Best Investment, Ever.

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Below is the best Investment Advice by Mr. Warren Buffet.

“Invest in as much of yourself as you can, you are your own biggest asset by far.” — Warren Buffett

Very True.

Sounds very cliched, heard many times. Some how, when we read quotes, watch inspiring video, read essay or some other inspiring materials, we know what it is or what should be Done. Intuitively, we connect to it, but that means, our automatic thinking, or system-1 as Mr. Daniel Kahneman succinctly puts into his brilliant book, Thinking Fast, Thinking Slow. To understand the meaning behind the words, we must engage – System – 2 or measured thinking. If you do not know about the two system of thinking,  read the book, I have referred or do some google search, its a first step towards, what I am writing hereinafter.

The difficult part of  reading all these life altering philosophy  is “How to do / How to Invest in One’ Self”.

Let us understand, How to Invest in Yourself.

I have no Idea about How, nor I gave serious consideration, so I am as much in game with you, as explorer and certainly not as sooth sayer. Most of us have completed 5, 10, 15 years or more of Employment Schooling after we obtained our “Graduation/Post Graduation or Degree”. Mostly, we have graduated in our Choosen Vocation/Profession. In school, we have grades, exams; In real life, we have challenges, promotion, earnings. In school, we are taught by teacher, whereas we are required to Learn by Self. So answer is simple, LEARN.

Thats where we could find Answer to HOW?

We can not take coaching, tuition or classes. If you are lucky, once in a while, you attend a conference. We do not have concept of Mentor. To me, its a primary step; looking forward to some one, who could guide us in taking right decision. Its an important but only Half of How to Learn.

Second half, depends upon; looking the work you are doing very objectively. Even if its mundane, automated, monotonous, you can still learn from it, Learn to improve your multiple skill sets.

The skills that comes immediately to mind;

@ Business Writing.

@ Basics of Finance, Accounts, Investment.

@ Comprehension.

@ Judgement and Decision Making.

@ Elementary Technology.

@ Elementary Economics.

@ Tenets of Management. Getting Things Done.

@ Sharpening Leadership.

@ Reading on diverse subject.

These all does not require any special attention or time. If one integrate all these in day to day Work Flow, learning is automated. I am sure, you are doing something or other thing to keep learning. Hence, question of How to Learn can be found in day to day work life. Iam not referring to  a structured learning, that does not mean, its not important or relevant. If you work demands constant updation of knowledge/skills it automatically forces you on the path of learning. Unfortunately, for most of us, including yours truly, it requires some effort. And thats where the Answer to HOW can be found. Doing everything with fresh perspective, trying to move beyond obvious, thinking why it is done and why can’t it be done differently, how to improve, can I draft a letter bit better? Am I using various mental tools available in my day to day decision making, can new techniques be learned, can I Improve on what I am doing… I am not giving lecture, its the natural question that popped into my conscious thinking, while drafting. So yes, its completely unedited version..In fact, it also opened up my thinking…

Thus, Mr Buffett’s Wisdom is clear: Learn as much as You can, thats best Investment you can make in Yourself.  Investment also to be done in Health, Relationship, Deep Habits, Financial Health…But thats topic for some other day.

Be a rosh gadol

Posted on Leave a commentPosted in Leadereship, Learning

In Israel, soldiers who are rosh gadol (big head) are distinguished from those who are rosh katan (little head). Rosh katan behaviour is shunned because it means interpreting orders as narrowly as possible and to avoid taking on responsibility or extra work.

Rosh gadol thinking means following orders but using judgement. It emphasises execution discipline with improvisation. Rosh gadol connotes a responsible can-do attitude. With a similar spirit, one of my Tata colleagues, Ravi Arora, ends his e-mails with the words, “If it’s a good idea, go ahead and do it. It is much easier to ask forgiveness than it is to get permission.”

