12/23/2024

Starting a new book! Value First, Then Price: Building Value-Based Pricing Strategies by Andreas Hinterhuber (editor), Todd C Snelgrove (Editor)

Starting a new book! Value First, Then Price: Building Value-Based Pricing Strategies by Andreas Hinterhuber (editor), Todd C Snelgrove (Editor) "...Value-based pricing – pricing a product or service according to its value to the customer rather than its cost – is the most effective and profitable pricing strategy. Value First, Then Price is an innovative collection that proposes a quantitative methodology to value pricing and road-tests this methodology through a wide variety of real-life industrial and B2B cases. This book offers a state-of-the art and best practice overview of how leading companies quantify and document value to customers. In doing so, it provides students and researchers with a method by which to draw invaluable data-driven conclusions, and gives sales and marketing managers the theories and best practices they need to quantify the value of their products and services to industrial and B2B purchasers. The 2nd edition of this highly-regarded text has been updated in line with current research and practice, offering three new chapters covering new case studies and best practice examples of quantified value propositions, the future of value quantification, and value quantification for intangibles. With contributions from global industry experts this book combines cutting edge research on value quantification and value quantification capabilities with real-life, practical examples. It is essential reading for postgraduate students in Sales and Marketing with an interest in Pricing Strategy, sales and pricing specialists, as well as business strategists, in both research and practice. ..." https://www.goodreads.com/book/show/59858279-value-first-then-price?ac=1&from_search=true&qid=zhnvkchD61&rank=3

- Pedro

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12/14/2024

The world ahead 2025 - Economist

The world ahead 2025 from the Economist. A must read, more on it in the near future. https://www.economist.com/topics/the-world-ahead-2025

- Pedro

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12/11/2024

Finalized Win, Keep, Grow: How to Price and Package to Accelerate Your Subscription Business by Mark Stiving - My Book Rating - 4/5

Finalized Win, Keep, Grow: How to Price and Package to Accelerate Your Subscription Business by Mark Stiving My Book Rating - 4 / 5 (Qualitative - “Really Liked it”) BOP#2 - Book Club A concise and highly insightful book on thinking and managing subscription businesses. It offers numerous valuable insights that I’ll carry into my professional life—not only for subscription businesses but also for broader applications, such as Internal Transfer Pricing within Management Performance Systems. These concepts have direct relevance to various organizational areas. I plan to publish a more detailed review in the near future—or at least, I hope to! https://www.goodreads.com/review/show/7061305482

- Pedro

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12/08/2024

Books added to the Library throughout November'24

Throughout November’24 I have added 6 books to my library. Hopefully, you can also find 1 or 2 for your own library!

The selection rules were:

  • the book had to be recommended by someone directly or by an article I have read or a podcast I have listened.

the book should be less than €5 (usually via Kindle -promotions- or 2nd hand) or part of the reading list of a book club that I’m a member.

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1- La psicología del dinero: Cómo piensan los ricos: 18 claves imperecederas sobre riqueza y felicidad, Morgan Housel (Author), Arnau Figueras Deulofeu (Translator)

“…En cuestiones de dinero, lo que importa no es lo listo que seas sino cómo te comportas. Tendemos a pensar en la inversión o la gestión de las finanzas personales como una disciplina matemática, en la que los datos y las fórmulas nos dicen exactamente qué hacer. Sin embargo, el rasgo que define a las personas que logran enriquecerse no es su destreza con los números, ni su salario o su talento, sino su historia personal, sus motivaciones y su visión única del mundo.

Un genio que pierde el control de sus emociones puede ser un desastre financiero. Y lo mismo vale en caso contrario: gente de a pie sin formación en finanzas puede enriquecerse si cuenta con unos cuantos patrones de comportamiento. Esto, impensable en otras disciplinas como la arquitectura o la medicina, es fundamental en el campo de las finanzas.

Este libro, llamado a convertirse en un clásico de las finanzas personales, nos provee del conocimiento esencial para entender la psicología del dinero y nos invita a hacernos una pregunta fundamental que raramente nos hacemos, cuál es nuestra relación con el dinero y qué queremos realmente de él.

A partir de 18 claves imperecederas, Morgan Housel nos enseña cómo funciona la psicología del dinero y cuáles son los hábitos y conductas que nos ayudarán no solo a generar riqueza, sino, más importante aún, a conservarla…”

2- Hack Your Bureaucracy: Get Things Done No Matter What Your Role on Any Team, Marina Nitze (Author), Nick Sinai (Author)

“,,,Whether you just started your first entry-level job, run the entire company, or just feel trapped by your condo association bylaws, it's time to learn how to get big things done and make a lasting impact with Hack Your Bureaucracy.

From local government to the White House, Harvard to the world of venture capital, Marina Nitze and Nick Sinai have taken on some of the world's most challenging bureaucracies—and won. Now, they bring their years of experience to you, teaching you strategies anyone can use to improve your organization through their own stories and those of fellow bureaucracy hackers, including:

Find Your Paperclip: use small steps to achieve big change

Set Your North Star: keep your end goal in sight

Cultivate the Karass: assemble an adept team and network

Don't Waste a Crisis: turn every opportunity into a chance for change

And more!

Change doesn't happen just because the person in charge declares it should, even if that person is the CEO of your company or the President of the United States. Regardless of your industry, role, or team, Hack Your Bureaucracy shows how to get started, take initiative on your own, and transform your ideas into impact…”

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3-Vietnam: An Epic Tragedy, 1945-1975, ir Max Hastings (Author)

“…Vietnam became the Western world’s most divisive modern conflict, precipitating a battlefield humiliation for France in 1954, then a vastly greater one for the United States in 1975. Max Hastings has spent the past three years interviewing scores of participants on both sides, as well as researching a multitude of American and Vietnamese documents and memoirs, to create an epic narrative of an epic struggle. He portrays the set pieces of Dienbienphu, the 1968 Tet offensive, the air blitz of North Vietnam, and also much less familiar miniatures such as the bloodbath at Daido, where a US Marine battalion was almost wiped out, together with extraordinary recollections of Ho Chi Minh’s warriors. Here are the vivid realities of strife amid jungle and paddies that killed two million people.

Many writers treat the war as a US tragedy, yet Hastings sees it as overwhelmingly that of the Vietnamese people, of whom forty died for every American. US blunders and atrocities were matched by those committed by their enemies. While all the world has seen the image of a screaming, naked girl seared by napalm, it forgets countless eviscerations, beheadings, and murders carried out by the communists. The people of both former Vietnams paid a bitter price for the Northerners’ victory in privation and oppression. Here is testimony from Vietcong guerrillas, Southern paratroopers, Saigon bargirls, and Hanoi students alongside that of infantrymen from South Dakota, Marines from North Carolina, and Huey pilots from Arkansas.

No past volume has blended a political and military narrative of the entire conflict with heart-stopping personal experiences, in the fashion that Max Hastings’ readers know so well. The author suggests that neither side deserved to win this struggle with so many lessons for the twenty-first century about the misuse of military might to confront intractable political and cultural challenges. He marshals testimony from warlords and peasants, statesmen and soldiers, to create an extraordinary record. …”

4-The Color Purple, Alice Walker (Author)

“,,,Separated as girls, sisters Celie and Nettie sustain their loyalty to and hope in each other across time, distance and silence through a series of letters spanning twenty years, first from Celie to God, then the sisters to each other despite the unknown.

Abused repeatedly by the man she calls 'father', Celie has two children taken away from her and is trapped into an ugly marriage. But then she meets the glamorous Shug Avery, singer and magic-maker - a woman who has taken charge of her own destiny.

And gradually Celie discovers the power and joy of her own spirit, freeing her from her past and reuniting her with those she loves.

Beloved by generations of readers, The Color Purple broke the silence around domestic and sexual abuse, narrating the lives of women through their pain and struggle, companionship and growth, resilience and bravery. Deeply compassionate and beautifully imagined, Alice Walker's epic carries readers on a spirit-affirming journey towards redemption and love. …”

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5-The Six Disciplines of Strategic Thinking: Leading Your Organization into the Future, Michael D. Watkins (Author)

“…Pattern recognition. Systems perspective. Mental agility. Structured problem-solving. Visioning. Political savvy. For every good leader who has mastered of one of these disciplines is a great leader who knows and has mastered all of them.

