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How to Make Wealth - Paul Graham How to Make Wealth - Paul Graham
May 2004 (This essay was originally published in Hackers & Painters.) If you wanted to get rich, how would you do it? I think your best bet would be to start or join a startup.

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What seemed like a minor change take a book and shrink it was in retrospect a key innovation in the democratization of the printed word. What eisenstein focused on, though, was how many historians ignored the transition from one era to the other. But it is a good idea to understand whats happening when you do this.

Insteadof working at a low intensity for forty years, you work ashard as you possibly can for four. Doch wer bringt diesen zustand, der heute emblematisch für die meisten medienindustrien und -unternehmen ist, treffender auf den punkt als clay shirky in the future of journalism section was clay shirkys newspapers and thinking the unthinkable leave it to mobius to douse their panic with a little gasoline and a match, when he popped this article thinking the unthinkable by clay shirky out to the conference call participants afterwards. Theyll make sure that suing them is expensive andtakes a long time.

The competition-deflecting effects of printing cost got destroyed by the internet, where everyone pays for the infrastructure, and then everyone gets to use it. If you plan to get rich by creating wealth, you have to know what people want. It would still havemeant a lot of money for them, and ibmcould easily have gotten an operating system elsewhere.

The company that did was rca, andfarnsworths reward for his efforts was a decade ofpatent litigation. Florence in 1200 as it is in santa clara today. But the company as awhole must be giving people something they want, or they wont makeany money.

If you cant measure the value of the work done by individual employees, you can get close. Its doing something peoplewant that matters, not joining the group. Ceo of a company that tanks cannot plead that he put in a solid effort.

Technology thats valuable today could be worthlessin a couple years. In all this conversation, there was one scenario that was widely regarded as unthinkable, a scenario that didnt get much discussion in the nations newsrooms, for the obvious reason. Until you have some users tomeasure, youre optimizing based on guesses. The advantage of creating wealth, as a way to get rich,is not just that its more legitimate (many of the other methods are now illegal) but that its more if you want to create wealth, it will help to understand what it is. Many employees would work harderif they could get paid for it.


» Newspapers and Thinking the Unthinkable Clay Shirky


Back in 1993, the Knight-Ridder newspaper chain began investigating piracy of Dave Barry’s popular column, which was published by the Miami Herald and syndicated widely.

Good Place Buy Essay 1200

What You Can't Say - Paul Graham
January 2004 Have you ever seen an old photo of yourself and been embarrassed at the way you looked? Did we actually dress like that? We did. And we had no idea how silly we looked.
Good Place Buy Essay 1200 If you want to go faster, its a problem to have your worktangled together with a large number of other peoples. A more direct way to put it would be you need tostart doing something people want. Starting or joining a startup is thus as close as mostpeople can get to saying to ones boss, i want to work ten timesas hard, so please pay me ten times as much. A good hint to thepresence of leverage is the possibility of failure. But a very able person who does care about moneywill ordinarily do better to go off and work with a smallgroup of peers. Remember what a startup is, economically a way of saying, i want to work faster. In ordinary times, people who do no more than describe the world around them are seen as pragmatists, while those who imagine fabulous alternative futures are viewed as radicals, Now is the time for march 2009 clay shirky wrote an excellent essay about the nature of changes happening to society, newspapers and journalism (newspapers and mispeled blog archive adding to the conversation clay shirky on newspapers while doing some random surfing this afternoon (i think i started on slashdot with a story from the endeavour, and from there, clay shirky though its hard to retrace steps when moving around like that.
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    Instead of accumulatingmoney slowly by being paid a regular wage for fifty years, i want to get it over with as soon as possible. Startups offer anyone a way to be in a situation withmeasurement and leverage. For potentialacquirers, the most powerful motivator is the prospect that one of their competitors will buy you. Round and round this goes, with the people committed to saving newspapers demanding to know if the old model is broken, what will work in its place? To which the answer is nothing. If you cant measure the value of the work done by individual employees, you can get close.

    Remember what a startup is, economically a way of saying, i want to work faster. Technology thats valuable today could be worthlessin a couple years. Alternatively, they could pursue the profit margins enjoyed by radio and tv, if they became purely ad-supported. It makes increasingly less sense even to talk about a publishing industry, because the core problem publishing solves the incredible difficulty, complexity, and expense of making something available to the public has stopped being a problem. Its a much better deal for them to average their work together with a small group of their peers than to average it with everyone.

    Like all back-of-the-envelope calculations, this onehas a lot of wiggle room. If you took ten people at random out of the big galley andput them in a boat by themselves, they could probably go faster. If 3 million a year seemshigh, remember that were talking about the limit casethe case where you not only have zero leisure timebut indeed work so hard that you endanger your health. There are plenty of other ways to get money, including chance, speculation, marriage, inheritance, theft, extortion, fraud, monopoly,graft, lobbying,counterfeiting, and prospecting. To describe the world before or after the spread of print was childs play those dates were safely distanced from upheaval. From that point, all microsoft had to do was execute. Lots of people get rich knowing nothing more than that. These tworegions were the richest of their time and became the twincenters from which renaissance civilization radiated. Companies can be so specialized that thissimilarity is concealed, but it is not only manufacturing companies that create wealth. Was it that europeans are somehow racially superior?was it their religion? The answer (or at leastthe proximate cause) may be that theeuropeans rode on the crest of a powerful new idea allowing those whomade a lot of money to keep it.

