More on Personal Growth

Alexander Nguyen
3 years ago
How can you bargain for $300,000 at Google?
Don’t give a number
Google pays its software engineers generously. While many of their employees are competent, they disregard a critical skill to maximize their pay.
Negotiation.
If Google employees have never negotiated, they're as helpless as anyone else.
In this piece, I'll reveal a compensation negotiation tip that will set you apart.
The Fallacy of Negotiating
How do you negotiate your salary? “Just give them a number twice the amount you really want”. - Someplace on the internet
Above is typical negotiation advice. If you ask for more than you want, the recruiter may meet you halfway.
It seems logical and great, but here's why you shouldn't follow that advice.
Haitian hostage rescue
In 1977, an official's aunt was kidnapped in Haiti. The kidnappers demanded $150,000 for the aunt's life. It seems reasonable until you realize why kidnappers want $150,000.
FBI detective and negotiator Chris Voss researched why they demanded so much.
“So they could party through the weekend”
When he realized their ransom was for partying, he offered $4,751 and a CD stereo. Criminals freed the aunt.
These thieves gave 31.57x their estimated amount and got a fraction. You shouldn't trust these thieves to negotiate your compensation.
What happened?
Negotiating your offer and Haiti
This narrative teaches you how to negotiate with a large number.
You can and will be talked down.
If a recruiter asks your wage expectation and you offer double, be ready to explain why.
If you can't justify your request, you may be offered less. The recruiter will notice and talk you down.
Reasonably,
a tiny bit more than the present amount you earn
a small premium over an alternative offer
a little less than the role's allotted amount
Real-World Illustration
Recruiter: What’s your expected salary? Candidate: (I know the role is usually $100,000) $200,000 Recruiter: How much are you compensated in your current role? Candidate: $90,000 Recruiter: We’d be excited to offer you $95,000 for your experiences for the role.
So Why Do They Even Ask?
Recruiters ask for a number to negotiate a lower one. Asking yourself limits you.
You'll rarely get more than you asked for, and your request can be lowered.
The takeaway from all of this is to never give an expected compensation.
Tell them you haven't thought about it when you applied.

NonConformist
3 years ago
Before 6 AM, read these 6 quotations.
These quotes will change your perspective.
I try to reflect on these quotes daily. Reading it in the morning can affect your day, decisions, and priorities. Let's start.
1. Friedrich Nietzsche once said, "He who has a why to live for can bear almost any how."
What's your life goal?
80% of people don't know why they live or what they want to accomplish in life if you ask them randomly.
Even those with answers may not pursue their why. Without a purpose, life can be dull.
Your why can guide you through difficult times.
Create a life goal. Growing may change your goal. Having a purpose in life prevents feeling lost.
2. Seneca said, "He who fears death will never do anything fit for a man in life."
FAILURE STINKS Yes.
This quote is great if you're afraid to try because of failure. What if I'm not made for it? What will they think if I fail?
This wastes most of our lives. Many people prefer not failing over trying something with a better chance of success, according to studies.
Failure stinks in the short term, but it can transform our lives over time.
3. Two men peered through the bars of their cell windows; one saw mud, the other saw stars. — Dale Carnegie
It’s not what you look at that matters; it’s what you see.
The glass-full-or-empty meme is everywhere. It's hard to be positive when facing adversity.
This is a skill. Positive thinking can change our future.
We should stop complaining about our life and how easy success is for others.
Seductive pessimism. Realize this and start from first principles.
4. “Smart people learn from everything and everyone, average people from their experiences, and stupid people already have all the answers.” — Socrates.
Knowing we're ignorant can be helpful.
Every person and situation teaches you something. You can learn from others' experiences so you don't have to. Analyzing your and others' actions and applying what you learn can be beneficial.
Reading (especially non-fiction or biographies) is a good use of time. Walter Issacson wrote Benjamin Franklin's biography. Ben Franklin's early mistakes and successes helped me in some ways.