Michael D. Watkins, an expert on leadership transitions and organizational success, returns to the page with a new how-to guide for the modern leader. Here, he presents the six disciplines that separate the great from the good. Developed over the course of his storied career, Watkins’ approach to strategic thinking—"a set of mental disciplines leaders use to recognize potential threats and opportunities, establish priorities, and mobilize themselves and their organizations to envision and enact promising paths forward”—is the model followed by some of today’s most successful first-time CEOs and new business leaders.

The Six Disciplines of Strategic Thinking is a comprehensive and practical guide to strategic thinking, offering a wealth of insights and tools for leaders at all levels…”

6-Judgment at Tokyo: World War II on Trial and the Making of Modern Asia, Gary J. Bass (Author)

“…In the weeks after Japan finally surrendered to the Allies to end World War II, the world turned to the question of how to move on from years of carnage and destruction. For Harry Truman, Douglas MacArthur, Chiang Kai-shek, and their fellow victors, the question of justice seemed clear: Japan’s militaristic leaders needed to be tried and punished for the surprise attack at Pearl Harbor; shocking atrocities against civilians in China, the Philippines, and elsewhere; and rampant abuses of prisoners of war in notorious incidents such as the Bataan death march. For the Allied powers, the trial was an opportunity to render judgment on their vanquished foes, but also to create a legal framework to prosecute war crimes and prohibit the use of aggressive war, building a more peaceful world under international law and American hegemony. For the Japanese leaders on trial, it was their chance to argue that their war had been waged to liberate Asia from Western imperialism and that the court was victors’ justice.

For more than two years, lawyers for both sides presented their cases before a panel of clashing judges from China, India, the Philippines, and Australia, as well as the United States and European powers. The testimony ran from horrific accounts of brutality and the secret plans to attack Pearl Harbor to the Japanese military’s threats to subvert the government if it sued for peace. Yet rather than clarity and unanimity, the trial brought complexity, dissents, and divisions that provoke international discord between China, Japan, and Korea to this day. Those courtroom tensions and contradictions could also be seen playing out across Asia as the trial unfolded in the crucial early years of the Cold War, from China’s descent into civil war to Japan’s successful postwar democratic elections to India’s independence and partition.

From the author of the acclaimed The Blood Telegram, which was a Pulitzer Prize finalist, this magnificent history is the product of a decade of research and writing. Judgment at Tokyo is a riveting story of wartime action, dramatic courtroom battles, and the epic formative years that set the stage for the Asian postwar era. …”


Happy readings!



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12/07/2024

Visualizing Strategy: Building Blocks in Focus

A picture is worth a thousand words, and this visualization is a testament to that. It’s a great and simple representation of the strategy building blocks. In my professional life, I apply almost ipsis verbis what is depicted in this pyramid, even using the same nomenclature. (text revised by a LLM)

- Pedro

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Einstein: Del Teórico al Comprobado

Es absolutamente fantástico que todavía sigamos comprobando aquello que Einstein había previsto únicamente desde un punto de vista teórico, basándose puramente en sus premisas, conocimientos de física y matemáticas. Hay personas que han tenido (y algunas aún tienen) mentes asombrosas. No conocía lo que era el ZigZag de Einstein, pero ese video lo explica de una forma muy sencilla y clara. (texto revisado por LLM) EL PAÍS https://elpais.com/ciencia/2024-12-07/descubren-el-primer-zig-zag-de-einstein.html

- Pedro

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12/06/2024

The 2024 Best Books by the Economist → Culture and arts

The 2024 Best Books by the Economist → Culture and arts 1-All that Glitters: A Story of Friendship, Fraud and Fine Art. By Orlando Whitfield 2-The Book-Makers: A History of the Book in 18 Lives. By Adam Smyth 3-Cue the Sun! The Invention of Reality TV. By Emily Nussbaum 4-Get the Picture: A Mind-Bending Journey among the Inspired Artists and Obsessive Art Fiends Who Taught Me How to See. By Bianca Bosker 5-Gobsmacked! The British Invasion of American English. By Ben Yagoda 6-The Haunted Wood: A History of Childhood Reading. By Sam Leith 7-Origin Uncertain: Unravelling the Mysteries of Etymology. By Anatoly Liberman 8-Reading Genesis. By Marilynne Robinson 9-Stranger Than Fiction: Lives of the Twentieth-Century Novel. By Edwin Frank 10-Written in Water: The Ephemeral Life of the Classic in Art. By Rochelle Gurstein. All added to my wish list. You might find 1/2 that catches your attention. https://www.economist.com/culture/2024/11/22/the-best-books-of-2024-as-chosen-by-the-economist

- Pedro

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Starting a new book! Win, Keep, Grow: How to Price and Package to Accelerate Your Subscription Business by Mark Stiving

Starting a new book! Win, Keep, Grow: How to Price and Package to Accelerate Your Subscription Business by Mark Stiving Pricing Book Club - book #2 Win Keep Grow shares the surprising fundamentals entrepreneurs need to build and grow a subscription business. The first section of Win Keep Grow delivers a simple framework to help businesspeople understand the differences of the subscription business. The framework consists of the three revenue buckets subscription companies must manage and the 3 value levers subscription companies must master to put their offering in a position to skyrocket. The second section uses the framework to walk the reader through how managing a subscription product evolves as the product matures in the market. The third and final section prepares companies who don’t currently have a subscription product on what to expect while transitioning to one. Pricing expert Mark Stiving, Ph.D. dug deeply into the subscription business model and he was surprised at how many aha moments he had. Win Keep Grow shares his many insights with businesses who have or want to have subscription products. Readers will walk away with a deeper understanding of this business model, a process to prioritize the investment of resources, and a way to simply communicate the product’s objectives throughout their own organization. https://www.goodreads.com/book/show/58488188-win-keep-grow?ac=1&from_search=true&qid=0etkP6fW1C&rank=1

- Pedro

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12/03/2024

The 2024 best TV shows by the Economist

The 2024 best TV shows by the Economist. 1-“The Bear” 2-“Colin From Accounts” 3-“Cristobál Balenciaga” 4-“The Diplomat” 5-“The Franchise” 6-“Franklin” 7-“Hacks” 8-“Mr & Mrs Smith” (this one i started and i do no advise it :-)) 9-“Ripley” 10-“Rivals” 11-“Slow Horses” 12-“Shogun” (this one i saw and strongly advise it) 13-“True Detective” Have added them to my watchlist. https://www.economist.com/culture/2024/11/01/the-economists-selection-of-the-best-tv-of-2024

- Pedro

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Demis Hassabis and James Manyika on the Future of Artificial Intelligence

The Economist hosted an excellent subscriber event on AI, science, and society, featuring Demis Hassabis, CEO of Google DeepMind and Nobel laureate, along with James Manyika, Google's Senior Vice President of Research, Technology, and Society. The discussion offered fascinating insights into what we can expect from AGI, including the transformative opportunities it presents and the challenges it brings and it is around the corner (before 2035 creating a virtual cell…). If you have 30 minutes to spare, it’s absolutely worth your time—you won’t regret it! (text revise by a LLM) Event overview: Hear from Sir Demis Hassabis, who leads Google DeepMind and who won a Nobel prize in chemistry last month, to discuss how AI transforms science—and what is possible to be known. He is joined by James Manyika, Google’s head of research, technology and society. Our science editor, Alok Jha, will moderate the discussion. https://www.economist.com/subscriber-events/ai-science-and-society-demis-hassabis-and-james-manyika-hub

- Pedro

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12/01/2024

The 2024 Best Books by the Economist → Science and health

The 2024 Best Books by the Economist → Science and health 1-The Anxious Generation: How the Great Rewiring of Childhood Is Causing an Epidemic of Mental Illness. By Jonathan Haid 2-The Catalyst: RNA and the Quest to Unlock Life’s Deepest Secrets. By Thomas Cech 3-he Genetic Book of the Dead: A Darwinian Reverie. By Richard Dawkins 4-Gray Matters: A Biography of Brain Surgery. By Theodore Schwartz 5-More and More and More: An All-Consuming History of Energy. By Jean-Baptiste Fressoz 6-Origin Story: The Trials of Charles Darwin. By Howard Markel 7-Reentry: SpaceX, Elon Musk and the Reusable Rockets that Launched a Second Space Age. By Eric Berger. 8-Tits Up. By Sarah Thornton 9-Twelve Trees. By Daniel Lewis 10-The Underworld: Journeys to the Depths of the Ocean. By Susan Case All added to my wish list. You might find 1/2 that catches your attention. https://www.economist.com/culture/2024/11/22/the-best-books-of-2024-as-chosen-by-the-economist