Bitzua, chutzpah and such expressions come alive in an eminently readable and inspiring book called Start-Up Nation: the Story of Israel’s Economic Miracle (Dan Senor and Saul Singer, Twelve Hachette Group, 2009).  Bitzua translates into ‘getting things done’. This spirit of ‘try it, just do it’ is all-pervasive in Israel and has led to the country becoming a top destination for R&D. According to Jewish scholar Leo Rosten, chutzpah is “gall, brazen nerve, effrontery, presumption plus arrogance.”

The secret lies in culture, not processes. Companies should examine how to develop more rosh gadol, chutzpah and bitzua by influencing the organisational culture rather than only their processes.

Source : innocolumn – Business Standard By R. Gopalkrishanan

This applies to Individual as well…One must decide, in taking daily decision and being opinionated, would like to be Rosh gadol or rosh katan..

Learn from Losers

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In 1943, the American statistician Abraham Wald was asked to advise the US air force on how to reinforce their planes. Only a limited weight of armour plating was feasible, and the proposal on the table was to reinforce the wings, the centre of the fuselage, and the tail. Why? Because bombers were returning from missions riddled with bullet holes in those areas.

Wald explained that this would be a mistake. What the air force had discovered was that when planes were hit in the wings, tail or central fuselage, they made it home. Where, asked Wald, were the planes that had been hit in other areas? They never returned. Wald suggested reinforcing the planes wherever the surviving planes had been unscathed instead.

It’s natural to look at life’s winners – often they become winners in the first place because they’re interesting to look at. That’s why Wald gives us an important lesson. If we don’t look at life’s losers too, we may end up putting our time, money, attention or even armour plating in entirely the wrong place.

Credit : Tim Harford.

What do I Do When I Fail – By Leo Babauta

Posted on Leave a commentPosted in Learning

I fail at things much more than you might imagine, given that I’ve written books on forming habits and being content with yourself and being a minimalist and more.

I fail at all of that stuff, and it feels just as horrible for me as it does for anyone else.

I get down on myself, feel guilty, try to avoid thinking about it, would rather hide it from everyone else.

Failing at things can really suck.

And yet, I get back up and try again.

I fail at eating healthy on a regular basis, but I keep trying again. I’m pretty good these days at sticking to an exercise plan, but I failed and tried again, regularly, for years and years.

I’ve made several attempts at writing the book I’m writing now, and scrapped it all each time because it didn’t feel right. And yet, I started again, and I’m almost done now.

I fail at loving myself. But I don’t give up on that.

I fail at being a good dad, seemingly multiple times a day. But I continue to try, and sometimes I succeed.

When I try over and over again, once in awhile I succeed.

So what’s the secret? Well, there isn’t any. You just have to keep trying.

That said, here’s what I’ve found to work:

I learned a more flexibile mindset. When you are rigidly trying to stick to a plan or achieve a goal, and things don’t go according to plan, then you feel like crap and things can get derailed. But if you have a more flexible mindset, and think, “I might not be able to go according to plan but that’s OK because things change,” then it’s not a disaster when you get off track. There’s no single track that you have to stay on.

I came to realize that every attempt is about learning. When you fail, that’s actually really good information. Before you failed, you thought that something would work (a prediction), but then real-world information came in that told you it didn’t work. That means you now know something you didn’t know before. That’s excellent. Now you can adjust your plan, figure something new out, try a new method. Keep learning.

I ask for help. When I’m struggling with something, I know that I can either give up, or I can figure out a better way. But it’s not always easier to figure out a better way, so I reach out to my wife, friends, trusted family members, and I ask them. They might give me simple, obvious, why-didn’t-I-see-that advice that I need, or brilliant tips, or accountability. Whatever happens, my friends and loved ones never seem to fail me.

I give myself a break. If I’m struggling, sometimes my mind or body just needs a break from the discipline. So I’ll take a day or two off, or a week, or even more. There’s no set time that’s right for every situation, so I’ve been learning to go by feel. For some things, I’ve taken a month or two off from trying to learn something.

I remind myself why it’s important. It’s easy to give up on something, because not doing it is always easier. But giving up means you’re losing something important, like helping someone, and so if my reasons for doing something aren’t just selfish (pleasure, vanity), then I will renew my vigor for the struggle. This alone is often enough to get me going again, especially if I’m doing it to help someone important, like my kids.

