Oliver Thylmann's Stuff |
Longer than Twitter and shorter than a Blog post :) |
I said, 'By the end of the week, everybody needs to write what you're C.E.O. of, and it needs to be something really meaningful'," says Pincus. "And that way, everyone knows who's C.E.O. of what and they know whom to ask instead of me. And it was really effective. People liked it. And there was nowhere to hide.
This is from the an article/interview from Geoff Colvin with Mohamed El-Erian (Pimco CEO) from Fortune (21st of December 2009). I think it is the best explanation of the financial crisis I have ever read.
Geoff Colvin asked "What really happened back then?" and Mohamed El-Erian answers:
You go to a McDonald's. You order, you go to one window, you pay; you go to the next window, you pick up your food, and you go. You normally can do it within 30 seconds. Now imagine the following. There's a payment window where you pay, and there's a settlement window where you take the burgers. Now imagine that you go to the first window, and they tell you, $5. You say, "Where's my food?" And they say, "It's at the next window." You say, "I heard what happened at Lehman yesterday. At Lehman someone paid but didn't collect. So I want my food now." And they say, "I can't give you your food now." The whole system is built on trust—that you're going to trust for 10 yards. And you say, "Well, that's what Lehman did. I'm not going to do that." Now what happened to that system? First, you go away hungry even though you had money. And the second window has the food but can't sell it, so the food goes rotten. The system breaks down because no one trusts 10 yards between the first window and the second window. That is what happened after Lehman. It was the most amazing thing, where nobody trusted what we all take absolutely for granted, and therefore you couldn't match people up. That's why we saw these amazing collapses around the world.
If a restaurant served more food than everybody else but lost money on every diner, would it be successful? No. But on the Internet, for some reason, if you have more users than everyone else, you’re successful. No, you’re not.
Last night, world-famous magician and endurance artist David Blaine taught me — along with about 10 other TEDMED attendees — how to hold my breath.
How to Hold Your Breath Like David Blaine, World Record Holder (and Now, Me) - Check the video included in this post from David’s 17 minute world record.
http://feedproxy.google.com/~r/InfectiousGreed/~3/L5uTugqLW3w/regulation_didn...
Shared by oliverGood comment from John Kay in the FT: Their activities underwritten by implicit and…
greedy and inept bank executives who failed to control activities they did not understand
The VC business is not about grabbing the largest slice of the pie. It is about getting involved with very big pies. If you let your need for the biggest piece keep you out of the pie eating contest, you will lose eventually.
The ‘We Need To Own’ Baloney Again and Again I like what Fred Wilson is saying.
She said she eventually concluded the Hebrew verb “bara”, which is used in the first sentence of the book of Genesis, does not mean “to create” but to “spatially separate”.
The first sentence should now read “in the beginning God separated the Heaven and the Earth
God is not the Creator, claims academic - Telegraph - It’s probably not all the simple but fun to know they will crush their heads in now ;)
Father, Entrepreneur, Developer Whisperer, Geek, Blogger since 2001, Founder of Adcloud and Ormigo, Performance Advertising