- Pedro

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Your 2024 Classical Music Playlist: Curated by Tyler Cowen

Are you a fan of classical music, or are you looking to start exploring this timeless genre? If so, don’t miss this curated list by Tyler Cowen, featuring his top picks for 2024. I’m excited to dive in—it’s sure to be my playlist for the next few weeks. How about you? 1-Johann Sebastian Bach, complete cantatas, Masaaki Suzuki. 2-Beethoven, Complete Trios for Piano, Violin, and Cello, Weiss Kaplan Stumpf Trio. 3-Mishka Rushdie Momen, Reformation, keyboard works by Byrd, Gibbons, Bull, and Sweelinck. 4-Debussy Images, by Saskia Giorgini. 5-Galina Grigorjeva, Nature Morte, by Paul Hillier and the Estonian Philharmonic Chamber Choir. 6-Georg Friedrich Handel, Eternal Heaven, music director Thomas Dunford. 7-Handel, 8 Great Suites for Harpischord, by Asako Ogawa. 8-Bruce Liu, Waves, music by Rameau, Ravel, and Alkan. 9-Charles-Camille Saint-Saëns, Symphonic Poems, Le Carnaval des Animaux, other works. 10-Schubert piano trios and assorted works, by Tetzlaff, Tetzlaff, and the now departed Lars Vogt. 11- Stravinsky, The Soldier’s Tale, with Isabelle Faust and Dominique Horwitz. 12-Tchaikovsky, symphonies four and six, and orchestral music, conducted by Carlos Paita. (text revised by a LLM) https://marginalrevolution.com/marginalrevolution/2024/11/classical-music-listening-for-the-year.html

- Pedro

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11/30/2024

The Perfect Blend: Fun, Educational, and Inspiring Gifts for Kids

With Christmas fast approaching, I find myself pondering the same question as every year: What gifts can I give my kids that are not only entertaining but also educational and encourage them to broaden their horizons? I must admit, it’s not an easy question to answer. However, yesterday I came across a list that I found incredibly helpful. If you’re facing the same dilemma, take a look—you might just find the perfect pick for your little ones! 1-Beast Academy Puzzle Books https://beastacademy.com/books/puzzles1?utm_source=artofproblemsolving.com&utm_medium=referral&utm_campaign=2024_holiday_gift_guide&utm_content=ba_puzzles&croid=oeu1732952611794r0.3256738505153991&croid=oeu1732952611794r0.3256738505153991 2-The Genius Square https://www.happypuzzle.co.uk/family-puzzles-and-games/the-genius-collection/genius-square 3-The Genius Square https://www.happypuzzle.co.uk/family-puzzles-and-games/the-genius-collection/genius-square 4-Kanoodle https://www.educationalinsights.com/item-kanoodle-174-extreme 5-NY Times Games Gift Subscription https://myaccount.nytimes.com/get-started/payment?gift=true&campaignId=8FKFF&o=24990602-efeb-4118-bd79-8aecbd904b7a 6- AoPS Online Gift Certificate https://artofproblemsolving.com/store/gift-certificates.php?croid=oeu1732952611794r0.3256738505153991 7-Beast Academy Online https://beastacademy.com/online?utm_source=artofproblemsolving.com&utm_medium=referral&utm_campaign=2024_holiday_gift_guide&utm_content=ba_online&croid=oeu1732952611794r0.3256738505153991&croid=oeu1732952611794r0.3256738505153991 8-Blokus https://www.amazon.com/Mattel-Blokus-Game/dp/B079TCL3J4/ref=pd_lpo_d_sccl_1/146-6209669-6242166?pd_rd_w=frV7V&content-id=amzn1.sym.4c8c52db-06f8-4e42-8e56-912796f2ea6c&pf_rd_p=4c8c52db-06f8-4e42-8e56-912796f2ea6c&pf_rd_r=X03A1X8YQ6SCR2VSJGXY&pd_rd_wg=5cj8V&pd_rd_r=00edc589-97e5-427b-8f25-fe4f1edddfc4&pd_rd_i=B079TCL3J4&psc=1 9-LOGIC! Case Starter Set https://www.habausa.com/products/logic-case-starter-set-7 10-Math Games with Bad Drawings https://www.hachettebookgroup.com/titles/ben-orlin/math-games-with-bad-drawings-the-ultimate-game-collection/9780762499878/ 11-Azul https://www.nextmove-games.com/en/azul/azul-game/ 12-Primes https://www.amazon.com/dp/B0DFD148GK?ref=cm_sw_r_cp_ud_dp_KZXYCJ768H4WV2K9MCHE&ref_=cm_sw_r_cp_ud_dp_KZXYCJ768H4WV2K9MCHE&social_share=cm_sw_r_cp_ud_dp_KZXYCJ768H4WV2K9MCHE 13-KiwiCo Labs https://www.kiwico.com/labs 14-Makeblock mBot2: STEM Education Coding Robot Kit for AI Learning https://www.makeblock.com/products/buy-mbot2 15-LEGO® Education SPIKE™ Prime Set https://education.lego.com/en-us/products/lego-education-spike-prime-set/45678/?ef_id=Cj0KCQjw99e4BhDiARIsAISE7P80w5OrPSGct8sSqfaSGN4E1V-ULLInryfraRqZAG-e4T0rNc0GecwaApMIEALw_wcB%3AG%3As&gad_source=1&gclid=Cj0KCQjw99e4BhDiARIsAISE7P80w5OrPSGct8sSqfaSGN4E1V-ULLInryfraRqZAG-e4T0rNc0GecwaApMIEALw_wcB&mtm_campaign=GO-US-EN-BR-PS-BUY-EDUCATION-SPIKE_PRIME-SHOP-BP-EX-RN-XX&mtm_cid=MTM-H3R7-G4D2T1&mtm_content=Brand+-+General_Exact&mtm_kwd=spike+robot+lego&mtm_medium=paid-search&mtm_source=google&s_kwcid=AL%21790%213%21341433731741%21e%21%21g%21%21spike+robot+lego&s_kwcid=AL%21790%213%21341433731741%21e%21%21g%21%21spike+robot+lego#product 16-HackPack https://www.crunchlabs.com/products/hack-pack-subscription?product-handle=hp-subscription-paid-annually https://artofproblemsolving.com/resources/holiday-guide

- Pedro

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Global Ripples: Preparing for the Economic Impact of Tariffs in 2025

The saying goes, “A picture is worth a thousand words.” By analogy, a cartoon—especially one from Kal—is worth 100^{10} words. The tariffs are expected to fuel inflation in the U.S. economy, spark a trade war with no clear winners—least of all the American consumer—and create ripple effects across the globe, impacting regions such as China and Europe. However, this is no longer a question of if it will happen, but rather how significant the impact will be and how it will affect your region and industry. Have you factored this reality into your 2025 macro scenario? If so, what decisions have you made in response? (text revise by a LLM) The weekly cartoon https://www.economist.com/the-world-this-week/2024/11/28/the-weekly-cartoon from The Economist

- Pedro

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The 2024 Best Books by the Economist → Politics and current affairs

The 2024 Best Books by the Economist → Politics and current affairs 1-Autocracy, Inc: The Dictators Who Want to Run the World. By Anne Applebaum 2-Born to Rule: The Making and Remaking of the British Elite. By Aaron Reeves 3-Counter-Intelligence: What the Secret World Can Teach Us About Problem-solving and Creativity. 4-Failed State: Why Nothing Works and How We Fix It. By Sam Freedman. 5-How Tyrants Fall: And How Nations Survive. By Marcel Dirsus 6-Infantilised: How Our Culture Killed Adulthood. By Keith Hayward 7-Our Enemies Will Vanish. By Yaroslav Trofimov 8-Twenty Years: Hope, War and the Betrayal of an Afghan Generation. By Sune Rasmussen 9-World on the Brink: How America Can Beat China in the Race for the 21st Century. By Dmitri Alperovitch 10-The Year of Living Constitutionally. By A.J. Jacobs All added to my wishlist. You might find 1/2 that catches your attention. https://www.economist.com/culture/2024/11/22/the-best-books-of-2024-as-chosen-by-the-economist

