A trillion hours is a lot of hours, eh?

In the end, Steve’s article inspired the letter below. The stellar news is, the editors of EContent printed it in the July/August 2010 issue. It’s always nice to see the AU State of Mind get more love. Enjoy!

Hello Steve

I just wanted to take a moment and mention that I thought your article was very well done. However, there are two things that I would like to mention:

1) I was surprised you did not make mention of iTunes. About the only thing more ubiquitous than music is air. That said, the general belief is the content (i.e., music) is the loss leader and ol’ Steve J. & Co make their money on the hardware. Maybe “value add” is the model to follow? That is, content providers don’t just publish, but consult, host seminars, etc.

2) Early on you wrote, ” Traditional media made their ad models work because they controlled both the supply and distribution of content around a limited set of brands.” I’m not so sure this is as accurate as it could be. The advantage traditional media once held was for the most part based on production and distribution. Supply had little to do with their advantage. It was the barriers to entry (read: cost) that sustained that biz model. The People have always been willing to self-express and self-publish. It wasn’t until the early 90’s with desktop publishing software and relatively
lost cost copies from Kinko’s did that really become feasible and “mainstream” (in an underground, not quite mass market ‘zine sorta way). Today, even outside of the internet, digital printing is getting
more and more reasonable. And then there’s something like MagCloud that uses the advantages of the internet to let people self publish on demand. In short, the content has always been there.

One step further, I would argue that this is somewhat the problem with traditional media. They are under the belief they were in the content biz. They were not. The reality is, they were in the production
and distribution biz with much of their “content” coming from wire services or just regurgitating the details of events. Today, I would bet for most ball games I can get play by play via Twitter. So why watch the 11 o’clock news? Let alone read the morning paper? Those mediums are slow and costly.

Again, for the most part they have not been “creating” content, just moving it around.

Thanks again for the article.

Mark Simchock
Chief Alchemist
Alchemy United

“HBR IdeaCast: Positive Deviance and Unlikely Innovators” — Interview of Richard Pascale (associate fellow of Said Business School at Oxford University) coauthor of “The Power of Positive Deviance”.

“What Copycats Know About Innovation” — Interview of Oded Shenkar, professor at Ohio State University’s Fisher College of Business and author of “Copycats: How Smart Companies Use Imitation to Gain a Strategic Edge”.

Also be sure to check out the sidebar bit, “From Credit Card to PayPal: 3 Ways to Move Money”, as well as, “The New Ways to Pay” (scroll down to the bottom of the page).

For the most part Mr. Gates’ perspective is global. He does however mention during the inteview that s in the United States the two biggest issue his foundation is  addressing are helping teachers and online learning. Contrast this with the fact that Uncle Sam’s approach has lead to a system where only 60% of the students who start high school actually graduate.  The irony comes when one considers how many massive corporations jump through tax loopholes to avoid paying into the system and then those same outfits also expect to have a well educated work force available so they can be even more profitable.

Is the system just dented and bent, or broken and in need of a complete makeover?

In the event you don’t make it to the last page, Bill says:

I have decided to take the notes I make after taking a trip, reading a book, or meeting with someone interesting and pull them together on a web site called www.gatesnotes.com. This will let me share thoughts on foundation-related topics and other areas on a regular basis. I expect to write about tuberculosis, U.S. state budgets, creative capitalism, and philanthropy in Asia, among other things.

What is interesting is that many of The Gates’ concerns are resource and/or “head count” driven. Yet, there is little mention of population and population control as a means to helping solve some of these problems. We’d all agree that technolgy can be a wonderful tool, but let’s not forget about (changing) good ol’ fashion human behavior as a means to a better ends.

Have you tried it? And … ?

“Accept Defeat: The Neuroscience of Screwing Up” by Jonah Lehrer

“Stay in the Game: The Fall and Rise of Alec Baldwin” by Scott Brown

“Learn to Let Go: How Success Killed Duke Nukem” by Clive Thompson

“Time Your Attack: Oracle’s Lost Revolution” by Daniel Roth

“My Greatest Mistake: Learn From Six Luminaries” by Wired Magazine

“Accidental Art: Three Alternate Histories” by Christoph Niemann

For those who like to look up at the stars then “Six Luminaries” is the obvious first read. Other than that, just dive in. Don’t be afraid to pick the wrong one. And for those of you who like to believe that the key to success is perfection. Well, you’re making a big mistake.

“Being customer-driven doesn’t mean asking customers what they want and then giving it to them,” says Ranjay Gulati, a professor at the Harvard Business School. “It’s about building a deep awareness of how the customer uses your product [or service].”

It’s not just about interaction and listening. It’s deeper than that. It’s about awareness and understanding. Taken a step further, it’s not about wants. It’s about meeting needs. Wants are easy. We’re all quick to recite our wants. Needs however are much more profound.

Later Ranjay is said to say:

“It’s an execution problem.” Companies, he says, “aren’t generally structured to access, absorb or utilize customer insights since they are organized by product, not by customer.”

Interesting enough, does this not sound quite similar to the ideals mentioned on our Success Realized page (as well as elsewhere within the AU framework)?

A more current example is Google describing Wave as, “If email were invented today”. If you’ve used Wave you’ve probably realized that tag line is an over simplification. On the other hand, it is a bite small enough to consume without fear or confusion. Doubt, confusion, lack of comfort, etc. will kill a sale every time.

The key is to not be self-absorbed (as so many entrepreneurs are) and not to assume that everyone “gets” your product/service like you do. You have to step back and have some empathy. Success without empathy is rare. Think big but make sure when you have to communicate your ideas to others your genius is small enough for them to grasp. You don’t have to dummy it down, just keep the bites chewable.