Knowing everything leads to disaster. Every incident offers lessons.
5. “We must all suffer one of two things: the pain of discipline or the pain of regret or disappointment.“ — James Rohn
My favorite Jim Rohn quote.
Exercise hurts. Healthy eating can be painful. But they're needed to get in shape. Avoiding pain can ruin our lives.
Always choose progress over hopelessness. Myth: overnight success Everyone who has mastered a craft knows that mastery comes from overcoming laziness.
Turn off your inner critic and start working. Try Can't Hurt Me by David Goggins.
6. “A champion is defined not by their wins, but by how they can recover when they fail.“ — Serena Williams
Have you heard of Traf-o-Data?
Gates and Allen founded Traf-O-Data. After some success, it failed. Traf-o-Data's failure led to Microsoft.
Allen said Traf-O-Data's setback was important for Microsoft's first product a few years later. Traf-O-Data was a business failure, but it helped them understand microprocessors, he wrote in 2017.
“The obstacle in the path becomes the path. Never forget, within every obstacle is an opportunity to improve our condition.” — Ryan Holiday.
Bonus Quotes
More helpful quotes:
“Those who cannot change their minds cannot change anything.” — George Bernard Shaw.
“Do something every day that you don’t want to do; this is the golden rule for acquiring the habit of doing your duty without pain.” — Mark Twain.
“Never give up on a dream just because of the time it will take to accomplish it. The time will pass anyway.” — Earl Nightingale.
“A life spent making mistakes is not only more honorable, but more useful than a life spent doing nothing.” — George Bernard Shaw.
“We don’t stop playing because we grow old; we grow old because we stop playing.” — George Bernard Shaw.
Conclusion
Words are powerful. Utilize it. Reading these inspirational quotes will help you.
Matthew Royse
3 years ago
7 ways to improve public speaking
How to overcome public speaking fear and give a killer presentation
"Public speaking is people's biggest fear, according to studies. Death's second. The average person is better off in the casket than delivering the eulogy." — American comedian, actor, writer, and producer Jerry Seinfeld
People fear public speaking, according to research. Public speaking can be intimidating.
Most professions require public speaking, whether to 5, 50, 500, or 5,000 people. Your career will require many presentations. In a small meeting, company update, or industry conference.
You can improve your public speaking skills. You can reduce your anxiety, improve your performance, and feel more comfortable speaking in public.
“If I returned to college, I'd focus on writing and public speaking. Effective communication is everything.” — 38th president Gerald R. Ford
You can deliver a great presentation despite your fear of public speaking. There are ways to stay calm while speaking and become a more effective public speaker.
Seven tips to improve your public speaking today. Let's help you overcome your fear (no pun intended).
Know your audience.
"You're not being judged; the audience is." — Entrepreneur, author, and speaker Seth Godin
Understand your audience before speaking publicly. Before preparing a presentation, know your audience. Learn what they care about and find useful.
Your presentation may depend on where you're speaking. A classroom is different from a company meeting.
Determine your audience before developing your main messages. Learn everything about them. Knowing your audience helps you choose the right words, information (thought leadership vs. technical), and motivational message.
2. Be Observant
Observe others' speeches to improve your own. Watching free TED Talks on education, business, science, technology, and creativity can teach you a lot about public speaking.
What worked and what didn't?
What would you change?
Their strengths
How interesting or dull was the topic?
Note their techniques to learn more. Studying the best public speakers will amaze you.
Learn how their stage presence helped them communicate and captivated their audience. Please note their pauses, humor, and pacing.
3. Practice
"A speaker should prepare based on what he wants to learn, not say." — Author, speaker, and pastor Tod Stocker
Practice makes perfect when it comes to public speaking. By repeating your presentation, you can find your comfort zone.
When you've practiced your presentation many times, you'll feel natural and confident giving it. Preparation helps overcome fear and anxiety. Review notes and important messages.