- Pedro

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11/26/2024

The 2024 Best Books by the Economist → History

The 2024 Best Books by the Economist → History 1-The Eastern Front. By Nick Lloyd. 2-Every Living Thing. By Jason Roberts. 3-The Forbidden Garden. By Simon Parkin. 4.The Horse. By Timothy Winegard. 5-How the World Made the West. By Josephine Quinn. 6-Impossible Monsters. By Michael Taylor. 7-The Invention of Good and Evil. By Hanno Sauer 8-Medieval Horizons. By Ian Mortimer. 9-Nexus. By Yuval Noah Harari. 10-Raiders, Rulers and Traders. By David Chaffetz 11-Reagan. By Max Boot. 12-Revolusi. By David Van Reybrouck. 13-Smoke and Ashes. By Amitav Ghosh. 14-Spycraft. By Nadine Akkerman and Pete Langman 15-The Siege. By Ben Macintyre 16-Venice. By Dennis Romano. 17-Why War? By Richard Overy. 18-The Wide Wide Sea. By Hampton Sides. All added to my wishlist. You might find 1/2 that catches your attention. https://www.economist.com/culture/2024/11/22/the-best-books-of-2024-as-chosen-by-the-economist

- Pedro

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11/25/2024

In Search of Great Stories: A Look Ahead to 2024’s Films

I don’t know about you, but lately, I’ve been struggling to find movies that truly make me say, “What an amazing story!” Hopefully, one of the Economist’s top picks for 2024 movies will give me that aha! moment I’ve been craving. Fingers crossed! 1-“All of Us Strangers” 2-“All We Imagine as Light” 3-“Anora” 4-“Babygirl” 5-“La Chimera” 6-“Conclave” 7-“Green Border” 8-“Immaculate” 9-“Love Lies Bleeding” 10-“Monster” 11-“Nickel Boys” 12-“Perfect Days” 13-“Robot Dreams” 14-“Sasquatch Sunset” 15-“The Substance” I will let you know how it goes. (text revise by LLM) https://www.economist.com/culture/2024/11/08/the-best-films-of-2024-as-chosen-by-the-economist

- Pedro

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Dos horas con Javier Milei: Desafiando paradigmas y repensando lo público

Un podcast muy interesante que desafía el status quo en el que vivimos, con Javier Milei, Presidente de la República Argentina. Es un verdadero placer escuchar a un presidente con profundos conocimientos de economía, probablemente la ciencia social más relevante cuando se trata de gestionar lo público. Milei presenta una visión clara de lo que quiere lograr y cómo planea hacerlo. Estoy de acuerdo con muchas de sus ideas (en temas como economía, desregulación y el rol limitado del Estado en funciones que no le son inherentes), aunque discrepo en otras. Independientemente de lo que se pienses sobre Milei, creo que vale la pena invertir dos horas en escuchar este podcast. (texto revisado por un LLM) https://youtu.be/8NLzc9kobDk?si=3qjmHf2d_No1ZHKM

- Pedro

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11/24/2024

The 2024 Best Books by the Economist → Business, economics and technology

The 2024 Best Books by the Economist → Business, economics and technology 1-Business, economics and technology 2-The Art of Uncertainty. By David Spiegelhalter 3-Co-Intelligence. By Ethan Mollick 4-Dark Wire. By Joseph Cox. 5-How Economics Explains the World. By Andrew Leigh.. 6-Money. By David McWilliams 7-Playing with Reality. By Kelly Clancy. 8-The Power and the Money. By Tevi Troy. 9-Slow Productivity. By Cal Newport. 10-The Whole Story. By John Mackey. All added to my wishlist. You might find 1/2 that catches your attention. https://www.economist.com/culture/2024/11/22/the-best-books-of-2024-as-chosen-by-the-economist

- Pedro

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11/23/2024

Benoît Mandelbrot: Why Fractals and Power Laws Redefine Science and Economics

This 7-hour interview with Benoît Mandelbrot offers a captivating deep dive into his life, encompassing his childhood, upbringing, education, professional career, and groundbreaking research. It provides a thorough perspective on his unique approach to science, emphasizing the interconnectedness of various fields—mathematics, physics, economics, biology, finance, and more. Key insights I took away: Family Influence: Mandelbrot’s family played a critical role in nurturing his interest in mathematics and creating an environment for his intellectual development. Geometric Approach to Mathematics: He championed a visual, geometrical perspective over purely analytical methods. Mentorship and Collaboration: Mandelbrot’s interactions with intellectual giants such as Kolmogorov, Nabokov, Heisenberg, von Neumann, Gaston Maurice Julia, Paul Lévy, and Max Delbrück enriched his understanding across disciplines. Power-Law Distribution: While randomness in physics follows Gaussian distributions, Mandelbrot highlighted the dominance of power-law distributions in social sciences (e.g., Pareto income distribution, city sizes). Role of Private Sector: IBM provided Mandelbrot with the resources and freedom to pursue his groundbreaking work. Measuring Roughness and Fractals: Mandelbrot’s pioneering study of fractals revealed their significance in understanding patterns across multiple domains, including finance. Insights into Finance and Economics: He argued that finance and economics are fundamentally different from physics. Traditional Gaussian approaches to risk management fail to capture the realities of financial systems, which are better modeled using fractal geometry and power-law distributions. Some individuals truly stand apart, and Mandelbrot is one of those rare, extraordinary minds. Personal Takeaway For my own work in finance and economics, this interview reinforced the urgency of studying Mandelbrot’s approaches to risk and systems in depth. If you’re interested and willing to invest the time, I highly recommend watching this interview—it’s an inspiring exploration of a brilliant thinker’s journey. (text revised by LLM) "...Benoit B.[n 1] Mandelbrot[n 2] (20 November 1924 – 14 October 2010) was a Polish-born French-American mathematician and polymath with broad interests in the practical sciences, especially regarding what he labeled as "the art of roughness" of physical phenomena and "the uncontrolled element in life".[6][7][8] He referred to himself as a "fractalist"[9] and is recognized for his contribution to the field of fractal geometry, which included coining the word "fractal", as well as developing a theory of "roughness and self-similarity" in nature.[10] In 1936, at the age of 11, Mandelbrot and his family emigrated from Warsaw, Poland, to France. After World War II ended, Mandelbrot studied mathematics, graduating from universities in Paris and in the United States and receiving a master's degree in aeronautics from the California Institute of Technology. He spent most of his career in both the United States and France, having dual French and American citizenship. In 1958, he began a 35-year career at IBM, where he became an IBM Fellow, and periodically took leaves of absence to teach at Harvard University. At Harvard, following the publication of his study of U.S. commodity markets in relation to cotton futures, he taught economics and applied sciences. Because of his access to IBM's computers, Mandelbrot was one of the first to use computer graphics to create and display fractal geometric images, leading to his discovery of the Mandelbrot set in 1980. He showed how visual complexity can be created from simple rules. He said that things typically considered to be "rough", a "mess", or "chaotic", such as clouds or shorelines, actually had a "degree of order".[11] His math- and geometry-centered research included contributions to such fields as statistical physics, meteorology, hydrology, geomorphology, anatomy, taxonomy, neurology, linguistics, information technology, computer graphics, economics, geology, medicine, physical cosmology, engineering, chaos theory, econophysics, metallurgy, and the social sciences.[12] Toward the end of his career, he was Sterling Professor of Mathematical Sciences at Yale University, where he was the oldest professor in Yale's history to receive tenure.[13] Mandelbrot also held positions at the Pacific Northwest National Laboratory, Université Lille Nord de France, Institute for Advanced Study and Centre National de la Recherche Scientifique. During his career, he received over 15 honorary doctorates and served on many science journals, along with winning numerous awards. His autobiography, The Fractalist: Memoir of a Scientific Maverick, was published posthumously in 2012. ..." https://en.wikipedia.org/wiki/Benoit_Mandelbrot https://youtube.com/playlist?list=PLVV0r6CmEsFwl4HlrIKxKmdpBAGYJ9AbR&si=9_ccF1Tln7wRLTjy

