Some lovely quotes from the book, “Alchemy: The Dark Art and Curious Science of Creating Magic in Brands” by Rory Sutherland.
If you read them, you will not be able to stop yourself from buying the book and read it.
A thread!
Here you go
1. The economy is not a machine – it is a highly complex system. Machines don’t allow for magic, but complex systems do. Engineering doesn’t allow for magic. Psychology does.
2. When you demand logic, you pay a hidden price: you destroy magic.
3. The human mind does not run on logic any more than a horse runs on petrol.
4. Human behaviour is an enigma. Learn to crack the code.
5. To avoid stupid mistakes, learn to be slightly silly.
6. More data leads to better decisions. Except when it doesn’t.
7. Being slightly bonkers can be a good negotiating strategy: being rational means you are predictable, and being predictable makes you weak.
8. We could never have evolved to be rational – it makes you weak.
9. If you are wholly predictable, people learn to hack you.
10. The record of science in some ways casts doubt on a scientific approach to problem-solving.
11. Be careful before calling something nonsense.
12. The opposite of a good idea can also be a good idea.
13. Evolution doesn't care about objectivity. It only cares about fitness.
14. For a business to be truly customer-focused, it needs to ignore what people say. Instead, it needs to concentrate on what people feel.
15. You don’t need reasons to be rational.
16. In trying to encourage rational behaviour, don’t confine yourself to rational arguments.
17. Logic should be a tool, not a rule.
18. To put it crudely, when you multiply bullshit with bullshit, you don’t get a bit more bullshit – you get bullshit squared.
19.Don’t design for average.
20.A good guess which stands up to observation is still science. So is a lucky accident.
21.We should test counterintuitive things – because no one else will.
22.In the physical sciences, cause and effect map neatly; in behavioural sciences, it is far more complex. Cause, context, meaning, emotion, effect.
23. The more data you have, the easier it is to find support for some spurious, self-serving narrative. The profusion of data in the future will not settle arguments: it will make them worse.
24. In psychology these laws do not apply: one plus one can equal three.
25. In maths it is a rule that 2 + 2 = 4. In psychology, 2 + 2 can equal more or less than 4. It’s up to you.
26. If you declare something highly exclusive and out of reach, it makes us all want it much more – call it ‘the elixir of scarcity’.
27. Never forget this: the nature of our attention affects the nature of our experience.
28. Politeness demands that we perform hundreds of little rituals, from opening doors to standing up when someone enters the room, all of which is more effortful than the alternative. By such oblique means, we convey that we care about their opinion – and about our reputation.
29. If rationality were valuable in evolutionary terms, accountants would be sexy. Male strippers dress as firemen, not accountants; bravery is sexy, but rationality isn’t.
30. The advertisements which bees find useful are flowers – and if you think about it, a flower is simply a weed with an advertising budget.
31. Branding isn’t just something to add to great products – it’s essential to their existence.
32. To recalibrate our immune response to levels appropriate to the more benign conditions we experience in everyday modern life, it may be necessary to deploy some benign bullshit.
33. What really is and what we perceive can be very different.
34.Behaviour comes first; attitude changes to keep up.
35.Remember, if you never do anything differently, you’ll reduce your chances of enjoying lucky accidents.
36. This is not irrationality – it is second-order social intelligence applied to an uncertain world. By using a simple economic model with a narrow view of human motivation, the neo-liberal project has become a threat to the human imagination.
37.If we could resist the urge to be logical just some of the time, and devote that time instead to the pursuit of alchemy, what might we discover? Quite a lot of lead, I suspect. But a surprising amount of gold.
If you like the above collection of our favourite quotes from the book, don't forget to like and tweet for a wider reach.🙂
This thread is just a trailor. If you want to watch the full movie, please please read the book.
You will never regret buying it.
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We are going to tell you about 3 famous Capital Allocators in the world of business & investing.
All 3 of them:
~Started with almost 0 inheritance of capital
~Built a formidable empire from scratch
~Acquisitions of businesses have been an integral part of their strategy
They are Different
~In their style of acquisitions
~In industries they operate in
~In geographies they cater to
~In scale, and
~In how they communicate to their stakeholders
Imagine all 3 of them to be in the same room and they are asked one by one what is one key aspect of their acquisition which separates them from the rest:
Capital Allocator 1: "I never look for a perfect asset. If you are going to acquire a perfect asset then the whole world is
Tribute to Tony Hsieh, who is no more due to an unfortunate accident recently.
His company, Zappos, was acquired by Amazon (valuing it at $1.2 Billion).
This thread is on some of the quotes from his bestselling book,
Delivering Happiness- A path to
Profits, Passion & Purpose
1.For individuals, character is destiny. For organizations, culture is destiny.
2.Things are never as bad or as good as they seem.
3.I had decided to stop chasing the money, and start chasing the passion.
4. What's the best way to build a brand for the long term? In a word: Culture.
5. To WOW, you must differentiate yourself, you must do something thats above & beyond what's expected & whatever you do must have an emotional impact on the receiver.
If you haven't liked Economics in your school or college, pick up the book, "Basic Economics" by @ThomasSowell and you will change your mind.
There's not a single equation or chart. Simple words with lots of examples.
A thread on some of the quotes in no particular order.
1. Economics is a study of cause & effect relationships. Its purpose is to discern the consequences of various ways of allocating resources that have alternative uses. It has nothing to say about philosophy or values, anymore than it has to say about music or literature.
2. As an entrepreneur in India put it: 'Indians have learned from painful experience that the state does not work on behalf of the people. More often than not, it works on behalf of itself.
Kartik: Ankit, while you have written about the art of survival in detail, you have not touched upon the thriving part at all in your post.
Do you really want to say that only survival is necessary for achieving success as an investor or as a human being? Don’t you think there is more to it?
Me: That’s an interesting observation, Kartik.
Survival is indeed the biggest requisite for any investor or for any human being, for that matter. But is survival really enough? Never gave it a serious thought. Maybe, to boost me in times of adversity I focus on the one thing and that is survival.