When you know the material well, you can explain it better. Your presentation preparation starts before you go on stage.
Keep a notebook or journal of ideas, quotes, and examples. More content means better audience-targeting.
4. Self-record
Videotape your speeches. Check yourself. Body language, hands, pacing, and vocabulary should be reviewed.
Best public speakers evaluate their performance to improve.
Write down what you did best, what you could improve and what you should stop doing after watching a recording of yourself. Seeing yourself can be unsettling. This is how you improve.
5. Remove text from slides
"Humans can't read and comprehend screen text while listening to a speaker. Therefore, lots of text and long, complete sentences are bad, bad, bad.” —Communications expert Garr Reynolds
Presentation slides shouldn't have too much text. 100-slide presentations bore the audience. Your slides should preview what you'll say to the audience.
Use slides to emphasize your main point visually.
If you add text, use at least 40-point font. Your slides shouldn't require squinting to read. You want people to watch you, not your slides.
6. Body language
"Body language is powerful." We had body language before speech, and 80% of a conversation is read through the body, not the words." — Dancer, writer, and broadcaster Deborah Bull
Nonverbal communication dominates. Our bodies speak louder than words. Don't fidget, rock, lean, or pace.
Relax your body to communicate clearly and without distraction through nonverbal cues. Public speaking anxiety can cause tense body language.
Maintain posture and eye contact. Don’t put your hand in your pockets, cross your arms, or stare at your notes. Make purposeful hand gestures that match what you're saying.
7. Beginning/ending Strong
Beginning and end are memorable. Your presentation must start strong and end strongly. To engage your audience, don't sound robotic.
Begin with a story, stat, or quote. Conclude with a summary of key points. Focus on how you will start and end your speech.
You should memorize your presentation's opening and closing. Memorize something naturally. Excellent presentations start and end strong because people won't remember the middle.
Bringing It All Together
Seven simple yet powerful ways to improve public speaking. Know your audience, study others, prepare and rehearse, record yourself, remove as much text as possible from slides, and start and end strong.
Follow these tips to improve your speaking and audience communication. Prepare, practice, and learn from great speakers to reduce your fear of public speaking.
"Speaking to one person or a thousand is public speaking." — Vocal coach Roger Love
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Ray Dalio
3 years ago
The latest “bubble indicator” readings.
As you know, I like to turn my intuition into decision rules (principles) that can be back-tested and automated to create a portfolio of alpha bets. I use one for bubbles. Having seen many bubbles in my 50+ years of investing, I described what makes a bubble and how to identify them in markets—not just stocks.
A bubble market has a high degree of the following:
- High prices compared to traditional values (e.g., by taking the present value of their cash flows for the duration of the asset and comparing it with their interest rates).
- Conditons incompatible with long-term growth (e.g., extrapolating past revenue and earnings growth rates late in the cycle).
- Many new and inexperienced buyers were drawn in by the perceived hot market.
- Broad bullish sentiment.
- Debt financing a large portion of purchases.
- Lots of forward and speculative purchases to profit from price rises (e.g., inventories that are more than needed, contracted forward purchases, etc.).
I use these criteria to assess all markets for bubbles. I have periodically shown you these for stocks and the stock market.
What Was Shown in January Versus Now
I will first describe the picture in words, then show it in charts, and compare it to the last update in January.
As of January, the bubble indicator showed that a) the US equity market was in a moderate bubble, but not an extreme one (ie., 70 percent of way toward the highest bubble, which occurred in the late 1990s and late 1920s), and b) the emerging tech companies (ie. As well, the unprecedented flood of liquidity post-COVID financed other bubbly behavior (e.g. SPACs, IPO boom, big pickup in options activity), making things bubbly. I showed which stocks were in bubbles and created an index of those stocks, which I call “bubble stocks.”