- Pedro

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Why Generative AI Is Missing from CEOs’ Top Priorities

For me, it’s truly puzzling why Generative AI hasn’t made it into the top five priorities on CEOs’ agendas, considering it’s the most disruptive technology of the last 20 years. There’s a striking disconnect between the hype and investment we see in the tech sector compared to its adoption in other industries. Several factors may explain this gap. Many members of the C-suite, including CIOs, lack the technical acumen to fully comprehend the transformative potential of Generative AI. Additionally, the risk-reward calculus of large organizations often leans heavily toward minimizing risks, even at the cost of forgoing significant rewards. An insightful article by The Economist (linked below) delves into this fascinating conundrum. (text revised by a LLM) https://www.economist.com/business/2024/11/04/why-your-company-is-struggling-to-scale-up-generative-ai

- Pedro

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The 2024 Best Books by the Economist → Biography and Memoir

The 2024 Best Books by the Economist → Biography and Memoir 1- The Editor. By Sara Franklin 2-Kingmaker. By Sonia Purnell 3-Maurice and Maralyn. By Sophie Elmhirst 4-Metamorphoses. By Karolina Watroba 5-One Way Back. By Christine Blasey Ford 6-One Way Back. By Christine Blasey Ford 7-Troubled. By Rob Henderson 8-Wild Thing. By Sue Prideaux All added to my wishlist. You might find 1/2 that catches your attention. https://www.economist.com/culture/2024/11/22/the-best-books-of-2024-as-chosen-by-the-economist

- Pedro

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11/12/2024

Exploring Tomorrow: A Review of "The Future with Hannah Fry"

I just finished Bloomberg's series The Future with Hannah Fry, which I highly recommend (link below). Each episode is only 25 to 30 minutes long, covering important topics for the near future in a relaxed yet insightful way. The topics include: 1-The 150-Year Life – Examining age-extension technologies. 2-Emotional Recognition – Exploring technology that reads emotions. 3-Weaponization of Data – Looking into the misuse of data and its implications. 4-Nuclear Fusion – Investigating nuclear fusion as a potential clean energy source. 5-Social Inclusion with Tech and AI – How technology supports people with disabilities. 6-Rewilding – The role of rewilding in conservation efforts. 7-Super Intelligence – The possibilities and risks of advanced AI. 8-Animal Communication – Using AI to interpret animal communication. 9-Quantum Arms Race – Exploring the potential impacts of quantum computing. 10-Pain – Innovative methods to understand and manage pain. 11-The Next Billion – The impact of internet expansion in developing regions. 12-Water – Addressing water scarcity and related geopolitical issues. Hope you enjoy it as much as I did! https://www.bloomberg.com/originals/series/the-future-hannah-fry

- Pedro

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11/10/2024

The Joy of Reading: How to Foster Good Reading Habits in Children

A very interesting FT article discusses how to create good and sustainable reading habits for your children and highlights its importance. The key, unsurprisingly, is that they enjoy reading. However, this enjoyment must be relevant compared to other available options. In economic terms, the utility of reading should be at least as high as that of substitute activities like video games. Achieving this balance can be challenging. To foster a love for reading, we need to carve out time in their schedules, starting with 15 to 30 minutes, 3 to 4 times a week. It’s important to select books that might pique their interests. Creating a family Book Club to discuss the books read, where everyone shares their opinions, can make reading a fun family activity. Additionally, making books readily available at home and visiting libraries together can help integrate reading into their daily lives. https://www.ft.com/content/e3878e7e-459b-43aa-a663-ef8e407012a3

- Pedro

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11/09/2024

Insights from Episode 1 of Boss Class: Essential Lessons on Leadership and Management

As promised a couple of months ago (see my previous note below), I’m beginning to share the key insights from each episode (7 episodes + 5 interviews) of The Economist's podcast series Boss Class. Episode 1 - "Weed it and Reap" 1-Management Over Leadership: Management includes leadership but goes beyond it to encompass planning, organizing, and controlling—all equally essential to success. 2-Leading by Example: Pep talks have limited impact outside the meeting room. True inspiration comes from leading by example. 3-Systems and Processes are Essential: Successful leadership requires setting up systems and processes, with clear rules and checkpoints to measure progress and direction. 4-Leadership Myths: Most popularized leadership traits are an idealized collection of traits selectively attributed to successful leaders of the moment. 5-Decision-Making Pitfalls: Avoid the "planning fallacy" and the fallibility of internal perspectives. Get an external view to temper optimistic projections. Kahneman’s example of curriculum development, which took seven years despite an internal projection of 1.5–2 years, highlights the importance of external perspectives. 6-Structured Decision-Making: Develop and adhere to a structured decision-making process. For more, see How to Decide by Annie Duke https://www.goodreads.com/review/show/6661838603. 7-Intuition is Overrated: While intuition may feel reassuring, it often lacks accuracy. 8-Effective Meetings: a)Define the meeting's purpose clearly. b)Classify the meeting type: Decision (identify decision-maker), Input, or Awareness (if Awareness, consider an email instead). 9-Be Explicit with Your Team: a)Clarify goals. b) Outline processes, systems, and expectations. c)Communicate your personal preferences transparently. 10-Timely, Candid Feedback: Give constructive feedback promptly. For insights on managing tough conversations, see my post on https://equityriskpremium.substack.com/p/finalized-training-tackle-the-hard?r=13q5fd. 11-Maintaining Organizational Momentum: Establish routines that set and sustain the team’s pace. All this in just 30 minutes—testament to the high quality of the series. I highly recommend investing the time to listen! https://substack.com/@pedrosantospinto/note/c-65095266

- Pedro

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Exploring Earth’s Wonders: Key Takeaways from One Strange Rock Episode 2 - "Gasp"

One Strange Rock, a must-watch series from National Geographic, offers 10 engaging, entertaining, and insightful episodes. Through this series, I discovered so much about the wonders of Earth that I hadn’t known before. Here’s a breakdown of what I learned (or got a quick refresher on) in Episode 2, "Gasp": 1-The Asteroid Impact: About 66 million years ago, an asteroid hit Earth, wiping out most life, including the dinosaurs, and setting the stage for humans to thrive. 2-The Odds and Impact: The odds of such a massive asteroid impact are incredibly low. The crater it left behind in Yucatán, Mexico, is about 180 km wide and 20 km deep. The impact struck a large sulfur reserve, releasing billions of tons of gas into the atmosphere. This blocked sunlight, froze the Earth, and had devastating effects on life. Had the asteroid struck the ocean just a few seconds later, the outcome might have been far less severe. 3-Earth’s Beginnings (4.6 Billion Years Ago): Where Earth is now was once a cloud of gas and dust orbiting the young Sun. A cosmic storm eventually brought particles together, merging dust into solid matter, then rocks, and through heat and pressure, Earth continued to grow. 4-The Origins of Water: Water, essential for life, came from comet and asteroid storms that bombarded Earth over 100 million years. Unlike on other planets, water remained on Earth because we’re at the right distance from the Sun, allowing it to exist as solid, liquid, and gas, creating the weather patterns that support life. 5-The Moon's Formation: It's now believed that a planet (dubbed Theia) once shared Earth’s orbit and eventually collided with Earth. The Moon formed from the resulting debris. 6-The Moon’s Influence: The Moon's gravitational pull on Earth generates tides, which are crucial to stabilizing Earth’s rotation. 7-The Moon’s Role in Day Length: Tides created by the Moon gradually slowed Earth’s rotation from five hours to the 24-hour day we have now. 8-The Seasons: The impact with Theia also tilted Earth’s axis by 23.5 degrees, creating the seasons and making life possible across much of the planet. All of this covered in just 50 minutes! I hope I sparked your interest. https://youtu.be/XrC4vDcWmxk?si=JZA6_LBbfac1zyVa

- Pedro

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11/08/2024

"Reflections on "The Covenant": Humanity, Afghanistan, and the Role of the UN"

