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# infinite-monkeys | ||
Pooling the wisdom of Hacker News | ||
Pooling the wisdom of Hacker News comments into an eBook. |
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pandoc src/title.txt src/*/*.md -f markdown -t epub -s -o output/infinite-monkeys.epub --table-of-contents --toc-depth=1 | ||
pandoc src/title.txt src/*/*.md -f markdown -t html -s -o output/infinite-monkeys.html --table-of-contents --toc-depth=1 | ||
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if hash ebook-convert 2>/dev/null; then | ||
ebook-convert output/infinite-monkeys.epub output/infinite-monkeys.mobi | ||
else | ||
echo "Could not find 'ebook-convert' command, skipping generation of .mobi format" | ||
fi |
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# Introduction | ||
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This book contains some of the most insightful and interesting comments made on the Hacker News website. |
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# How To Become A Millionaire In 3 Years | ||
## jasonlbaptiste | ||
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I'm going to go and replace 3 years with a "short time frame". Some things to focus on: | ||
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- Market opportunity- a million dollars isn't a lot in the grand scheme of things, but it certainly is a lot if the market opportunity is not large enough. Even if you put Bill Gates and Steve Jobs as founders in a new venture with a total market size of 10 million, there is no way they could become too wealthy without completely changing the business (ie- failing). | ||
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- Inequality of information- find a place where you know something that many undervalue. Having this inequality of information can give you, your first piece of leverage. | ||
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- Leverage skills you know- You can go into new fields such as say Finance, but make sure you're leveraging something you already know such as technology and/or product. Someone wanted to start a documentary with me. I said that would be fun, but it would be my first documentary regardless of what happened. There was a glass ceiling due to that. If I do something leveraging a skill I know, I'm already ahead of the game. | ||
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- Look in obscure places- We're often fascinated with the shiny things in the internet industry. Many overlook the obscure and unsexy. Don't make that mistake. If your goal has primarily monetary motivations, look at the unsexy. | ||
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- Surround yourself with smart people- smart people whom are successful usually got there by doing the same and have an innate desire to help those do the same. it's the ecosystem that's currently happening with the paypal mafia and can be traced all the way back to fairchild semiconductor. | ||
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- Charge for something- Building a consumer property dependent upon advertising has easily made many millionaires, but it isn't the surest path. It takes a lot of time and scale, which due to cashflow issues will require large outside investment probably before you are a millionaire. Build something that you can charge for. | ||
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- Your metric shouldn't be dollars- If you're going after a big enough market and charging a reasonable amount, you can hit a million dollars. Focus on growth, customer acquisition costs, lifetime value of the customer, and churn. | ||
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- Get as many distribution channels as possible- There is some weird sense that if you build something they will just come. That a few like buttons and emails to [email protected] will make your traffic explode + grow consistently. It fucking won't. Get as many distribution channels as possible. Each one by itself may not be large, but if you have many it starts to add up. It also diversifies your risk. If you're a 100% SEO play, you're playing a dangerous dangerous game. You're fully dependent upon someone else's rules. If Google bans you, you will be done. Replace SEO with: App store, facebook, etc. | ||
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- Go with your gut and do not care about fameballing- Go with what your gut says, regardless of how it might look to the rest of the world. Too often we (I) get lost in caring about what people think. It usually leads to a wrong decision. Don't worry about becoming internet famous or appearing on teh maj0r blogz. Fame is fleeting in the traditional sense. Become famous with your customers. They're the ones that truly matter. What they think matters and they will ultimately put their money where their mouth is. | ||
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- Be an unrelenting machine- Brick walls are there to show you how bad you want something. Commit to your goals and do not waver from them a one bit regardless of what else is there. I took this approach to losing weight and fitness. I have not missed a single 5k run in over a year. It did not matter if I had not slept for two days, traveling across the country, or whatever else. If your goals is to become a millionaire, you need to be an unrelenting machine that does not let emotions make you give up / stop. You either get it done with 100% commitment or you don't. Be a machine. | ||
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- If it's a "trend", it's too late- This means the barriers to entry are usually too high at this point to have the greatest possible chance of success. Sure you could still make a lot of money in something like the app store or the facebook platform, but the chances are significantly less than they were in the summer of 08 or spring of 2007. You can always revisit past trends though. | ||
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- If you do focus on a dollar amount, focus on the first $10,000- This usually means you've found some repeatable process / minimal traction. ie- if you're selling a $100 product, you've already encountered 100 people who have paid you. From here you can scale up. It's also a lot easier to take in when you're looking at numbers. Making 1 million seems hard, but making $10,000 doesn't seem so hard, right? | ||
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- Be a master of information- Many think it might be wasteful that I spent so much time on newsyc or read so many tech information sites. It's not, it's what gives me an edge. I feel engulfed. | ||
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- Get out and be social- Even if you're an introvert, being around people will give you energy. I'm at my worst when I'm isolated from people and at my best when I've at least spent some time with close friends (usually who I don't know from business.) | ||
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- Make waves, don't ride them- There was a famous talk Jawed Karim gave from youtube. He described the three factors that made youtube take off. I think they included (1- emergence of flash, so no codecs required 2- one click upload 3- ability to share embed). Find those small pieces and put them together to make the wave. That's what youtube did imho. The other guys really just rode the wave they created (which is okay). | ||
