November 6, 2024
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Albert Einstein, The Mimetic Theory of Desire & A World 25 Years Away
At a glance
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Good morning to all new and old readers! Here is your Wednesday edition of Faster Than Normal, exploring one short story about a person, a company, a high-performance tool, a trend I’m watching closely, and curated media to help you build businesses, wealth, and the most important asset of all: yourself.
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Today’s edition:
> Stories: Albert Einstein & eBay
> High-performance: The Mimetic Theory of Desire
> Insights: George Lucas on perseverance in the film industry
> Tactical: A world 25 years away
> 1 Question: Reversible Choice
Cheers,
Alex
P.S. Send me feedback on how we can improve. I respond to every email.
Stories of Excellence
Person: Albert Einstein
Albert Einstein, the German-born theoretical physicist, changed our understanding of the universe with his groundbreaking theories of relativity. Born in 1879, Einstein's early years were marked by curiosity and a rebellious spirit against authority. His work on the photoelectric effect earned him the Nobel Prize in Physics in 1921. Einstein's famous equation E=mc², which relates energy and mass, became a cornerstone of modern physics. Despite his scientific genius, Einstein was known for his humility and pacifism. He fled Nazi Germany in 1933 and settled in the United States, where he continued his research at Princeton University. Einstein's legacy extends beyond physics, as he became a symbol of scientific brilliance and used his fame to advocate for peace and civil rights.
Key Lessons from Albert Einstein:
On persistence: "It's not that I'm so smart, it's just that I stay with problems longer."
On creativity: "Imagination is more important than knowledge. Knowledge is limited. Imagination encircles the world."
On problem-solving: "We cannot solve our problems with the same thinking we used when we created them."
Company: eBay
eBay was founded in 1995 by Pierre Omidyar, a computer programmer who created the site as a personal project. The first item sold was a broken laser pointer for $14.83. Surprised by this sale, Omidyar contacted the winning bidder to ask if they understood that the laser pointer was broken. The buyer replied, "I'm a collector of broken laser pointers." This response inspired Omidyar to build eBay into a full-fledged business. In 1996, he hired Chris Agarpao as the first employee and brought in Jeff Skoll as president. Meg Whitman joined as CEO in 1998, leading the company through its IPO that same year, which raised $63.5 million and valued eBay at $1.88 billion.
Key Lessons from eBay
On timing: Sometimes, being early is as good as being right. eBay launched just as the internet was taking off. Perfect timing. They rode the wave of online adoption.
On leadership: Know when to step aside. Omidyar realized he wasn't the right person to lead eBay as it scaled. He brought in Meg Whitman as CEO in 1998, focusing on his strengths as a visionary instead.
On adaptability: Be willing to cannibalize yourself. When fixed-price listings started outperforming auctions, eBay embraced the change despite it being a departure from their core model.
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The Mimetic Theory of Desire
The Mimetic Theory of Desire was developed by French philosopher René Girard. It suggests that our desires aren't our own, but are copied from others. "Man is the creature who does not know what to desire, and he turns to others in order to make up his mind," Girard said. We want things because others want them.
This theory makes sense when you think about how trends spread. You might not care about a new gadget until you see your friends using it. Suddenly, you want one too. It's not about the object itself, but about the desire of others. This mimetic desire can lead to rivalry and conflict, as people compete for the same things.
Have you ever bought something just because it was popular? Or changed your mind about something when you saw others interested in it? That's mimetic desire at work. It's worth thinking about how much of what you want is truly your own desire, and how much is influenced by others.
Insights
George Lucas on perseverance in the film industry:
"My first six years in the business were hopeless. There are a lot of times when you sit and you say 'Why am I doing this? I'll never make it. It's just not going to happen. I should go out and get a real job, and try to survive.'"—George Lucas, American filmmaker, entrepreneur, and creator of the Star Wars and Indiana Jones franchises
Tactical reads
⎯
> When scaling yourself
Growing with your company's complexity (Read it here)
> When contemplating fundamental trends
Three Investing Trends for 2024 and Beyond (Read it here)
> When improving communication
Think Fast, Talk Smart: Communication Techniques (Read it here)
> When contemplating a world 25 years away
What the next 10-25 years might look like, Vinod Khosla (Read it here)
> When building a principled approach to wealth
Turning Values into Wealth (Read it here)
1 question
Before making an important decision, ask yourself: Is the decision I’m about to make reversible or irreversible?
That’s all for today, folks. As always, please give me your feedback. Which section is your favourite? What do you want to see more or less of? Other suggestions? Please let me know.
Have a wonderful rest of week, all.
Recommendation Zone
⎯
Staying on top of everything is essential for Entrepreneurs and busy professionals. I’ve been using Fyxer AI, and it’s made a significant difference in how I manage my workflow and save time daily.
With Fyxer AI, I can take advantage of:
Email Organisation: It helps me focus by highlighting important emails and filtering out distractions.
Automated Email Drafting: I love how it leaves draft replies for emails I need to respond to or follow up on.
Meeting Notes: It captures notes from my calls, saving me the hassle of remembering every detail.
The best part? It took me just minutes to get started.
Experience it for yourself with a 14-day trial, no credit card required.
Alex Brogan
Find me on X, LinkedIn, YouTube, Instagram, TikTok
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