It’s been a while since I watched a movie that kept me awake—and that's a high bar these days. This was a solid action movie, based on a true story, but ultimately it’s about human values. It’s hard not to reflect on how Afghan society was left under the darkness of the Taliban regime, especially the impact on women. The American withdrawal was disastrous on many fronts, but realistically, the responsibility couldn’t fall on a single nation. Situations like this expose how the ideals and values of the United Nations often feel sadly absent. https://youtu.be/02PPMPArNEQ?si=HxOejQYOx28tBTSN

- Pedro

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"Completed: 'The Art of Intelligence' MasterClass"

Just finished a MasterClass (>1h) on “The Art of Intelligence,” which I found fascinating. There are several key takeaways for my professional life that I'll share in a full post over the next few days. Three former CIA officers are sharing declassified stories and field-tested techniques, many of which haven’t been shared until now. Learn how to strengthen relationships, make better decisions, and be more persuasive so you can get exactly what you want, at work and at home. Learn more about the CIA’s techniques on MasterClass at https://mstr.cl/3BEFO2a. Your mission: Build stronger connections and get what you want out of life. Your instructors: Three former CIA intelligence officers: Brian Carbaugh, former director of the CIA’s Special Activities Center; Dawn Meyerriecks, former deputy director of the CIA for science and technology; and Michael Morell, former deputy director of the CIA. Yeah, pretty intense. Lessons in this online session include: How to Assess Risk Make Better Decisions Build Stronger Relationships Spot Red Flags Mitigate Bias Nail a Pitch https://www.youtube.com/watch?v=bupn1w3PzE4

- Pedro

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11/07/2024

Winning Strategies in Game Theory: A Guide to Recurring Games and Tit-for-Tat

This 27-minute video provides a fantastic overview of Game Theory fundamentals, with a focus on recurring games—situations where you encounter the same strategic decisions with the same parties multiple times. It’s packed with valuable insights and makes game theory concepts easy to grasp. For recurring games, you'll learn why "tit-for-tat" is often the most effective strategy. Highly recommended for sales professionals who want to deepen their understanding of how to manage customer relationships strategically. I hope you enjoy it as much as I did! https://youtu.be/mScpHTIi-kM?si=JfJtqq3a425CxQ7p

- Pedro

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11/04/2024

The 24 Steps to Launching a Successful Business: A Guide Inspired by Bill Aulet

Thinking about starting a new business? According to Bill Aulet, you’ll need to follow these 24 steps for success: Phase 1 - Define Your Customer 1- Market Segmentation: Identify potential markets. 2- Select Your Focus Segment: Choose your primary target. 3- Create an End-User Profile: Define who your end-user is. 4- Calculate the Profit Pool of Your Focus Segment: Assess your market's revenue potential. 5- Define Your Ideal Customer: Profile your ideal buyer. 6- Map Your Customer Journey: Outline the customer's path to purchasing. 7- Detail Your Product or Service: Specify it thoroughly. 8- Monetize Your Value Proposition: Quantify the value for the customer. 9- Map Your Next 10 Customers: Find other potential customers in your market. Phase 2 - What Can You Do for Your Customers? 10- Define Your Unique Selling Proposition (USP): Determine what sets you apart. 11- Identify Your Competitors: Understand the competitive landscape. Phase 3 - How Will You Generate Revenue? 12- Identify Decision Makers in Your Customer’s Organization: Understand who makes buying decisions. 13-Outline Customer Acquisition: Plan how to gain customers. 14- Identify Profit Pools of Adjacent Segments: Explore future markets. Phase 4 - How Do You Design and Build Your Product? 15- Design Your Product/Service: Create a plan or prototype. 16-Quantify Your USP: Use data to support your product's value. 17- Define Your Minimum Viable Product (MVP): Build a basic, functional version. 18- Validate Your MVP: Confirm customers will pay for it. Phase 5 - How Do You Scale? 19- Develop Your Product: Plan product iterations or pivots. 20- Define Your Business Model: Choose how you’ll earn revenue. 21- Price Your Product: Establish pricing strategy. 22-Calculate Customer Lifetime Value (LTV): Determine long-term customer profitability. 23- Calculate Customer Acquisition Cost (CAC): Assess how much it costs to gain a customer. 24- Identify Key Assumptions: Test assumptions to validate your approach. It’s a lot to consider—but definitely worth it! Added the book to my wishlist 😊 “…Many people aspire to entrepreneurship. But Bill Aulet, who has advised founders for decades, warns that it remains a high-risk endeavor. In this episode, he outlines concrete steps anyone can take to get a new venture off the ground — including intrapreneurs within large organizations. He also breaks down some of the important trends he’s seeing in entrepreneurship, like the increasing commoditization of products and lower barriers to entry, due to technology. Aulet is a professor of entrepreneurship at the Sloan School of Management at MIT. He’s also the author of the book Disciplined Entrepreneurship: 24 Steps to a Successful Startup. Key episode topics include: strategy, entrepreneurship, entrepreneurs and founders, entrepreneurial business strategy, innovation, start-ups. HBR On Strategy curates the best case studies and conversations with the world’s top business and management experts, to help you unlock new ways of doing business. New episodes every week. …” https://www.amazon.es/Disciplined-Entrepreneurship-Successful-Startup-Expanded-ebook/dp/B0CZBSF433/ref=tmm_kin_swatch_0?_encoding=UTF8&dib_tag=se&dib=eyJ2IjoiMSJ9.UICjsdZ0YwoEhUr2T8FgWW40ERTBVR5aseXDWOMqaojMI69O_KLXfGeJ6LW_Mm8nTnn4j-_erTOLIjmt2ha8OpiVn6s0R0tHP5klRWKVt7c.PKPV4hoSTXiG9OD1JwmdeuZo7cdqcvlSmnzktBNu8Ek&qid=1730756409&sr=8-1 https://podcasts.apple.com/es/podcast/hbr-on-strategy/id1683845677?i=1000668319361

- Pedro

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AI in Warfare and Industry: Staying Competitive in the Age of Advanced Technology

t’s unsurprising yet still unsettling: the use of AI in warfare is rapidly becoming widespread, giving the military the extra edge they need in their operations. The military's AI budget is expected to skyrocket, becoming a decisive factor in actual and future conflicts. AI’s potential impact spans logistics, maintenance, recruitment, and even intelligent weaponry, like air-launched munitions and drones. In today’s military landscape, using AI is no longer just an advantage; it’s a prerequisite for staying competitive. However, the real differentiator lies in the sophistication of AI applications. Similarly, in the industrial realm, this principle applies. So, where is your company on its AI journey? Are you investing in future success, or are you bogged down in daily cycles, focusing on immediate needs rather than long-term vision? How AI is changing warfare https://www.economist.com/briefing/2024/06/20/how-ai-is-changing-warfare from The Economist

- Pedro

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11/03/2024

The Periodic Table Reimagined: How Visual Tweaks Can Rekindle Curiosity

The periodic table is a structured representation of all known chemical elements, organized to reflect their properties and relationships. Typically, elements are arranged by rows (periods, which indicate the number of electron shells in the atoms) and columns (families, which group elements with similar chemical properties based on the number of electrons in their outer shell). Elements are also grouped by categories—such as alkali metals, alkaline earth metals, transition metals, halogens, and noble gases—and displayed by atomic number (the number of protons in the nucleus) and atomic mass (the mass of an atom of each element). I first encountered the periodic table back in 9th grade, but Professor Sheehan’s 1976 adaptation, which considers the actual abundance of elements on Earth, sparked my interest all over again. It’s amazing how a well-designed visual—a small tweak to an established format—can reignite curiosity and convey a complex reality in a single image. The periodic table of elements scaled to show the actual abundance of the elements on Earth by Prof. Wm. F. Sheehan in 1976. Source: https://beyondeuclid.substack.com/

- Pedro

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Cracking the Code on Good Management: Lessons from Bartleby and Harvard