I realize that I’m far from perfect, and that the guilty secrets I hide inside myself are no different than anyone else’s. You guys are just like me, in the inside, and while we all share the commonality of failing to live up to our better nature, we also share the bond of being able to start again.
So start again.

How Apple train its employees

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Everything about Apple is unique..Its culture, products, design philosophy, simplicity, perfection the list and the adjectives can be endless. To ingrain the culture, Apple has in house training programme, rarely talked about in media..Not much of material is available, except rumours and hear say…Recently, New York Times, got a glimpse of what and how of Apple University...Its interesting read….

What I Learned Watching 150 Hours of TED Talks 500+ by Carmine Gallo

Posted on Leave a commentPosted in Learning, Thinking

images

What makes for a great presentation — the kind that compels people’s attention and calls them to action?  TED talks have certainly set a benchmark in recent years: HBR even asked Chris Anderson, the group’s founder, to offer lessons drawn from the three decades he’s run TED’s signature events in an article published last summer.

But experience and intuition are one thing; data and analysis are another. What could one learn by watching the most successful TED talks in recent years (150 hours’ worth), talking to many of the speakers, then running the findings by neuroscientists who study persuasion?  I did just that, and here’s what I learned:

Use emotion. Bryan Stevenson’s TED talk, “We need to talk about an injustice”, received the longest standing ovation in the event’s history. A civil rights attorney who successfully argued and won the Supreme Court case Miller v. Alabama, which prohibits mandatory life sentences without parole for juveniles convicted of murder, this is a man who knows how to persuade people.

I divided the content of his talk into Aristotle’s three areas of persuasion. Only 10 percent fell under “ethos” (establishing credibility for the speaker); 25 percent fell into the “logos” category (data, statistics) and a full 65 percent was categorized as “pathos” (emotion, storytelling). In his 18-minute talk, Stevenson told three stories to support his argument. The first was about his grandmother, and when I asked him why he started with it, his answer was simple: “Because everyone has a grandmother.” The story was his way of making an immediate connection with the audience.

Stories that trigger emotion are the ones that best inform, illuminate, inspire, and move people to action. Most everyday workplace conversations are heavy on data and light on stories, yet you need the latter to reinforce your argument. So start incorporating more anecdotes – from your own experience or those about other people, stories and brands (both successes and failures) – into your pitches and presentations.

Be novel. We all like to see and hear something new. One guideline that TED gives its speakers is to avoid “trotting out the usual shtick.” In other words, deliver information that is unique, surprising, or unexpected—novel.

In his 2009 TED presentation on the impact of malaria in African countries, Microsoft co-founder and philanthropist Bill Gates shocked his audience when he opened a jar of mosquitoes in the middle of his talk. “Malaria, of course, is transmitted by mosquitoes,” he said. “I brought some here so you can experience this. I’ll let these roam around the auditorium. There’s no reason why only poor people should have the experience.” He reassured his audience that the mosquitoes were not infected – but not until the stunt had grabbed their attention and drawn them into the conversation.

As neuroscientist Dr. A.K. Pradeep confirms, our brains can’t ignore novelty. “They are trained to look for something brilliant and new, something that stands out.” Pradeep should know. He’s a pioneer in the area of neuromarketing, studying advertisements, packaging, and design for major brands launching new products.

In the workplace your listener (boss, colleague, sales prospect) is asking him or herself one question: “Is this person teaching me something I don’t know?” So introduce material that’s unexpected, surprising or offers a new and novel solution to an old problem.

Emphasize the visual. Robert Ballard’s 2008 TED talk on his discovery of the Titanic, two and a half miles beneath the surface of the Atlantic, contained 57 slides with no words. He showed pictures, images, and animation of life beneath the sea, without one word of text, and the audience loved it. Why did you deliver an entire presentation in pictures? “Because I’m storytelling; not lecturing,” Ballard told me.

