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A few Random Items

Posted By Barry Ritholtz On June 13, 2004 @ 6:34 am In Finance | Comments Disabled

Random Items

The Story of the Two Things [1]

A few years ago, I was chatting with a stranger in a bar. When I told him I was an economist, he said, “Ah. So… what are the Two Things about economics?”

“Huh?” I cleverly replied.

“You know, the Two Things. For every subject, there are really only two things you really need to know. Everything else is the application of those two things, or just not important.”

“Oh,” I said. “Okay, here are the Two Things about economics. One: Incentives matter. Two: There’s no such thing as a free lunch.”

Harboring destruction [2]
The U.S. has a few key vulnerabilities. One in particular: its ports. A few smart companies are developing technology to plug – and profit from – those security holes.

Gmail Invitation Prices Crash [3]
Nelson to speculators: Ha-ha!

Food Makers Changing Genes [4]
Not a surprise at all . . .

2004 Top Ten Favorite Words [5]
Some favorites: Onomatopoeia, discombobulate, plethora, persnickety, kerfuffle . . .

Quote of the Day
“The average big company grows at about ten percent a year. So if you’re running a big company and you do everything the way the average big company does it, you can expect to do as well as the average big company–that is, to grow about ten percent a year.

“The same thing will happen if you’re running a startup, of course. If you do everything the way the average startup does it, you should expect average performance. The problem here is, average performance means that you’ll go out of business. The survival rate for startups is way less than fifty percent. So if you’re running a startup, you had better be doing something odd. If not, you’re in trouble.”

- Paul Graham [6], “Beating the Averages”.


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URL to article: http://www.ritholtz.com/blog/2004/06/a-few-random-items/

URLs in this post:

[1] The Story of the Two Things: http://www.csun.edu/~dgw61315/thetwothings.html

[2] Harboring destruction: http://www.redherring.com/article.aspx?a=10646

[3] Gmail Invitation Prices Crash: http://www.wired.com/news/infostructure/0,1377,63786,00.html

[4] Food Makers Changing Genes: http://www.wired.com/news/technology/0,1282,63779,00.html

[5] 2004 Top Ten Favorite Words: http://www.m-w.com/info/favorite.htm

[6] Paul Graham: http://www.paulgraham.com/avg.html

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