You’re always paying attention to something. If you want to live a more satisfying life, deliberately choose what that is. I dislike broad generalizations, but I think it’s safe toRead More
Three Drivers of Value
The social purpose of an organization is to create value by reallocating resources to a higher valued use. There are essentially three ways to accomplish this: 1) reallocate existing resourcesRead More
On the Creator Economy
One of the most interesting developments of the past two decades has been the rise of the creator economy. But one has to question to what extent content creation translatesRead More
Feed the Rich
A common misconception is that the wealthy are necessarily guilty of hoarding resources that could be better utilized. But this fundamentally misunderstands both the source of and the meaning ofRead More
How Much for That Banana?
At the 2019 Art Basel in Miami, the artist Maurizio Cattelan produced and sold a piece of art aptly titled Comedian for $120,000. The piece, pictured below, was an actualRead More
AI’s Unexpected Threat: The Diminishing Value of Entry-Level Jobs and Higher Education
A potential unanticipated consequence of AI is a hollowing out of the workforce as entry-level white-collar jobs are eliminated, and as the perceived value of higher education diminishes. The effectivenessRead More
The (Equal) Importance of Convergent and Divergent Thinking
Imagine a world where there is no market friction or distortions. All resources have been allocated to their highest valued use. If for example, lumber has higher (market) value inRead More
Allocating Your Time
The underlying principle behind value creation is that a successful business identifies activities that generate more value than the opportunity cost of the resources employed. This concept applies equally wellRead More
How Does Brand Create Value
In the train scene from the James Bond movie Casino Royale, Vesper comments on Bond’s watch and asks “Rolex?” To which Bond responds “No, Omega”. What is the point ofRead More
A Superior Product is Not Always a Superior Solution
As marketers, it is easy to become infatuated with a “clearly” better, more elegant market solution. But a human tendency is to project our values onto others. This can beRead More