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Don't. Waste. Time.

humbledmba.com

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Re: Don't. Waste. Time.

#71
post #67
post #57

Earlier quoted context omitted.

It means that money isn't a good point system. The simplest way to reason this is that many people around the world make tons of money for selling something that isn't useful/valuable. Scams are probably at the bottom of the 'point system' but pull in tons of money. For money to be a good point system, everyone with a wallet would have to be sensible and make good market choices but unfortunately the case is, for the…

Again, this goes to a moral basis. Or at least a value judgment. The original question asked about which was cooler and supposed that money had a factor. My point was that money is a factor, but not because it can be converted into signed limited edition Jane Austeen books for your private island. It is because it serves as a point system when you play the game of life. Sure, we should think about how someone got the…

I posted this as a reply to Goblin, but I missed the subtle point about it being a point system to 2 decimal places. I also made a point that I think it really depends on what type of thing you are trying to measure, as for bands a good point system is the amount of fans you have. With that said I think it's totally awesome to say that the best point system for startups is $$$.

Re: Don't. Waste. Time.

#73
post #56

Earlier quoted context omitted.

> if it was the case, the price of current products sold on the market should reflect well their inherent value, which I think it doesn't. Money is good since it provides a reference point, a solid ground for measurement and comparison. Although often you need to take into account some non-obvious stuff when you compare two amounts of money (esp. prices), it still does work. For ‘inherent value’ each person would see…

> most people would feet-vote for a big mac rather than a book Seriously? If you had to be thrown on a desert island and bring only one thing, would you bring a short term belly chemical satisfaction asset like a big mac, or a long term spirit satisfaction asset like a Classic book in your mother tongue?

This is a straw man argument. Very, very few people will ever be in such a situation.

However, what is unfortunately much more common is day to day hunger. I'm willing to bet that most people (myself included), after a few days of not eating, would rather have the Big Mac than the Austen book.

I love literature, but it won't keep me alive.

Re: Don't. Waste. Time.

#74
post #22

When it comes to efficiency/effectiveness, I prefer to focus on "Do" instead of "Don't". Richard Hamming (from "You and Your Research"): 1. What are the most important problems in your field? 2. Are you working on one of them? 3. Why not? http://www.paulgraham.com/hamming.html Paul Graham's (from "Good and Bad Procrastination") generalization of Richard Hamming: What's the best thing you could be working on, and why…

i think that's a pretty bad metric. there's absolutely no reason that working on the most important problems in your field won't end up being a complete waste of your time, because you are ill-equipped to make any real progress on them. i prefer feynman's philosophy, as expressed in a letter to a student who felt that the problem he was working on wasn't "worthwhile" enough:

The worthwhile problems are the ones you can really solve or help solve, the ones you can really contribute something to. ... No problem is too small or too trivial if we can really do something about it.

-- Richard Feynman

read the whole letter, it's very inspiring: http://scienceblogs.com/thescian/2008/03/what_are_worthwhile...

Re: Don't. Waste. Time.

#75
post #35
post #22

When it comes to efficiency/effectiveness, I prefer to focus on "Do" instead of "Don't". Richard Hamming (from "You and Your Research"): 1. What are the most important problems in your field? 2. Are you working on one of them? 3. Why not? http://www.paulgraham.com/hamming.html Paul Graham's (from "Good and Bad Procrastination") generalization of Richard Hamming: What's the best thing you could be working on, and why…

One thing I've always wanted to ask PG is: does he think that helping smart people to get rich flipping companies (usually not by doing the "coolest thing") is cooler than making a great Lisp? One answer to why not, is: "No money".

I venture that PG knows at some level that he'll be best remembered for the creation of YC rather than for the creation of Arc.
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