone else than working for you.”
  • There’s a bubble coming…
  • Luck is not a plan.
  • Become a student of what’s coming.
  • Count the cards. Learn the tricks. Learn the patterns.
  • A crisis of creativity (i.e., not enough of it).
  • We must pivot from making things right to making the right things.
  • Dream bigger.
  • Brands will become transparent whether they want to or not.
  • Patagonia (company) is a model for the future.
  • There are electrical codes. There are plumbing codes. There are no codes for computing and technology.

Wow. Right?

“Figuring it out is the fulcrum,” said the man with the billion dollar smile

Luck favors the prepared, as well as those who keep their eyes and ears open for “opportunities”. (Colleagues who do the same is a big help too.) The truth be told I consider myself quite fortunate to have made time for Steve Papa’s appearance at Princeton University late yesterday afternoon. Aside from being a graduate of Princeton (1994), Papa was also one of the founders of Endeca Technologies. Less than a year ago Endeca was acquired by Oracle for around $1.1 billion.

Here are some of the highlights from my notes:

  • Rule #1 – Ignore the experts. When you’re doing something new there are people who just won’t get it.
  • Learn to succeed despite the odds. Have faith, it’s part of the process.
  • When financial times are tight, sell a painkiller (i.e., a product that increases revenue).
  • Recession, reinvention & re-organization.
  • Main lesson: Ideas <–> Figuring it out <–> Execution. There’s more to it than just ideas and execution. The fulcrum (that few talk about) is figuring it out.
  • “Survivorship bias”—Don’t let early customers over-influence your product / direction. The customer is always right, but not every customer is the right customer at the right time for your company.
  • Being entrepreneurial is the relentless pursuit of credibility.
  • Fact: Entrepreneurs don’t create risk, they mitigate it.
  • Be aware of macroeconomics
  • “It’s always a good time to innovate but there’s not always time for every innovation.”
  • You will hire people who will not do what is good and best for your company. This is particularly true of sales people.
  • With regards to hiring:
    – Repeaters vs creators
    – Doers vs leaders
    – Intellectually curious vs focused
    – Experience vs potential
    – Credibility vs talent, or both?
  • Where the company / product is in the development cycle will drive the specifics of your hiring needs.
  • Key to sales: Timing, territory & talent in that order. [Note: He made it a point to highlight that timing and territory come before talent.]

The two best gems came towards the end of the presentation:

  • Luck plays a bigger role than most will admit. But luck favors the prepared.
  • “I figured out the right approach by process of elimination.”

Needless to say, Steve knows his was around the playing field. Yet much like Jack Dorsey, there was a quiet confidence in Papa’s persona. No chest thumpin’ or other Thump-isms, just simple honest ideas, opinions and facts. Strictly business—humble, human and with a smile.

Some thoughts from Jack Dorsey (The Princeton Entrepreneurship Club, Sept 2012)

Yes, the Mr. Jack Dorsey—inventor of Twitter and founder of Square (the payment platform)—was on the Princeton University campus yesterday for a presentation + Q&A session sponsored by The Princeton Entrepreneurship Club. In front of a full-house in McCosh 10, a casual but poised and polished Dorsey put his mega-success on pause to share some business wisdom with what was primarily tech-aware university students. Fortunately for my colleagues and I, many of the The Princeton Entrepreneurship Club events are open to the public. Apparently, the club doesn’t subscribe to the infamous stealth-mode philosophy.

Here are most of the highlights from my notes:

  • William Gibson: “The future has already arrived. It’s just not evenly distributed yet.”
  • Constantly! Reset. Rethink. Reorganize.
  • Try to structure your company in such a way that it allows for multiple founding moments.
  • Square’s motto: An idea that can change the course of the company can comes from anywhere.
  • New energy + new people = new ideas
  • Disruption is an undesirable approach. The ultimate objective is revolution.
  • “We need more confidence.”
  • “Square enables people to do what they love.”
  • A beautiful company will lead to a beautiful product (but not necessarily the other way around).
  • Recommended book: “The Score Takes Care of Itself: My Philosophy of Leadership” by Bill Walsh.
  • In speaking about the Golden Gate Bridge, “Small groups of people can do epic things.”
  • Also about the GGB, Dorsey said it was an example of a brilliant combination of engineering, design and utility. He discussed the fact that most people who use the bridge probably don’t consider how magnificent it really is. He added that great things can (and sometimes should) be forgettable.
  • The DNA of the company is essential.
  • Come to meetings prepared.
  • Square has sit-down and stand-up tables. Dorsey drew laughs by adding that the meetings that use the stand-up tables tend to be shorter.
  • Naming the company is important. It sets the tone for everything. Square was finite and fitting, yet at the same time extendable.

Jack Dorsey was refreshing, humble and ego-less. It was often hard to believe that one of the 21st century’s business/technology heavy-weights could be so understated. There was no you’re so lucky I’m here. No, I have all the answers kids so listen to me. It was simply one very successful (young) man’s view of the world, and a sincere willingness to share it.

One of the key takeaways for me was what he didn’t say. He rarely used the word innovation (and dismissed the use of the start-up anthem of disruption). Aside from that, his next most important message was the emphasis on people. Finding the right people to work for his company so those people can develop beautiful products for people in the market who will be excited about its availability. The key was not technology but people. Surprise! Very old school, yes? None the less, Dorsey’s ideas shimmered with pure brilliance. Everything old could be new once again.

Innovation as an Ends is Highly Overrated

A couple weeks ago I attended TigerLaunch Startup Challenge 2012 at Princeton University, as hosted by The Princeton Entrepreneurship Club. The keynote speaker was Bill Taylor (Princeton ’81) the co-founder of the iconic Fast Company Magazine. Bill was also one of the judges in the competition. Thought the magic of YouTube, The Princeton Entrepreneurship Club has shared Bill’s keynote.

Bill Taylor keynote at TigerLaunch 2012 (Princeton University) Fast Company

Bill Taylor Keynote: TigerLaunch 2012 (Part 2/3)
Bill Taylor Keynote: TigerLaunch 2012 (Part 3/3)

Based on my now cryptic notes here are the highlights I gleaned from Bill Taylor’s keynote address at TigerLaunch 2012.

  • Be passionate. When someone say no just drive harder.
  • Luck and timing helps.
  • Business plans are written to reflect singles and doubles. The reality is there are strikeouts and home runs.
  • The business plan is a good exercise but it never goes as planned.
  • Be naive, be an outsider, it’s an advantage. Fresh eyes can be as important as experience and expertise.
  • Hire for attitude. Train for skill.
  • Customers!
  • Entrepreneurs must learn to manage emotions and emotional connections.
  • Be memorable.
  • Being smart isn’t enough.
  • Eat your own dog food.
  • “The only thing worse than failing is success.”
  • “Architecture of participation”
  • When crowdsourcing be exact about what you want. Ask for participation everywhere you go.

Good stuff, yes? But wait there’s more…

In total there were eight presentations—Bill Taylor plus seven start-ups. The start-ups were: Collections, Waiter d’, QualTraxx, nat|Aural, DUMA, Pasand and BeneTag. Obviously, there was a lot of creative entrepreneurial energy in the room. However, there was one thing that was (pleasantly) absent. That was the use of the word innovation. There was plenty of talk about customers, business models, technology, growth, etc. but no one seemed to be over-focused on innovation for innovation’s sake. Realistic and refreshing.

Conclusion? Innovation as an ends is highly overrated—as it should be.