Thinks 755

WSJ: “Researchers found that Chinese subsidies may be vulnerable to special-interest politics and went to favored groups or to stabilize employment or industries in decline. “At the aggregate level,” the authors write, “subsidies seem to be allocated to less productive firms, and the relative productivity of firms’ receiving these subsidies appears to decline further after disbursement.” Talk about myth busting. This should quell anxiety that Beijing’s state-directed allocation of capital is working for China, much less is a model for anyone else.”

Eric Ashman: “Here are three questions to ask when evaluating the potential of a new product or service: Will your early adopters accelerate organic growth? Are your customers coming back for more? Do you have enough pricing power to deliver profitability?…. Building a culture of innovation isn’t easy. It requires an acceptance of failure, supported by a culture of measurement and accountability. But it’s a powerful force for finding product-market fit, profitability scaling your startup and building enterprise value. It’s also a much more fun and fulfilling way to build your company. ”

Theodore Roosevelt: “It is not the critic who counts; not the man who points out how the strong man stumbles, or where the doer of deeds could have done them better. The credit belongs to the man who is actually in the arena, whose face is marred by dust and sweat and blood; who strives valiantly; who errs, who comes short again and again, because there is no effort without error and shortcoming; but who does actually strive to do the deeds; who knows great enthusiasms, the great devotions; who spends himself in a worthy cause; who at the best knows in the end the triumph of high achievement, and who at the worst, if he fails, at least fails while daring greatly, so that his place shall never be with those cold and timid souls who neither know victory nor defeat.”

Kyle Harrison: “Founders will continue to get bundled as larger firms start thinking about their portfolios as “asset exposure,” rather than individual company journeys. Ask a founder, who raised at a hefty valuation, what their VCs are doing for them right now. The good ones are helping figure out the process of battening down the hatches, and growing their business more thoughtfully. But a lot of them? Disappearing. The “asset” is underwater, and they’re better off spending their time with assets whose price isn’t as miscalculated. As the aggregation of assets in venture continues, there will be pros and cons. Some of the value-add of different venture firms is made possible because they become a center of gravity, and that’s powerful. But for founders, it’s important to understand the business model of these larger firms and how much or how little your company’s outcome may move the needle for them, and therefore how motivated they are for you.”

Chris Nassetta, CEO of Hilton: “In the room, the biggest changes you’ll see will be just getting the basics right and technology. You would laugh at the things that we talk about because you’d say: Of course, Chris, everybody cares about this stuff. But getting it right all the time makes a difference. What are the things that people care about? A great bed. Great linens. Great lighting. Plugs by my bed. A great TV with great content. Great bathrooms, space on the counter, a great lighted mirror. Water pressure and hot water. And great towels. Don’t give me sandpaper—I’ve stayed in some of our competitors…I have a philosophy in life, and that is keeping a steady hand on the wheel. Have a plan and work the plan and adapt the plan. The plan needs to change. Let me use driving vernacular. I don’t take every exit, but I will change lanes and I will take exits that really make sense. My longevity has been the ability to just sort of filter noise out and know when to take an exit occasionally, when to change lanes, but not doing it so often that everyone around you is rattled and they can’t see what tomorrow is going to be.”

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Rajesh Jain

An Entrepreneur based in Mumbai, India.

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