Research shows that most of us learn better when information is presented in pictures andtext instead of text alone. When ideas are delivered verbally—without pictures—the listener retains about 10% of the content. Add a picture and retention soars to 65%.

For your next PowerPoint presentation, abandon the text blocks and bullet points in favor of more visually intriguing design elements. Show pictures, animations, and images that reinforce your theme. Help people remember your message.

Source : HBR.org

Effective ways to conduct meetings…Learn from Masters

Posted on Leave a commentPosted in Interesting Idea, Learning

My summary reading of the post:
Keep meetings very short…
Talk/argue and discuss with Data.
Meetings may be informal.
Meetings are way to micro manage.
Ask question and resolve the issues.
Do not leave any issues un decided.
let people know, and be prepared.
Screw people, if they are unprepared.
Demand Accountability.
Appreciate people for good work and admonish failures.
Keep gathering small, to reach out.
Now, if you are interested read…the entire post..
——————————————————
We spend a lot of time in meetings, but we’re bad at making them effective. In a 2005 survey of Microsoft Office users, Microsoft, found that workers spend 5.6 hours each week in meetings — nearly a full work day. Another study from the London School of Economics found that CEOs are spending around 18 hours a week on meetings.

Meetings are such a fixture in our work lives that we constantly hear the same advice: have an agenda, keep it short, don’t invite too many people. However, despite the commonality of this well-meaning advice, research from Harvard suggests that half of all meetings are unproductive.

Instead of following the same old advice and getting the same results, let’s look to some of the tech industry’s most powerful leaders, whose business lives are well-documented. By looking through past interviews, we discover unique, actionable advice and learn how top Silicon Valley CEOs keep their meetings effective.

Marissa Mayer: CEO, Yahoo

 

Above: Mayer offers more of an inside look at Yahoo! in her keynote at the Great Place to Work Conference.

1. Streamline decision making with data.

Mayer believes that numbers and facts are essential to having effective meetings. She thinks of data as the great equalizer: whether you’re an intern or a VP, you can have your way as long as you have the data to prove your claims. By making decisions with metrics, she can avoid lengthy debates stemming from opinions and organizational politics. Businessweekoffered a peek into Mayer’s process:

Mayer discourages using the phrase “I like” in design meetings, such as “I like the way the screen looks.” Instead, she encourages such comments as “The experimentation on the site shows that his design performed 10% better.”

A caveat: while dependence on data can speed up decision-making, it can also turn off teammates who work with qualitative information. Mayer alienated her designers when she tested 41 variations of blue in order to get the optimal color for an element on a webpage.

2. Ask questions to resolve problems once and for all.

Mayer relentlessly asks follow-up questions to ensure that her team isn’t working from poorly sourced data or assumptions. Faulty assumptions can lead to backtracking on previous decisions down the road, which means wasted time, resources and more meetings. In Mayer’s world, assumptions have no place in meetings, and if you’re not ready to back up your claims, you’re not ready to present your ideas.

Mayer’s expects her team to be able to confidently answer her questions. From Business Insider:

A designer or a top product manager would sit down and Mayer would assault them with a series of questions:
“How was that researched?”
“What was the research methodology?”
“How did you back that up?”

3. Use the micro-meeting.

While at Google, Mayer averaged 70 meetings per week. How did she manage all these meetings while still getting her own work done?

Mayer uses the micro-meeting: she allows people to book meetings as short as 10 minutes. Just because your calendar program defaults a meeting to 30 minutes, that doesn’t mean you need 30 minutes. An uninterrupted 30-minute block in her calendar is rare, so if you really need to speak to Mayer about something, make it quick.

There’s an adage in project management: work expands to the time you schedule for it. By pushing people to say what they need to say in 10 minutes, Mayer was able to meet more people in less time.

Elon Musk: CEO, Tesla / CEO & CTO, SpaceX

 

Above: Kevin Rose interviews Elon Musk about his path from South Africa to co-founding PayPal, Tesla, and SpaceX.

