I set myself two book-related goals this year: first, I established a target of reading 50 (non-children’s) books. I missed it by some distance. (more…)
Two years ago, I quit my job and founded Portico.
At the time, I questioned the prudence of launching a business catering to an industry in cyclical — and perhaps structural — decline, and markets where fewer and fewer investors seem keen to tread. I mean, all the books say that you’re supposed to ride the wave of a growing industry, or at least choose one in which the customer base isn’t shrinking.
But, the thing about journeys is they start where you’re standing. So, I took the first step with a disregard for the macro and industry cycles.
Two years later, those founding doubts persist. (more…)
About four years ago, I wrote a post called “The Reckoning.” In it, I put forward the idea that unsustainable economic trends in the United States would lead to the emergence of populist politics and demagogues.
In the conclusion, I suggested that this incipient “reckoning” was symptomatic of a cleavage between different generations’ perceptions of the world. Basically, (1) that the generation that grew up in the post-World War II era — which by definition is responsible for the state of the union — would be incapable of adapting to a world without American primacy; and, (2) that the generation coming of age in a period of entropy and uncertainty would be willing to take on the shibboleths that have impeded political progress.
I closed with the following: (more…)
I’ve been digging through some historical tax receipts data (#NerdAlert) to determine whether investment income — defined as net income from taxable interest, dividends, capital gains, and rent — has been rising as a share of gross income. To my surprise, it has been fairly flat at around 10% in recent years (see Exhibit 1). (more…)
In The Inevitable, Kevin Kelly says that at least 27 new podcasts launch each day. That’s nearly 10,000 per year! And I bet that number has grown since his book was published.
I haven’t looked very hard for a solution, but one of my biggest headaches with podcasts is discovery: finding a new voice / perspective to which I want to listen. Since most podcasts target a niche, then by definition, to each listener, most podcasts are shit. (more…)
Recreational reading took a back seat to building my company and enjoying time with my family this year. So, I am limiting this year’s selection to my favorite six books. (more…)
The Republican tax plan is an odious hand-out to large corporations and a big 🖕 to most citizens and small businesses. Until I read this summary of the House Bill, I generally thought people who called Republicans corporatist bootlickers were being unfair. But here we are.