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- Say no way more than you say yes- I bet almost every web entrepreneur has encountered this: You demo your product / explain what you're doing and someone suggests that you do "X feature/idea". X is a really good idea and maybe even fits in with what you're doing, but it would take you SO FAR off the path you're on. If you implemented X it would take a ton of time and morph what you're doing. It's also really really hard to say no when it comes from someone well respected like a VC or famous entrepreneur. I mean how the fuck could they be wrong? Hell, they might even write me a check if I do what they say!!!!! Don't fall for that trap. Instead write the feedback down somewhere as one single data point to consider amongst others. If that same piece of feedback keeps coming up AND it fits within the guidelines of your vision, then you should consider it more seriously. Weight suggestions from paying customers a bit more, since their vote is weighted by dollars. | ||
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- Be so good they can't ignore you- I first heard this quote from Marc Andreessen, but he stole it from Steve Martin. Just be so good with what you do that you can't be ignored. You can surely get away with a boring product with no soul, but being so good you can't ignore is much more powerful. | ||
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- Always keep your door/inbox open- You never know who is going to walk through your door + contact you. Serendipity is a beautiful thing. At one point Bill Gates was just a random college kid calling an Albuquerque computer company. | ||
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- Give yourself every opportunity you can- I use this as a reason why starting a company in silicon valley when it comes to tech is a good idea. You can succeed anywhere in the world, but you certainly have a better chance in the valley. You should give yourself every opportunity possible, especially as an entrepreneur where every advantage counts. | ||
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- Give yourself credit- This is the thing I do the least of and I'm trying to work on it. What may seem simple+not that revolutionary to anyone ahead of the curve can usually be pure wizardry to the general public, whom is often your customer. Give yourself more credit. | ||
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- Look for the accessory ecosystem- iPod/iPhone/iPad case manufacturers are making a fortune. Armormount is also making a killing by making flat panel wall mounts. Woothemes makes millions of dollars a year (and growing) selling Wordpress themes. There are tons of other areas here, but these are the ones that come to mind first. If there's a huge new product/shift, there's usually money to be made in the accessory ecosystem. | ||
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- Stick with it- Don't give up too fast. Being broke and not making any money sucks + can often make you think nothing will ever work. Don't quit when you're down. If this was easy then everyone would be a millionaire and being a millionaire wouldn't be anything special. Certainly learn from your mistakes + pivot, but don't quit just because it didn't work right away. | ||
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- Make the illiquid, liquid- I realized this after talking to a friend who helps trade illiquid real estate securities. A bank may have hundreds of millions of assets, but they're actually worth substantially less if they cannot be moved. If you can help people make something that is illiquid, liquid they will pay you a great deal of money. Giving you a 20-30% cut is worth it, when the opposite is making no money at all. | ||
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- Productize a service- If you can make what might normally be considered a service into a scaleable, repeatable, and efficient process that makes it seem like a product you can make a good amount of money. In some ways, I feel this is what Michael Dell did with DELL in the early days. Putting together a computer is essentially a service, but he put together a streamlined method of doing things that it really turned it into a product. On a much smaller scale, PSD2XHTML services did this. It's a service, but the end result + what you pay for really feels like a product. |
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# Founder Depression | ||
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## EvanMiller | ||
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Dig deeper, Sam. | ||
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Achievement-oriented people are given to depression both when they fail and when they succeed. If your identity is tied up in your work, then you feel bad about yourself when work isn't going well. That's obvious, and that's the message of this blog post. The implicit message is that you're depressed because you're not succeeding, so get your shit together and succeed and be happy like everyone else. | ||
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But then if you do succeed, you start to wonder, why did I just spend my youth in this masochistic, narcissistic path, and why the fuck am I not as happy as I was expecting, and is this really all there is in life. This is a classic "achiever in crisis." The problem is that you realize all along you've been doing things that OTHER people wanted -- that is, you've been doing things that make you valuable in society -- perfect summed up in the raison d'etre du jour, "making the world a better place." And nobody stopped you, because who can argue with making the world a better place? (Or being a doctor, or whatever.) But upon reflection, you quickly realize that this was in many ways easier than asking yourself what YOU wanted out of life. I.e. you've pushed aside your innate feelings and desires, whatever they may have been, and replaced them with the external motivation of achievement, under the rationale that you'd be able to "figure it out" after you had "made it". | ||
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Unfortunately achievers aren't really sure what they want "deep down" because achievement is inherently defined by society, and then after they've "made it" they freak out because they start to wonder if there even is a "deep down" or if they're just a highly educated donkey chasing a carrot. | ||
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If you talk to e.g. people who've gone through rigorous Ph.D. programs, you'll find a number of them were severely depressed after their defense. It was just kind of a let-down after such a long buildup, and then they started to wonder why they invested the entirety of their twenties into it and question whether that's really what they wanted their life to be. At least before the defense they could have something look forward to, and the various requirements provided a source of manic energy to propel the achiever forward. | ||
