I just listened to this wonderful episode of “Coffee With The Greats” — a conversation between @milesfisher, his dad, and Ajay Banga (the CEO of MasterCard, @Mastercard).
It’s packed with so many interesting nuggets — the threadaholic in me can’t resist summarizing them!
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Key things Ajay learned from his parents.
From his mom: Constantly educate yourself and keep improving yourself so you can help others more.
From his dad: Connect with everyone. Learn from everyone. Find the humanity in everyone.
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It’s super important to have “alone time” to think.
Ajay tries to set aside the first 45 mins of each day (8:00am to 8:45am) — to read, think, envision the future, etc.
And he tries to not have back to back meetings. Gaps between meetings help digest information better.
In this thread, I'll help you understand the basics of game theory and Nash Equilibria.
This can help you systematically analyze many economics and business situations.
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Since this is a magical topic, we'll set this thread in the Harry Potter universe.
Imagine that you're Ollivander, the wand maker.
You source magical raw materials and make wands out of them. You sell these wands to witches and wizards out of a shop located in Diagon Alley.
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The wand business is highly seasonal.
95% of your sales happen in the two weeks before Hogwarts reopens each year.
Most witches and wizards buy a wand just before their first year at Hogwarts. And they use that wand their whole lives -- so there's not much repeat business.