Ira Glass on Great Advertising, Part 2
“The amount of time finding the decent story is more than the amount of time it takes to produce the story… I think that, like, not enough gets said about the importance of abandoning crap.”
A dozen years from now 50% to 60% of transactions will be occurring online. And a surprising advantage will go to stores who sell online but advertise locally.
Warren Buffet and Charlie Munger made money by using a strategy that passed the test of time. At 97 years old, Munger attributes two things to his success: patience and inversion.
For every IBM, there are 100 Blockbusters. For every General Motors, there are 100 Polaroids. You can bet the leaders in your category will one day be in trouble. You can catch and pass them.
There’s no doubt that great businesses have equally great employees. But they also have their share of Bubba’s, Jim-Bob’s, and Tina-Marie’s. We never talk about those guys. If you ever lost sleep over a dumbass thing an employee did, you probably have a Bubba on your team.
Although Gretzky was undoubtedly the best player of his generation and arguably the best player of all time, he needed great players around him to win. Now look at your own business...