Those bubble stocks have popped. They fell by a third last year, while the S&P 500 remained flat. In light of these and other market developments, it is not necessarily true that now is a good time to buy emerging tech stocks.
The fact that they aren't at a bubble extreme doesn't mean they are safe or that it's a good time to get long. Our metrics still show that US stocks are overvalued. Once popped, bubbles tend to overcorrect to the downside rather than settle at “normal” prices.
The following charts paint the picture. The first shows the US equity market bubble gauge/indicator going back to 1900, currently at the 40% percentile. The charts also zoom in on the gauge in recent years, as well as the late 1920s and late 1990s bubbles (during both of these cases the gauge reached 100 percent ).
The chart below depicts the average bubble gauge for the most bubbly companies in 2020. Those readings are down significantly.
The charts below compare the performance of a basket of emerging tech bubble stocks to the S&P 500. Prices have fallen noticeably, giving up most of their post-COVID gains.
The following charts show the price action of the bubble slice today and in the 1920s and 1990s. These charts show the same market dynamics and two key indicators. These are just two examples of how a lot of debt financing stock ownership coupled with a tightening typically leads to a bubble popping.
Everything driving the bubbles in this market segment is classic—the same drivers that drove the 1920s bubble and the 1990s bubble. For instance, in the last couple months, it was how tightening can act to prick the bubble. Review this case study of the 1920s stock bubble (starting on page 49) from my book Principles for Navigating Big Debt Crises to grasp these dynamics.
The following charts show the components of the US stock market bubble gauge. Since this is a proprietary indicator, I will only show you some of the sub-aggregate readings and some indicators.
Each of these six influences is measured using a number of stats. This is how I approach the stock market. These gauges are combined into aggregate indices by security and then for the market as a whole. The table below shows the current readings of these US equity market indicators. It compares current conditions for US equities to historical conditions. These readings suggest that we’re out of a bubble.
1. How High Are Prices Relatively?
This price gauge for US equities is currently around the 50th percentile.
2. Is price reduction unsustainable?
This measure calculates the earnings growth rate required to outperform bonds. This is calculated by adding up the readings of individual securities. This indicator is currently near the 60th percentile for the overall market, higher than some of our other readings. Profit growth discounted in stocks remains high.
Even more so in the US software sector. Analysts' earnings growth expectations for this sector have slowed, but remain high historically. P/Es have reversed COVID gains but remain high historical.
3. How many new buyers (i.e., non-existing buyers) entered the market?
Expansion of new entrants is often indicative of a bubble. According to historical accounts, this was true in the 1990s equity bubble and the 1929 bubble (though our data for this and other gauges doesn't go back that far). A flood of new retail investors into popular stocks, which by other measures appeared to be in a bubble, pushed this gauge above the 90% mark in 2020. The pace of retail activity in the markets has recently slowed to pre-COVID levels.
4. How Broadly Bullish Is Sentiment?
The more people who have invested, the less resources they have to keep investing, and the more likely they are to sell. Market sentiment is now significantly negative.
5. Are Purchases Being Financed by High Leverage?
Leveraged purchases weaken the buying foundation and expose it to forced selling in a downturn. The leverage gauge, which considers option positions as a form of leverage, is now around the 50% mark.
6. To What Extent Have Buyers Made Exceptionally Extended Forward Purchases?
Looking at future purchases can help assess whether expectations have become overly optimistic. This indicator is particularly useful in commodity and real estate markets, where forward purchases are most obvious. In the equity markets, I look at indicators like capital expenditure, or how much businesses (and governments) invest in infrastructure, factories, etc. It reflects whether businesses are projecting future demand growth. Like other gauges, this one is at the 40th percentile.
What one does with it is a tactical choice. While the reversal has been significant, future earnings discounting remains high historically. In either case, bubbles tend to overcorrect (sell off more than the fundamentals suggest) rather than simply deflate. But I wanted to share these updated readings with you in light of recent market activity.

