Posts Tagged ‘Life’

Talent or Hard Work?

// November 30th, 2011 // No Comments » // Life

Recently I got an email with this article and comments. I thought it would be interesting to share and get the views of others:

I read this interesting study on whether talent or hard work counts for the most in achieving success. of course, hard work won out over talent. Here are some excerpts:

People of great accomplishment tend to be highly intelligent. Yet, the view that creative geniuses accomplish more on account of their inherent ability does not stand up. When intellectually gifted children were followed up in middle age, their creative achievements were astonishingly small according to a celebrated study by Lewis Terman. High intelligence may be necessary for creative accomplishment but it is clearly not sufficient. Achievement in most creative fields calls for a lot of work and effort. Mastery requires many years of single-minded pursuit. Music and performance arts are something of an exception where child stars emerge much more quickly thanks, presumably, to specialized talents with which they may indeed be born given that musical ability runs in families. For most other endeavors, achievement is 99% perspiration and 1% inspiration.

The concept of genius is nothing but comforting fiction. For it helps explain why most of us do not achieve at the highest level in our chosen field: we are not geniuses. The trouble is that there is little compelling evidence in psychology for any such latent superiority. The concept of the genius may be comforting to the rest of us. Yet, it remains a fiction. 

But the following excerpts on IQ and financial success were also very interesting:

An interesting article by the economist Garett Jones of George Mason University on “National IQ and National Productivity,” essentially shows that a nation’s intelligence level is associated with a number of important economic outcomes. (Me: hence what is happening in Ja. with our educational abyss within the general population.) In the article, Jones stresses that “policymakers should include measures of national average IQ when reporting a nation’s level of human development” as at present no nation appears to do so. He also points out that one way of raising a nation’s IQ level is to allow smarter immigrants into the country. (Me: This is not a new concept, for years company’s have sought the brightest employees that they can get to increase their growth and profitability. Look at Apple. Or even IBM, worldwide as here in Ja., which has kept IBM relevant.)

Now psychologists Heiner Rindermann of Chemnitz University of Technology and James Thompson of University College London have published a paper in the journal Psychological Science on the concept of “Cognitive Capitalism: The Effect of Cognitive Ability on Wealth, as Mediated Through Scientific Achievement and Economic Freedom.” The authors examined cognitive ability datasets from over 90 countries to show that average IQ is essentially the decisive factor of human capital and that it is really the top 5% of a country’s population – or the smart fraction - that largely impacts a nation’s wealth. The authors write that “Cognitive ability influences wealth through its effects on high achievement …” (Me: that is high achievers are generally smarter people. As the first paragraph says: People of great accomplishment tend to be highly intelligent.)

Dr. Rindermann told me that because the modern cognitive demands of work and everyday life are growing, essentially “wealth has become cognitive wealth,” and in particular “high ability wealth” or the smart fraction of the population is what matters.  It is the absolute ability level of this fraction of the population that makes the difference (to a country’s wealth).

The article then goes on to speak of China — with a larger ‘smart fraction’ of people — as compared to the USA and the inevitable outcome.

Do you agree?

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12 Dozen places to educate yourself online

// November 10th, 2011 // No Comments » // Cool Stuff, Life

Just a quick post sharing a link my friend @skreech2 sent me recently.

http://www.marcandangel.com/2010/11/15/12-dozen-places-to-self-educate-yourself-online/

It features 12 dozen places to educate yourself online. Personally I am a fine of MIT’s Open Courseware, but the link lists several other sources covering:

  • Science and health
  • Business and money
  • History and world culture
  • Law
  • Computer science and engineering
  • Mathematics
  • English and communication
  • Foreign and sign languages
  • Plus More

Hope you enjoy!

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How’s The Economy? Ask the Bank

// November 5th, 2011 // 1 Comment » // Technology

I speak to my Grandfather who now lives in the US regularly and he always asks me how things are in Jamaica. Now I am no economist but I do like to analyse possible sources of data. While thinking about it the other day I realised that the banks more or less know the state of the economy before anyone else. Let’s look at the channels:

Debit and Credit Card Spending Data

Customer Address Data

Customer Cash Flow Data

Customer Salary Data and Company Payroll Uploads

Merchant Machines

Customer Loan Data

ATM Locations and transaction data

Most people bank with a single bank, so do most companies. Regardless of that fact, thanks to ATM’s, merchant machines and loans, banks have some access to other bank’s client info. I am not sure if banks already do this, but say you want a small business loan to open a business in an area. You provide a business plan to the bank outlining your target market and projections. The bank could run a report detailing similar businesses that their customers have bought from in the area, how many of their customers in the area match your target market and the spending power of people in the area based on ATM withdrawals.