1. Argue with facts, not experiences.

To Musk, decisions should not be based on prior experiences. He encourages thinking based on “first principles” — boiling a situation down to its basic, fundamental truths and then reasoning up from there.

An example of first principles thinking: when Musk was estimating the cost of building the first SpaceX rockets, he could have simply used comparable products on the market as a benchmark. Making decisions using “common knowledge” is the antithesis of first principles thinking. Instead, his team analyzed the necessary parts of a rocket, then researched the prices of the raw materials of parts firsthand. As a result, the SpaceX team was surprised to learn that they could build a rocket that cost “around two percent of the typical price.”

Making decisions using “common knowledge” is the antithesis of first principles thinking.

In meetings, arguing with facts and first principles takes a lot more mental energy, but doing so can improve the quality of your decisions. By looking at a situation from the bottom up, Musk prevents intellectually lazy arguments like “well, that’s how much a rocket costs” or “that’s how we did it at NASA.”

2. Challenge your team to be ultra-prepared.

As CEO of two industry-changing companies like Tesla and SpaceX, Elon Musk works nearly seven days a week, with his hands in nearly every part of each business. As a result, he is a subject matter expert in nearly all aspects of his companies. This pushes his employees to be thoroughly prepared for meetings. An anonymous Musk employee weighed in on Quora:

When we met with Elon, we were prepared. Because if you weren’t, he’d let you know it. If he asked a reasonable follow up question and you weren’t prepared with an answer, well, good luck…

Musk leads by example by consistently bringing his A-game to meetings, setting the standard for everyone to follow. As a boss, you don’t need to work seven days a week, but know that your perceived work ethic sets the tone for the whole company to follow. Stay sharp at your meetings and your employees will take your cue.

3. Remind them of the long-term vision.

After SpaceX experienced the third failed launch of Falcon 1, the pressure was mounting on the company. Musk knew that they had to quickly get back on their feet and deliver a successful fourth launch as soon as possible.

Musk addressed his overworked, demoralized and disappointed team in a meeting, then immediately got them to work even harder to deliver a nearly flawless launch less than two months later. How did he do it? In that pivotal meeting, he simply reiterated SpaceX’s goal: to launch a rocket into orbit. He emphatically promised them victory, saying “for my part, I will never give up, and I mean never.” Within hours, the team started working on the solution.

This was a critical moment in perhaps the most important meeting in the young company’s history. Musk knew that he had to remind everyone of what they were working toward, energizing his team and giving them the focus to complete the difficult tasks that lay ahead.

When working on large projects, teams can sometimes get caught in the weeds and forget how their work ties into the bigger picture. Smart leaders like Musk know when they need to step into a meeting to give their teams a much-needed shot in the arm.

Teams can sometimes get caught in the weeds and forget how their work ties into the bigger picture.

Steve Jobs: Former CEO, Apple

1. Make your meetings informal, constant events.

Like Musk, who has his fingers in every part of his companies, Entrepreneur Magazine tells us that Steve Jobs liked to be constantly kept in the loop:

“At Apple, because quality is stressed over quantity, meetings are informal and visible progress is made on a weekly — if not daily — basis. Keeping your team in sync is not something you do once a week. It’s something you do every day.”

We know that Jobs aimed to run Apple “like a startup” — these meetings were not to micromanage his leadership team, it was because he wanted to have insights into all aspects of the business.

Go ahead and take a page out of his playbook: have a weekly meeting where you walk through the whole business. Don’t make any big changes to the agenda. In an interview withCNN, Jobs explained his reasoning:

“I want [my employees] making as good or better decisions than I would. So the way to do that is to have them know everything, not just in their part of the business, but in every part of the business.”

2. Keep meetings as small as possible.

Jobs had a disdain for meetings that had too many people. He wanted people to be working, not passively sitting in a boardroom. If people didn’t have a lot to contribute, they’re better off spending time somewhere else.