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    I think its a good idea to get bought, if you can. It would have been a bargain to buy us at an early stage, but companies doing acquisitions are notlooking for bargains. A bear can absorb a hit and a crabis armored against one, but a mosquito is designed for one thingto score. The engineers build a reliable gadget with all kinds of new featuresthe industrial designers design a beautiful case for it and thenthe marketing people convince everyone thatits something theyve got to have. All theyhad to do was play hardball with licensees and copy moreinnovative products reasonably promptly.

    No doubt bill did everything he could to steer ibm into making that blunder, and he has done an excellent job of exploiting it, but ifthere had been one person with a brain on ibms side,microsofts future would have been very different Buy now Good Place Buy Essay 1200

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    Even ferocious litigation would be inadequate to constrain massive, sustained law-breaking. For the next few decades, journalism will be made up of overlapping special cases. We are all richer for knowing about penicillin,because were less likely to die from infections. If you dont know who inventedsomething (the automobile, the television, the computer,the jet engine, the laser), its because other companiesmade all the money. Viaweb one of our rules of thumb was suppose you are a little, nimble guy being chased by a big,fat, bully.

    The curious thing about the various plans hatched in the 90s is that they were, at base, all the same plan heres how were going to preserve the old forms of organization in a world of cheap perfect copies! The details differed, but the core assumption behind all imagined outcomes (save the unthinkable one) was that the organizational form of the newspaper, as a general-purpose vehicle for publishing a variety of news and opinion, was basically sound, and only needed a digital facelift Good Place Buy Essay 1200 Buy now

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    Ceos, stars, fund managers, and athletesall live with the sword hanging over their headsthe moment they start to suck, theyre out. You open a door and find yourself in a staircase. It could be some 19 year old kid few of us have heard of, working on something we wont recognize as vital until a decade hence. The top managers areheld responsible for the performance of the entire company. If you took ten people at random out of the big galley andput them in a boat by themselves, they could probably go faster.

    You can measure the valueof the work done by small groups. Many of these models will rely on sponsorship or grants or endowments instead of revenues. Johnsmith, age 10, a student at such and such elementary school, orjohn smith, age 20, a student at such and such college Buy Good Place Buy Essay 1200 at a discount

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    The company that did was rca, andfarnsworths reward for his efforts was a decade ofpatent litigation. Until you have some users tomeasure, youre optimizing based on guesses. A startup is a smallcompany that takes on a hard technical problem. They just represent a point at the far end of the curve. If ibm hadnt made this mistake, microsoft wouldstill have been a successful company, but itcould not have grown so big so fast.

    As books became cheaper, more portable, and therefore more desirable, they expanded the market for all publishers, heightening the value of literacy still further. In both cases, what it all comes down to is users. The world is-- andyou specifically are-- one pristine old car the richer Buy Online Good Place Buy Essay 1200

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    Developing new technology is a pain in the ass. Whereas if you solve a technical problem that a lot of people care about,you help everyone who uses your solution. You fry eggs or cut hair one customer at a time. In the right kind of business, someone who really devoted himself to work could generate ten oreven a hundred times as much wealth as an averageemployee. This pays especially wellin technology, where you earn a premium for working fast.

    Steve jobs once said that the success or failure of a startupdepends on the first ten employees. You need to be in aposition where your performance can be measured, or there isno way to get paid more by doing more. The ball you need to keep your eye on here is the underlyingprinciple that wealth is what people want Buy Good Place Buy Essay 1200 Online at a discount

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    Its that it tends not to happen at all. And when wal-mart, and the local maytag dealer, and the law firm hiring a secretary, and that kid down the block selling his bike, were all able to use that infrastructure to get out of their old relationship with the publisher, they did. For most ofhuman history it has not even been the most common. For most people the best plan probably is to go to work for some existingcompany. So all other things beingequal, a very able person in a big company is probablygetting a bad deal, because his performance is dragged down bythe overall lower performance of the others.

    Antarctica, where there isnothing to buy, it wouldnt matter how much money you had Good Place Buy Essay 1200 For Sale

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    If you wanted to get rich, how would you do it? I think your bestbet would be to start or join a startup. An example of a job with both measurement and leverage wouldbe lead actor in a movie. She was able to find many descriptions of life in the early 1400s, the era before movable type. Craigslist itself spread to cover hundreds of cities and has become a part of public consciousness about what is now possible. I have worked in the online media business for a while now and i have followed the death of newspapers meme pretty closely.

    And they pretty much all make the same decisionas hard as you possibly can. No one experiment is going to replace what we are now losing with the demise of news on paper, but over time, the collection of new experiments that do work might give us the journalism we need For Sale Good Place Buy Essay 1200

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    Florence in 1200 as it is in santa clara today. If you plan to get rich by creating wealth, you have to know what people want. Soviet union didnt have a computer industry,it remained for them a theorythey didnt have hardware capable of executing the calculationsfast enough to design an actual airplane. The competition-deflecting effects of printing cost got destroyed by the internet, where everyone pays for the infrastructure, and then everyone gets to use it. In the course of tracking down the sources of unlicensed distribution, they found many things, including the copying of his column to alt.

    Instead of accumulatingmoney slowly by being paid a regular wage for fifty years, i want to get it over with as soon as possible Sale Good Place Buy Essay 1200

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