TradeBriefs Editorial

From the Editor's Desk

There's no actual skill called "business": Naval

Nassim Taleb made his fortune, his wealth by being a trader who basically relied upon black swans. Nassim Taleb made money by losing little bits of money every day and then once in a blue moon he would make a lot of money when the unthinkable happened for other people.

Whereas most people want to make little bits of money every day and in exchange they'll tolerate lots of blow-up risk, they'll tolerate going completely bankrupt.

We're not evolved to bleed a little bit every day. If you're out in the natural environment, and you get a cut and you're literally bleeding a little bit every day, you will eventually die. You'll have to stop that cut.

We're evolved for small victories all the time but that becomes very expensive. That's where the crowd is. That's where the herd is. So, if you're willing to bleed a little bit every day but in exchange you'll win big later, you will do better.

That is, by the way, entrepreneurship. Entrepreneurs bleed every day.

Continued here

Read TradeBriefs every day, for the best insight!

Advertisers of the day
INSEAD: The INSEAD Leadership Programme for Senior Executives - India
Wharton Business Analytics Team: Wharton's Business Analytics Program (Online)

Our advertisers help fund the daily operations of TradeBriefs. We request you to accept our promotional emails.

TradeBriefs Editorial

From the Editor's Desk

Which countries get the most sleep - and how much do we really need?

Do you lie awake at night worrying you’re not getting enough sleep? You’re not alone - some countries are in the middle of a sleeplessness epidemic which has the potential to damage people’s health and productivity.

Among the most rested countries surveyed by Sleep Cycle, an app that tracks how much shuteye people are getting, New Zealand comes top with the average Kiwi clocking up in excess of 7.5 hours per night. Finland, the Netherlands, Australia, the UK and Belgium all rank highly for sleep, too, with Ireland close behind.

But not all developed economies rest well; South Korea and Japan are the world's worst countries when it comes to getting a good night's sleep. The problem of sleeplessness in Japan is well-documented, particularly in relation to the phenomenon of karoshi - death caused by lack of sleep.

Continued here

Read TradeBriefs every day, for the best insight!

Advertisers of the day
INSEAD: The INSEAD Leadership Programme for Senior Executives - India
Wharton Business Analytics Team: Wharton's Business Analytics Program (Online)

Our advertisers help fund the daily operations of TradeBriefs. We request you to accept our promotional emails.

TradeBriefs Editorial

From the Editor's Desk

Where even Walmart won't go: how Dollar General took over rural America

As Dollar General opens stores at the rate of three a day across the US, often in the heart of 'food deserts', some see Dollar General as an admission that a town is failing.

It moves into places not even Walmart will go, targeting rural towns and damaged inner-city neighbourhoods with basic goods at basic prices - a strategy described by a former chief executive of the chain as "we went where they ain't".

The chain now has more outlets across the country than McDonald's has restaurants, and its profits have surged past some of the grand old names of American retail. The company estimates that three-quarters of the population lives within five miles of one of its stores, which stock everything from groceries and household cleaners to clothes and tools.

Continued here

Read TradeBriefs every day, for the best insight!

Advertisers of the day
INSEAD: The INSEAD Leadership Programme for Senior Executives - India
Wharton Business Analytics Team: Wharton's Business Analytics Program (Online)

Our advertisers help fund the daily operations of TradeBriefs. We request you to accept our promotional emails.

Subcategories

You are here: Home Opinion