Bart Krawczyk
2 years ago
Understanding several Value Proposition kinds will help you create better goods.
Fixing problems isn't enough.
Numerous articles and how-to guides on value propositions focus on fixing consumer concerns.
Contrary to popular opinion, addressing customer pain rarely suffices. Win your market category too.
Core Value Statement
Value proposition usually means a product's main value.
Its how your product solves client problems. The product's core.
Answering these questions creates a relevant core value proposition:
What tasks is your customer trying to complete? (Jobs for clients)
How much discomfort do they feel while they perform this? (pains)
What would they like to see improved or changed? (gains)
After that, you create products and services that alleviate those pains and give value to clients.
Value Proposition by Category
Your product belongs to a market category and must follow its regulations, regardless of its value proposition.
Creating a new market category is challenging. Fitting into customers' product perceptions is usually better than trying to change them.
New product users simplify market categories. Products are labeled.
Your product will likely be associated with a collection of products people already use.
Example: IT experts will use your communication and management app.
If your target clients think it's an advanced mail software, they'll compare it to others and expect things like:
comprehensive calendar
spam detectors
adequate storage space
list of contacts
etc.
If your target users view your product as a task management app, things change. You can survive without a contact list, but not status management.
Find out what your customers compare your product to and if it fits your value offer. If so, adapt your product plan to dominate this market. If not, try different value propositions and messaging to put the product in the right context.
Finished Value Proposition
A comprehensive value proposition is when your solution addresses user problems and wins its market category.
Addressing simply the primary value proposition may produce a valuable and original product, but it may struggle to cross the chasm into the mainstream market. Meeting expectations is easier than changing views.
Without a unique value proposition, you will drown in the red sea of competition.
To conclude:
Find out who your target consumer is and what their demands and problems are.
To meet these needs, develop and test a primary value proposition.
Speak with your most devoted customers. Recognize the alternatives they use to compare you against and the market segment they place you in.
Recognize the requirements and expectations of the market category.
To meet or surpass category standards, modify your goods.
Great products solve client problems and win their category.

Kaitlin Fritz
3 years ago
The Entrepreneurial Chicken and Egg
University entrepreneurship is like a Willy Wonka Factory of ideas. Classes, roommates, discussions, and the cafeteria all inspire new ideas. I've seen people establish a business without knowing its roots.
Chicken or egg? On my mind: I've asked university founders around the world whether the problem or solution came first.
The Problem
One African team I met started with the “instant noodles” problem in their academic ecosystem. Many of us have had money issues in college, which may have led to poor nutritional choices.
Many university students in a war-torn country ate quick noodles or pasta for dinner.
Noodles required heat, water, and preparation in the boarding house. Unreliable power from one hot plate per blue moon. What's healthier, easier, and tastier than sodium-filled instant pots?
BOOM. They were fixing that. East African kids need affordable, nutritious food.
This is a real difficulty the founders faced every day with hundreds of comrades.
This sparked their serendipitous entrepreneurial journey and became their business's cornerstone.
The Solution
I asked a UK team about their company idea. They said the solution fascinated them.
The crew was fiddling with social media algorithms. Why are some people more popular? They were studying platforms and social networks, which offered a way for them.
Solving a problem? Yes. Long nights of university research lead them to it. Is this like world hunger? Social media influencers confront this difficulty regularly.
It made me ponder something. Is there a correct response?
In my heart, yes, but in my head…maybe?
I believe you should lead with empathy and embrace the problem, not the solution. Big or small, businesses should solve problems. This should be your focus. This is especially true when building a social company with an audience in mind.
Philosophically, invention and innovation are occasionally accidental. Also not penalized. Think about bugs and the creation of Velcro, or the inception of Teflon. They tackle difficulties we overlook. The route to the problem may look different, but there is a path there.
There's no golden ticket to the Chicken-Egg debate, but I'll keep looking this summer.
