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For me, this was confirmation that humans do indeed have room to push the current world record further down.
The yawning difference between Asians and whites mostly disappears after accounting for geography. But it's still quite large versus other segments (blacks, hispanics).
Based on the headline, I was expecting to see income convergence among the four groups. Not the case at all.
In our future, you'll have your own personal space on a self-driving car. Room for proper placement of your laptop + keyboard. Ability to loudly participate in conference calls. Dual screens.
And this opens up home ownership possibilities. Bay Area home prices are going through the roof. If companies want to hire people, they need to account for housing prices. Well, why not hire people who live 2 hours away? For example, the job may be in San Francisco (median home price $1.063 million), but the employee lives in Roseville (media home price $372,200).
The work day starts with the 8 am commute. Our employee lets the vehicle drive and starts working. Emails, documents, conference calls, etc. He then shows up in the office at 10 am. Gets that key face time and benefits from those serendipitous moments that only occur in person. Exits the office at 4:30 pm to return home, working on the commute. Has dinner with the kids and helps them with the homework.
One can see real possibilities for positive change once we have autonomous vehicles.
I used to try the "stay awake until night" method once I was in Germany. It wasn't very effective, I didn't adjust for several days. I then tried something different.
As soon as I get to my hotel (around lunchtime), I take a nap of 3 hours or so. I don't let myself sleep beyond that. I then get up and do some activities. I have dinner at the regular local time and then go to sleep at the usual time in the evening.
I've found that I rapidly adjust to the local time and have very little jet lag thereafter. It's that initial nap upon arrival that makes the difference.
Considering this was 1890, and that she was experiencing all these prejudices, a remarkable prediction on her part. We're still a ways away, but in 2010, 15% of new marriages in the U.S. were interracial. [1]
[1] http://mic.com/articles/87359/national-geographic-determined...
At the same time, space travel technology will also have been advanced, allowing for self-sustaining spacecraft that offer protection against the harsh environment of outer space.
At that point, you can imagine that a hearty band of explorers will undertake a mission of leaving our solar system and exploring way beyond our world. Who knows how far they could get.
These are the sorts of advances I can imagine becoming real many generations from now. I wouldn't underestimate our capacity to make it happen.
"Jobs-to-be-done" (JTBD) is useful analytical tool here. A "job" is a thing that someone is trying to accomplish. Harvard's Theodore Levitt expressed it well in this quote:
"People don't want to buy a 1/4 inch drill. They want a 1/4 inch hole."
It reframes the discussion away from features to customer objectives.
As you look at your platform, think about different market niches and the things they're trying to get done. Here are three tests to apply as you consider a given niche.
1. Is it an actual JTBD for a large enough target niche?
This is the most basic test. Do people actually have the need that your product/service addresses? Not only that, but can you characterize the the number of potential customers with the JTBD?
2. Does your product/service/idea meaningfully improve on the incumbent solution(s)?
This is a tougher test. How does your idea outperform the current way customers address the JTBD? You need to have a clear view on this. And the improvement needs to be significant, not just a little. Customers will overvalue their incumbent solution's benefits, and undervalue the new product's benefits.
3. Is the total incremental cost to the customer of your idea less than the total incremental value to the customer?
This test is the toughest. You need to consider monetary costs of course. But there can be many other switching costs as well. Loss of existing data, new time required to learn, new formats that have upstream and downstream impacts.
My take is that successful products can get to clear yes's on these three tests. But it takes some work, experimenting and seeing where your idea falls short if it's not getting yes's on the three tests.
https://www.linkedin.com/pub/andrew-hunzekerhesed/1a/361/320
I'm curious what the key differences are that drive a $2.8 billion valuation relative to the lower valuations of those two companies.
1/3 chance prize is behind a given door. Pick a door, you've got a 1/3 chance it's behind it.
But there's a 2/3 chance it's behind one of the other doors.
So you've got two sets of outcomes at this point. Set A has 1/3 probability (the door you chose). Set B has a 2/3 probability (the two doors you didn't choose).
You then get this incredibly valuable information. The door in Set B that doesn't have the prize. So now Set B still has a 2/3 probability of having the prize. But you know that higher probability now applies to only the one door in Set B.
So you end up with: Set A door = 1/3 chance | Set B door = 2/3 chance
Make the switch every time.
http://www.spaceanswers.com/space-exploration/heroes-of-spac...
http://en.wikipedia.org/wiki/Space_Shuttle_Challenger_disast...
I'm always amused at people's attitudes about San Francisco, and San Franciscans. Keep 'em coming.
When customers want a product roadmap, do this instead
Viral math
Decision flow for B2B customer feature requests
10 examples of fabulously flawed product-first thinking
What do you mean customers don't know what they want?
A Method for Applying Jobs-to-Be-Done to Product and Service Design
"Entrepreneurs take note: The going rate for a 'yes' to your ideas is roughly ten 'no's. - @neilpatel"
https://twitter.com/johnsonwhitney/status/268411928408363009
Challenge then is that their customers/users may not be the same early adopter types. A work-in-progress app may reflect poorly on your customer.
MVP has a lowest common denominator aspect in this case. As in, what would be acceptable to your customer's customers/users? Seems to raise the bar on what is needed for a minimum viable product.