I must confess that articles like this one are exactly why I subscribe to The Economist! This outstanding piece by Bartleby not only provided insights on a specific topic but also introduced me to other relevant sources, including an academic paper, enabling me to explore the subject further on my own. So, what makes a good manager? According to a recent academic paper by Ben Weidmann and co-authors at the Harvard Kennedy School, the researchers delved into this subject and arrived at some surprising—or perhaps unsurprising—conclusions: 1-A competent manager can have up to twice the impact of a competent worker. 2- Those who are highly eager to manage others, often driven by self-promotion, don't necessarily make good managers. In fact, this tendency can be counterproductive. 3- Key competencies that predict managerial effectiveness include: a) Strong Economic IQ – The ability to identify patterns and match them to problems that need solving. You can assess your own skills here: https://www.skillslab.dev/assignment-game (I'll be trying it today!). b) Fluid Intelligence – The capacity to solve new problems and adapt quickly to new information. 5-Management skills should be identified, codified, and incorporated into selection processes. Otherwise, you may fall victim to one of my favorite management principles, the Peter Principle (by Dr. Laurence J. Peter). This principle suggests that individuals are promoted to their level of incompetence. For a quick overview, check out this [YouTube link on the Peter Principle]. I highly recommend reading the article, taking the test, and diving into the 34-page academic paper. Peter’s Principle Explained - https://youtu.be/39wzku9KIEM?si=N5wp4AxtfIXHdFd1 Ben Weidmann & co-authors’ paper -https://www.nber.org/papers/w32699 Chat-GPT Op-ed on the paper: Op-Ed: Finding the Right Managers – Why Skills Trump Self-Promotion In a fast-evolving labor market, effective management is often the key to success. The recently published paper "How Do You Find a Good Manager?" sheds light on what qualities make a good manager and how the selection process can make or break team productivity. Conducted through a novel experiment, the researchers discovered that managers with strong economic decision-making skills and fluid intelligence—essentially the ability to adapt and solve novel problems—deliver the best outcomes. However, the study also reveals a troubling issue: individuals who eagerly nominate themselves for managerial roles tend to perform worse than those selected at random. This finding runs counter to common workplace practices, where self-promotion often translates to leadership. The reason is clear: self-promoters frequently overestimate their abilities, particularly their social skills, leading to worse team outcomes. In contrast, managers selected based on their measurable skills rather than their self-confidence can substantially boost productivity. The study demonstrates that selecting managers for their decision-making abilities rather than letting them self-promote can improve team performance by a full standard deviation—a huge jump that businesses would be wise to leverage. This study is a call to action for organizations to reevaluate how they pick leaders. Companies often rely on personality traits or leadership ambition as selection criteria, but focusing on tangible skills like decision-making can drive much higher returns. By doing so, organizations can unlock the true potential of their teams and avoid the trap of overconfidence that so often accompanies self-promotion. Pluses (With Examples) 1-Clear Methodology for Assessing Managerial Impact: The study introduces a novel method of measuring managerial contributions through random assignment of managers to multiple teams. This approach ensures a robust analysis of how managers truly influence team performance. For instance, managers who improved team performance by one standard deviation were found to boost team output by 0.23 standard deviations, which is almost double the effect of a high-performing worker​(ssrn-4905203). This highlights the outsized impact a good manager can have. 2-Skill-Based Selection Outperforms Self-Promotion: The paper highlights the benefits of selecting managers based on specific skills, such as economic decision-making and fluid intelligence. In fact, selecting managers based on these traits improved performance by 0.7 standard deviations compared to letting individuals self-promote​(ssrn-4905203). This is a compelling argument for organizations to adopt a more merit-based approach to leadership selection. 3-Real-World Applications: The experimental design closely mimics real-world managerial tasks, like monitoring workers and reallocating tasks based on team strengths. For instance, managers who scored higher in fluid intelligence were better at reducing wasted effort and ensuring the right person was assigned to the appropriate task​(ssrn-4905203). This practical approach makes the findings directly applicable to improving workplace dynamics. Minuses (With Examples) 1-Overconfidence of Self-Promoted Managers: A major downside uncovered in the study is that individuals who self-promote into managerial roles often perform poorly due to overconfidence. For example, managers who were self-promoted led teams that performed 0.1 standard deviations lower than teams with randomly assigned managers​(ssrn-4905203). This overconfidence, particularly in their social skills, not only affects the manager’s performance but also drags down the team's efficiency. 2-Limited Focus on Organizational Dynamics: While the experiment isolates individual managerial contributions, it may not capture the full range of real-world organizational factors. For instance, companies often have hierarchical or political dynamics that influence managerial success, which were not addressed in the experimental setup. As a result, the study's findings may not entirely account for external influences that affect managerial performance outside of controlled lab conditions. 3-Bias in Skill Evaluation: Though the paper advocates for skills-based selection, there is an inherent risk of over-relying on measurable skills like decision-making or fluid intelligence. This could potentially overlook other important managerial traits like empathy or long-term strategic thinking, which were less emphasized in the study. A more holistic approach might yield better results in complex organizational environments where soft skills play a crucial role. Conclusion The study "How Do You Find a Good Manager?" offers a refreshing perspective on managerial selection by advocating for a shift away from traditional self-promotion and personality-based selection methods. The evidence clearly shows that choosing managers based on measurable skills like economic decision-making and fluid intelligence can dramatically enhance team performance. Organizations that prioritize these attributes over self-confidence or demographics stand to see significant gains in productivity and efficiency. However, the study also highlights a critical weakness in relying too heavily on self-promoted leaders, whose overconfidence—particularly in social skills—can impair team success. This underscores the need for companies to adopt more objective, skill-based criteria when selecting their managers. While the findings are robust, they may not fully capture the complexities of real-world organizational dynamics, which could further shape managerial effectiveness. In conclusion, firms looking to maximize team performance should seriously consider overhauling their manager selection processes. By focusing on hard skills and avoiding the pitfalls of self-promotion, organizations can cultivate a leadership structure that genuinely drives better outcomes. What makes a good manager? https://www.economist.com/business/2024/10/03/what-makes-a-good-manager from The Economist

- Pedro

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11/02/2024

Redefining Leadership for the 21st Century: Insights from McKinsey

McKinsey’s article on 21st-century leadership is a must-read, exploring key attributes, best practices, and how organizations can create "Leadership Factories." Here’s a brief overview of three essential topics based on the insights I found most compelling: On Personal Attributes: 1.Positive Energy, Balance, and Inspiration - Leaders must cultivate mind, body, and spirit to build authentic, inspiring connections with their teams. 2.Servant Leadership - A selfless focus on team success is crucial. 3.Continuous Learning and Humility - Leaders should embrace curiosity and learn from their mistakes. 4.Grit and Resilience - Persistence through tough times requires resilience and a degree of stoicism. 5.Levity - Encouraging humor in the workplace can be powerful. 6.Stewardship - Leaders should set a long-term vision and guide the team toward it. On Early Best Practices: 1.Engage All Stakeholders - Foster open discussions and a culture that values diverse perspectives. 2.Enroll the Team - Ensure that the team fully embodies the organization’s strategy and vision, making it more than just a statement. 3.Build an Operational Model - Develop a system that encourages speed, clear decision-making, and minimizes unnecessary bureaucracy. 4.Promote a Culture of Trust - Address any gaps in reliability, credibility, and openness. On Leadership Factories: 1.Define Essential Leadership Qualities - Identify the leadership attributes that drive success in your organization. 2.Deploy Top Talent to Complex Situations - Assign your best leaders to tackle the toughest challenges. 3.Outline a Plan to Build Leadership Capacity - Structure programs to develop and scale leadership across the organization. 4.Lead Yourself Before Leading Others - Use feedback to continually improve. This article is highly recommended for anyone interested in modern leadership. I hope you enjoy it and find as much value in it as I did! https://www.mckinsey.com/capabilities/strategy-and-corporate-finance/our-insights/the-art-of-21st-century-leadership-from-succession-planning-to-building-a-leadership-factory?stcr=540C42850C47404E8F67F09D4E7CE2DE&cid=other-eml-nsl-mip-mck&hlkid=14d86603e91e46018a90e734089a0943&hctky=13017974&hdpid=7000e14a-d6df-48a7-80f4-e7c4c872d5fd

- Pedro

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Books added to the Library throughout October'24

Throughout October’24 I have added 10 books to my library. Hopefully, you can also find 1 or 2 for your own library!

The selection rules were:

  • the book had to be recommended by someone directly or by an article I have read or a podcast I have listened.