During a weekly meeting with Apple’s ad agency, Jobs surveyed the room and found someone that did not normally attend. After asking who she was, he curtly replied, “I don’t think we need you in this meeting” then went back to his agenda without skipping a beat. But he also applied this standard to himself when faced with overpopulated meetings. Invited by President Obama to a meeting with other tech luminaries, Jobs famously declined because he felt that the invitation list had grown too long.

He had zero tolerance for spectators, even if that spectator was himself. Everyone in the meeting has to be an essential participant who can add value.

Invited by President Obama to a meeting with other tech luminaries, Jobs famously declined.

3. Hold people publicly accountable.

Like other companies, meetings at Apple end with next steps. When Apple employees divide up action items in a meeting, each task is assigned to a D.R.I. — a directly responsible individual. By making someone publicly accountable for the task, it can increase the pressure to ensure the task is completed by the next meeting.

Since meetings happen frequently, and the teams are smaller, the spotlight shines brighter on the people who own tasks. This public accountability is one of the ways Apple teams push people to perform at a higher level.

Lack of clear ownership can wreak havoc on projects, especially when it comes to large, multi-disciplinary teams. Having a D.R.I. for every task, however minor, ensures that all meeting action items get completed.

***

How about you?

How do you run an effective meeting?

 Source : 99u.com

Walter Isaacson: 5 Traits of True Geniuses

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As the biographer to Benjamin Franklin, Albert Einstein, and Steve Jobs, Isaacson knows a thing or two about geniuses. Here’s what he’s learned.

People tend to think of geniuses as singular and incomparable characters, who can’t be categorized or likened to anyone else. That’s partly true, but according to Walter Isaacson, the former CNN chairman who has written biographies on Benjamin Franklin, Albert Einstein, and, most recently, Steve Jobs, there are certain character traits that geniuses do tend to share.

On stage at New York City’s 92nd St. Y Sunday night, Isaacson kicked off the inaugural “7 Days of Genius Festival” by sharing his thoughts on what he believes, having studied the lives of three of the world’s biggest thinkers, are the markings of true genius.

Here’s what he said:

1. They have a passion for perfection.

The most important thing to know about true genius, Isaacson said, is that it’s not simply analogous to intellect. “At a certain point in your life, it becomes apparent that smart people are a dime a dozen. What really makes someone special is if they’re imaginative. If they think different,” Isaacson said.

One of these differences is that geniuses–Steve Jobs’ is a great example–tend to be obsessive perfectionists. To illustrate this point, Isaacson told the story of the time during Jobs’ childhood when he was building a fence with his father. His dad, an auto mechanic, told Jobs at the time that it was important to make the back of the fence as beautiful as the front. When a young Jobs asked his father why that was, since no one would know the difference anyway, his father replied, “But you will know.”

That’s a lesson Jobs carried through his career at Apple, painstakingly poring over even the hidden details, like the circuit boards in the original Macintosh computer. And that, Isaacson says, is one reason why Jobs was a genius. “A real artist cares even about the parts unseen,” he said. That’s also why he managed to build such a lasting and world-changing company. “A lot of companies keep their eye on making a profit,” Isaacson said. “If you really want to make a company that will survive, you focus on making good products. If you care about making good products, eventually, profits will follow.”

2. They love simplicity.

The beauty of Apple products is, of course, their simplicity, which Isaacson says is another obsession of true geniuses. When Jobs was first working on the iPod, he was fixated on ensuring that it would only take three clicks to get to any song in the iPod library. “He told the team, ‘Don’t show it to me, until you can get it in three clicks,'” Isaacson said. Out of that desperation to keep things simple, the team came up with the expertly designed wheel, that allowed users to scroll, rather than click, through songs.

The wheel met Jobs’ standard for simplicity. The large on/off button, however, did not. “Steve said, ‘Why do we need that?'” The answer, as we now know, was that the iPod didn’t need an on/off switch, but could power itself up and down on its own.

