David Weinberger, Wall Street Journal, New York discussed on Money For the Rest of Us

Automatic TRANSCRIPT

Five thousand copies of the book where I'd put up the money to buy five thousand copies, and they would strategically by books all around the country. So it looks like it was or Ganic sales. But five thousand books, we'll get you on the Wall Street Journal bestseller list trying to buy influence. It's not worth it. The way that you get influence is you pass through time. It's through word of mouth. It's by building mass. We talked a little bit about this couple episodes ago on initial public offerings in venture capital. And this is what startup companies are doing this whole idea of blitz. Scaling is trying to see this word of mouth growth. Now, some of them, try to buy the influence put so much money in at the end of that it doesn't work and less individuals, buy into whatever they're trying to not even sell just usually use some type of an app, but the idea is that it takes time. And as, as we've talked about in that episode the average private companies tend to twelve years old, they've put the ten to twelve years in building that influence. David Weinberger in the book everyday chaos talked about the Occupy Wall street movement. I remember going to that in New York are just through to park. When I say, I'm going through that makes it suddenly it was an event. I mean they were they were protesting, but it didn't have an objective. There wasn't an end game. It was just a protest to build influence. And so what was what happened at the end? Well think about the term the one percent. It's in the lexicon. Now we're aware of it. And that was because of the Occupy Wall street movement, and whether you were for against that, but it's we're aware of it. Weinberger writes, in fact, occupy, many protests movements are like gravity in Einstein sense. Space-time is reshaped by objects with mass. The more people who are pulled into the gravity. Well, the greater the movements mass as its gravity grows. It starts to affect the environment, more widely and more powerfully sometimes at such a distance that people don't always know they're being pulled by it. That's how businesses are grown today, client by client word of mouth, tell my podcast is grown tell blogs grow, but it takes time. You have to pass through time, nother example of something that compounds over time is expertise as we learn new things, we gain inventories of skills, which we can then combine, and new and novel ways. That's what wisdom is the judgment. It's based on their experiences in our expertise. There's no shortcut for that. Another thing that compounds with time is polish perfection, creating something, and making it better and better, I used to think books, for example. Why is it takes a long to get a book published should be faster than that? Well, you can't rush it. It is a lengthy process, because you're trying to perfect or at least improve a body of work and it takes time. I've sent my book out the twenty five reviewers who were kind enough to take the time to provide candid feedback on the book. And so then I went through another round of improving it. And that's how we built something but you have to pass through time in order to do that. So we need in order to do that. We have to be able to invest our time and be aware of how we use our time, because the world is full of distractions social media. They idea the attention economy, many of these startups. They're vying for attention. We are selling our attention to them Jenny Dell and how to do nothing says, civil disobedience in the attention, economy means withdrawing attention. But she says we don't do it by loudly quitting Facebook. And then tweeting about it instead. She writes, a real withdraw of attention happens. First and foremost in the mind, what is needed then is not a once and for all type of quitting. But ongoing training the ability to not just to withdraw attention, but to invest it somewhere else to enlarge and proliferated to improve its acuity. We need to invest our ten. Inactivity, he's that compound over time things like creating things that will give us influence over time learning new skills that we can invest and combine in different ways over time. That's how we should invest our attention and we can take breaks from it. I love this book recently finished by teary, but quite the art of the siesta. He says the originality of the work that each of us hopes to achieve depends largely upon containing control of our time. And, you know, you have control of your time if you can take a nap or take a siesta, and we can't always do them and some, some jobs just don't permit them. But we want least some control so that we can be creative. He writes, the siesta is the means for us to reclaim our own time, outside of the clockmakers control this, yes, is our liberator. He says, it's an act of rebellion, but ultimately, we need to invest investor funds investor money, but invest in activities that will compound over time our influence, our skills are experience or wisdom. And the reality is, as time passes, we're going to get older and one of the ironies of the age. Is sometimes we want to take shortcuts and buy things that look old and distressed, but not ourselves, the American society of plastic surgeons reports that Bo taks use among those age twenty to twenty nine has increased twenty eight percent since two thousand ten there's a fear of getting old. There was an article in vogue by Lauren Valenti and Chloe Atkinson, they mention they interviewed a plastic surgeon who said lines get deeper and deeper with aids. So if you start getting botox early enough, and it's done properly, you're not going to need as much in the future. But the authors warn, here's a quote for younger patients wary of the frozen. Look, remember, youthful faces move. Have you seen that somebody that used too much tax? They're frozen frozen in time. They don't have any expression to pass through time. The can't freeze time. So we lived through time time changes us. We work hard and put in the time our influence grows. Our expertise grows are polished grows our skills, growth are characters gross and our wrinkles increase, but as we do those things are wealth grows not just through the compounding of monetary investments. But because we will earn superior returns in the marketplace of ideas. People wanna hire us for what we bring to the table because of our influence our wisdom and our skills because we've invested over time and.

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