Ever heard of Foursquare? It allows businesses to see who checked into their venue, great for customer service, but suppose the bank could provide you with a report on where your customers came from based on addresses linked to credit and debit cards? That info requires no user input besides their normal purchase. It could also show how often they come, how much they spend etc. This data is so valuable and can be shared without infringing on an individual’s privacy (as long as names and exact areas are not shared).

Currently some stores keep customer accounts which partially gives them this information, but what is the incentive for users to sign up? The more user input needed the lower the success rate of collecting the data. I also think individuals should be able to run reports on their spending habits. I try to carry cash as little as possible, so most transactions are done using plastic. Why can’t I run a report on where I spent the cash by category (food, auto, utilities) and where in the island or overseas (online vs. local). I should even see ads on my online banking showing me similar stores closer to my home (so I can save money and time travelling).

Overall Banks can provide reports based on industries and cash flow across the country based on their customer data. It’s what they use to decide where to install an ATM or new branches, it would just be nice to use it for other things as well.

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Free Idea: What is your HWT Street Hustle

// October 31st, 2011 // No Comments » // Technology

How many of you have heard the song Street Hustle by Specialist? If you haven’t I have embedded it below.

I like it because it captures the street hustle mentality in Jamaica. Which brings me to my idea. While waiting  by Pavilion Mall in Half Way Tree, Kingston, Jamaica yesterday I saw trends. I was intrigued at the diversity of people walking around and as usual thought to myself what would I sell to suit the different groups. So then came up with an idea for a website or fb app for people to input data (their personal preferences) and an algorithm would decide what they would sell based on what products they use and their personality.

Personality questions would decide how much risk a person is willing to take and if they are looking for a long term or short term hustle. The products they use determine what they would sell preferably, because why would you sell a product that you wouldn’t use or endorse?

So if you use a lot of phone cards and drink soda, the app should recommend you sell soda and phone cards in HWT. However if you believe in health foods and need a hustle you can sell callaloo, banana chips and bag juices. Alternatively if you want to get rich quick then it may suggest you run a “cash fi gold” scheme. I think it would be fun, hilarious and share friendly once the algorithm and interface is well designed. No two people should get the same result once you include a wide range of products. Don’t forget to include social media share buttons!

I get ideas all the time and most I don’t have time to develop. Ideally I would like to give away an idea once a week for others to develop. It should be a crime for a “good” idea to go to waste. Good idea of course is based on opinion. If you use it please let me know!

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How to deal with deceased friends on Facebook and Twitter

// February 7th, 2011 // No Comments » // Life, Technology

Earlier today while inviting friends to a new Facebook Page I had created I was once again faced with the profiles of my deceased friends. At first I didn’t know what to do and asked friends on Facebook. After doing some research I found the following links: logo facebook A blogpost by Max Kelley:

….The question soon came up: What do we do about his Facebook profile? We had never really thought about this before in such a personal way. Obviously, we wanted to be able to model people’s relationships on Facebook, but how do you deal with an interaction with someone who is no longer able to log on? When someone leaves us, they don’t leave our memories or our social network. To reflect that reality, we created the idea of “memorialized” profiles as a place where people can save and share their memories of those who’ve passed. We understand how difficult it can be for people to be reminded of those who are no longer with them, which is why it’s important when someone passes away that their friends or family contact Facebook to request that a profile be memorialized. For instance, just last week, we introduced new types of Suggestions that appear on the right-hand side of the home page and remind people to take actions with friends who need help on Facebook. By memorializing the account of someone who has passed away, people will no longer see that person appear in their Suggestions. When an account is memorialized, we also set privacy so that only confirmed friends can see the profile or locate it in search. We try to protect the deceased’s privacy by removing sensitive information such as contact information and status updates. Memorializing an account also prevents anyone from logging into it in the future, while still enabling friends and family to leave posts on the profile Wall in remembrance……

The form for reporting a deceased friend on Facebook here: http://www.facebook.com/help/contact.php?show_form=deceased twitter logo Twitter handles it similarly by requesting that you email them, but they close down the account:

If we are notified that a Twitter user has passed away, we can remove their account or assist family members in saving a backup of their public Tweets. Please contact us with the following information:

  1. Your full name, contact information (including email address), and your relationship to the deceased user.
  2. The username of the Twitter account, or a link to the profile page of the Twitter account.
  3. A link to a public obituary or news article.

You can contact us at privacy@twitter.com, or by mail or fax: Twitter Inc., c/o: Trust & Safety 795 Folsom Street, Suite 600 San Francisco, CA 94107 Fax: 415-222-9958 We will respond by email with any additional information we might need. Please note that we cannot allow access to the account or disclose other non-public information regarding the account.

Now that I know what I need to do, I just need to face the music and submit as necessary :( R.I.P.

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