3. They make other people do what they never thought was possible.

“Steve was a real jerk to work with, but he gathered around him the most loyal people, because he drove them to do things they didn’t know they could do,” said Isaacson. Jobs’ trick was not giving into other people’s hesitations and self doubts. Instead, when employees or colleagues claimed that a task was impossible, Jobs would just stare at them and say, “Don’t be afraid. You can do it.” It’s the tactic he used to convince his team that they could shave 10 seconds off the boot up time for the original Macintosh. In the end, despite initially considering it impossible, the Apple team members shaved a full 28 seconds off the boot up time. “Steve could drive people crazy,” Isaacson said, “but also drive them to do things they never knew they could do.”

4. They challenge other geniuses.

It was Albert Einstein who taught Isaacson this genius trait. Einstein came along, of course, centuries after Sir Isaac Newton, another great mind whose theories were respected by the rest of the scientific community in Einstein’s time. But it was only in challenging one of Newton’s theories, Isaacson says, that Einstein stumbled upon the theory of relativity.

“Newton says time marches along second by second, irrespective of how we observe it,” Isaacson said. Einstein, however, refused to take that theory at face value, and instead, developed the theory that time is, in fact, relative to our state of motion. “That ability to think different, and think out of the box, that’s what made him Einstein,” says Isaacson.

5. They appreciate diversity.

Ben Franklin, Isaacson says, possessed a quality that people may not typically associate with the word genius. His genius, says Isaacson, was tolerance. “He understood if you create a socety with great diversity and everyone is tolerant, it will be stronger,” Isaacson said.

With that tolerance, comes humility and the ability to humble yourself to other peoples’ opinions. “Most creativity comes from a group of people who play off each other, who cover each others’ weaknesses, and amplify each others’ strengths,” Isaacson said. “Over and over again you see Franklin’s wisdom, which is bringing people together. That’s part of his genius.”

Courtesy : inc.com

Power Struggle :How to get even with your boss : Facebook –

Posted on Leave a commentPosted in Interesting Idea, Learning

In corporate world, as in day to day business dealings, particularly  with financial matters or in hardcore negotiations, there always a palpable struggle and simmering tension between the departments/people. On one hand, finance always tries to cut down the slack and on other hand marketing paints very rosy picture about need for spending money.

At times, people play game of one umpanship. Its fascinating to learn, how Facebook COO (Sheryl Sandberg) and CFO (David Ebersman) cut each other, live on stage. Its incredulous  yet very interesting to know, how to get even, with your boss without being rude. Only time will tell what happens next, but at least we can appreciate the american culture of openness. Below is the excerpt of recent conversation between them.

sheryl-sandberg-on-jon-stweart-1

Facebook COO Sheryl Sandberg and CFO David Ebersman took the stage to discuss Facebook’s advertising business at the Goldman Sachs Technology and Internet Conference in San Francisco on Monday night.

There was a funny moment between them that perfectly encapsulated the power struggle that every exec has with the the purse-string holder. Ebersman was being asked by the Goldman Sachs interviewer about how he decides to pay for Facebook’s new projects because that stuff “costs money.”

Sandberg interrupted, saying, “David never asks us about that. He’s always like ‘No.'”

The audience laughed and the question was posed again. Ebersman said with a smile, “I have to digest Sheryl’s insult first.”

ebersman-1

 

Later in the conversation, Sandberg, clearly trying to make it up to Ebersman, told another story, and he was able to slam her back:

I remember when David joined four and half years ago and he wanted to do a three-year budget. We looked at him like he was insane. I’ll be glad if I could predict three weeks. … But he got me there by saying ‘We’re going to do it as hackathon project.’ We have these hackathons where people stay up all night.

It’s the first and only one I’ve ever done in my six years at Facebook.

I went home at like 10:30, which was late for me. By morning we actually had a draft of something that became a really rigorous three-year budget.

To which Ebersman responded: “I’m tempted not to mention that the hackathon started at 9.”

In other words, Sandberg skipped out pretty quickly, which defeats the purpose of a hackathon.

“I still had to stay up past my bedtime, but it’s true I only stayed for an hour-and-a-half.  I gave great insight in that hour-and-a-half,” she joked.

Courtesy : Businessinsider.com