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Anyway I don't think the problem here is "not enough success," and I don't think the solution is having more coffee meetings. Founders need to take a hard look in the mirror and ask themselves why they're doing what they're doing and whether their depression is truly a function of their free cash flow or if there's a deeper dissonance between the founder's feelings and the expectations of society, i.e. the heroic mythology of the founder that Silicon Valley has been inculcating in susceptible teenagers for the last 20 years. | ||
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Just my 2c. I am not a founder just an observer and aspiring societal psychiatrist. If you want to learn more I highly recommend the book "The Wisdom of the Enneagram". | ||
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It looks a lot like astrological pseudoscientific trash but read it and see if things in it resonate with you. | ||
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Ok back to work. |
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# What were your naivetés in your twenties? | ||
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## DanielBMarkham | ||
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- Shiny things are nowhere as much fun after you get them as before, even if they have some value. So yes, that Kindle or iPad or whatever will have a real use, and you will be marginally happier with it than without, but not as much as you think | ||
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- You can talk yourself into (or out of) anything. The only difference between smart people and other people is that smart people do this with bigger words and more complex arguments. Be confident, but also assume that you are broken in ways you can never spot. Find some ways to get a checksum on life decisions every now and then. | ||
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- You don't need very much at all. Maybe a laptop computer and a couple changes of clothes. Pictures and videos of your life. That's about it. | ||
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- Nothing will ever replace experiences. No matter how big the car, nice the house, or professional-looking the suit, it's never going to be as much fun or mean as much later as the experiences you have in life. And it's not just having the experience, it's looking forward to them, and planning them, and making pictures, movies, and blogs out of them. The best part, oddly, may be the planning. So planning a 200-dollar trip to the beach in the Fall with people you love may give you many hours of happiness this summer -- along with the fun of the trip itself. | ||
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- Learn to keep picking topics and immersing yourself in them. Most everybody will say to drop out and become part of the system -- 9-5 job and TV/games/internet in the evening. If you want a life you could sleep through, that's fine. But if you want a life you can tell stories about, keep reinventing yourself. And that means constantly learning. | ||
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- Lots of shit in life that once looked dumb or stupid opens up into this huge panorama of beauty once you learn the rules. In so many things you are like the guy who never saw a baseball game going to the world series. You kind of get it, but it all seems silly. You don't know the rules. Decide to learn how to appreciate music, for instance. Get a few college lectures on tape, get some good music to listen to, hang out with folks who are music connoisseurs. The more you know about various art forms, the richer your life is. | ||
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- Forget philosophy and meaning-of-life shit. You're too young. For now, you are what you do. Go do something worthwhile | ||
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- Stick to a daily exercise routine at all costs | ||
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- If you are changing and getting better, that means you are changing friends too. This was very difficult for me, but you can't hang out with the same folks and expect to become a better person. There are exceptions, of course, but to a large degree your life is controlled by whom you choose to be friends and hang out with. Be aware that you don't want to be the same person at 30 as you were at 20. I'm not saying be an asshole -- keep being friendly by all means -- but be very careful who you hold yourself up against as "normal" | ||
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- Dating is a numbers game, like a lot of other things. Learn the skills of dating and don't sweat picking up chicks (or guys) | ||
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- Concentrate on your weaknesses. Make them stronger. When you get to your 30s you can work from your strengths, but there has to be some time in your life to work on shit you suck at, and for me it was when I had the most motivation, my 20s. | ||
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- Speaking of which, you have to learn management. No matter what you do, there will be a manager. Even if you don't want to be one, you have to understand what the job is like to help out your manager. Being a good leader means being a good servant. This concept sounded easy (or facile) to me in my 20s, but proved hard to apply in practice. | ||
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- You are never ready for kids. Have them early while you have energy. Read all the books about kids if you must, but realize that creating a replacement is about the most biologically easy thing you could do. After all, evolution has been working on making you a great gene transferral and primate-raising machine, so don't get paranoid and neurotic about all the latest parenting fashion. Use some sense. | ||
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- Everybody wants to be a rock star and win the lottery. Nobody ever does, and the ones that do end up destroying their life. Realize slow success is a million times better than overnight success. | ||
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- Much of the stuff in life that normal people do is geared around killing time by distracting you with shiny things of no value. You may never be able to fight this completely, but you should at least deeply understand it and how it affects your goals | ||
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- Create. With a passion. There are two major kinds of people in this world, consumers and creators. The herd will push you to consume, life will push you to consume, consumption is the easy and default path, but true joy and a full life come from creating. It does not matter one bit how many people like what you create, just create. Write. Blog. Make videos. Make a movie. Write a program. The longer the format and the more creativity involved, the more you are going to turn on and exercise key parts of your brain. Nobody wants to be 80 and only have stories of being at the office, but fuck, if you were at the office creating something at least you tried to make a difference. I'd rather be that guy than the one who watched Sumo wrestling everyday (or played 20,000 hours of WoW during his 20s) The only thing you're going to have at the end of your life are the decisions you made, the things you created, and memories. Learn to maximize these things. |
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