  • the book should be less than €5 (usually via Kindle -promotions- or 2nd hand) or part of the reading list of a book club that I’m a member.

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1- Rise and Kill First: The Secret History of Israel's Targeted Assassinations, Ronen Bergman

“…Winner of 2018 National Jewish Book Award

Rise and Kill First is the definitive book to read on Israel's military history.

From the very beginning of its statehood in 1948, the instinct to take every measure to defend the Jewish people has been hardwired into Israel's DNA. This is the riveting inside account of the targeted assassinations that have been used countless times, on enemies large and small, sometimes in response to attacks against the Israeli people and sometimes pre-emptively.

Rise and Kill First counts their successes, failures and the moral and political price exacted on those who carried out the missions which have shaped the Israeli nation, the Middle East and the entire world. …”

2- Influence, New and Expanded: The Psychology of Persuasion, Robert B. Cialdini

“…The foundational and wildly popular go-to resource for influence and persuasion—a renowned international bestseller, with over 5 million copies sold—now revised adding: new research, new insights, new examples, and online applications.

In the new edition of this highly acclaimed bestseller, Robert Cialdini—New York Times bestselling author of Pre-Suasion and the seminal expert in the fields of influence and persuasion—explains the psychology of why people say yes and how to apply these insights ethically in business and everyday settings. Using memorable stories and relatable examples, Cialdini makes this crucially important subject surprisingly easy. With Cialdini as a guide, you don’t have to be a scientist to learn how to use this science.

You’ll learn Cialdini’s Universal Principles of Influence, including new research and new uses so you can become an even more skilled persuader—and just as importantly, you’ll learn how to defend yourself against unethical influence attempts. You may think you know these principles, but without understanding their intricacies, you may be ceding their power to someone else.[…]

Understanding and applying the principles ethically is cost-free and deceptively easy. Backed by Dr. Cialdini’s 35 years of evidence-based, peer-reviewed scientific research—including a three-year field study on what leads people to change—Influence is a comprehensive guide to using these principles to move others in your direction. …”

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3- Deep Work: Rules for Focused Success in a Distracted World, Cal Newport

“…One of the most valuable skills in our economy is becoming increasingly rare. If you master this skill, you'll achieve extraordinary results.

Deep Work is an indispensable guide to anyone seeking focused success in a distracted world.

'Cal Newport is exceptional in the realm of self-help authors' New York Times

'Deep work' is the ability to focus without distraction on a cognitively demanding task. Coined by author and professor Cal Newport on his popular blog Study Hacks, deep work will make you better at what you do, let you achieve more in less time and provide the sense of true fulfilment that comes from the mastery of a skill. In short, deep work is like a superpower in our increasingly competitive economy.

And yet most people, whether knowledge workers in noisy open-plan offices or creatives struggling to sharpen their vision, have lost the ability to go deep - spending their days instead in a frantic blur of email and social media, not even realising there's a better way.

A mix of cultural criticism and actionable advice, Deep Work takes the reader on a journey through memorable stories -- from Carl Jung building a stone tower in the woods to focus his mind, to a social media pioneer buying a round-trip business class ticket to Tokyo to write a book free from distraction in the air -- and surprising suggestions, such as the claim that most serious professionals should quit social media and that you should practice being bored.

Put simply: developing and cultivating a deep work practice is one of the best decisions you can make in an increasingly distracted world. This book will point the way. …”

4- The Creative Act: A Way of Being, Rick Rubin

“… "A gorgeous and inspiring work of art on creation, creativity, the work of the artist. It will gladden the hearts of writers and artists everywhere, and get them working again with a new sense of meaning and direction. A stunning accomplishment.” —Anne Lamott

From the legendary music producer, a master at helping people connect with the wellsprings of their creativity, comes a beautifully crafted book many years in the making that offers that same deep wisdom to all of us.

“I set out to write a book about what to do to make a great work of art. Instead, it revealed itself to be a book on how to be.” —Rick Rubin

Many famed music producers are known for a particular sound that has its day. Rick Rubin is known for something else: creating a space where artists of all different genres and traditions can home in on who they really are and what they really offer. He has made a practice of helping people transcend their self-imposed expectations in order to reconnect with a state of innocence from which the surprising becomes inevitable. Over the years, as he has thought deeply about where creativity comes from and where it doesn’t, he has learned that being an artist isn’t about your specific output, it’s about your relationship to the world. Creativity has a place in everyone’s life, and everyone can make that place larger. In fact, there are few more important responsibilities.

The Creative Act is a beautiful and generous course of study that illuminates the path of the artist as a road we all can follow. It distills the wisdom gleaned from a lifetime’s work into a luminous reading experience that puts the power to create moments—and lifetimes—of exhilaration and transcendence within closer reach for all of us. …”

5- Dancing Bears: True Stories of People Nostalgic for Life Under Tyranny, Witold Szablowski (Author), Antonia Lloyd-Jones (Translator)

“…For hundreds of years, Bulgarian Gypsies trained bears to dance, welcoming them into their families and taking them on the road to perform. In the early 2000s, with the fall of Communism, they were forced to release the bears into a wildlife refuge. But even today, whenever the bears see a human, they still get up on their hind legs to dance.

In the tradition of Ryszard Kapuściński, award-winning Polish journalist Witold Szabłowski uncovers remarkable stories of people throughout Eastern Europe and in Cuba who, like Bulgaria’s dancing bears, are now free but who seem nostalgic for the time when they were not. His on-the-ground reporting—of smuggling a car into Ukraine, hitchhiking through Kosovo as it declares independence, arguing with Stalin-adoring tour guides at the Stalin Museum, sleeping in London’s Victoria Station alongside a homeless woman from Poland, and giving taxi rides to Cubans fearing for the life of Fidel Castro—provides a fascinating portrait of social and economic upheaval and a lesson in the challenges of freedom and the seductions of authoritarian rule. …”

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6- Playing in the Dark, Toni Morrison

“…An immensely persuasive work of literary criticism that opens a new chapter in the American dialogue on race—and promises to change the way we read American literature—from the acclaimed Nobel Prize winner

Morrison shows how much the themes of freedom and individualism, manhood and innocence, depended on the existence of a black population that was manifestly unfree--and that came to serve white authors as embodiments of their own fears and desires. According to the Chicago Tribune, Morrison "reimagines and remaps the possibility of America." Her brilliant discussions of the "Africanist" presence in the fiction of Poe, Melville, Cather, and Hemingway leads to a dramatic reappraisal of the essential characteristics of our literary tradition.

Written with the artistic vision that has earned the Nobel Prize-winning author a pre-eminent place in modern letters, Playing in the Dark is an invaluable read for avid Morrison admirers as well as students, critics, and scholars of American literature. …”

7- The Battle for God: A History of Fundamentalism , Karen Armstrong

“… In the late twentieth century, fundamentalism has emerged as one of the most powerful forces at work in the world, contesting the dominance of modern secular values and threatening peace and harmony around the globe. Yet it remains incomprehensible to a large number of people. In The Battle for God, Karen Armstrong brilliantly and sympathetically shows us how and why fundamentalist groups came into existence and what they yearn to accomplish.

We see the West in the sixteenth century beginning to create an entirely new kind of civilization, which brought in its wake change in every aspect of life -- often painful and violent, even if liberating. Armstrong argues that one of the things that changed most was religion. People could no longer think about or experience the divine in the same way; they had to develop new forms of faith to fit their new circumstances.

Armstrong characterizes fundamentalism as one of these new ways of being religious that have emerged in every major faith tradition. Focusing on Protestant fundamentalism in the United States, Jewish fundamentalism in Israel, and Muslim fundamentalism in Egypt and Iran, she examines the ways in which these movements, while not monolithic, have each sprung from a dread of modernity -- often in response to assault (sometimes unwitting, sometimes intentional) by the mainstream society.

Armstrong sees fundamentalist groups as complex, innovative, and modern -- rather than as throwbacks to the past -- but contends that they have failed in religious terms. Maintaining that fundamentalism often exists in symbiotic relationship with an aggressive modernity, each impelling the other on to greater excess, she suggests compassion as a way to defuse what is now an intensifying conflict. …”

8- Ángeles de cuatro patas: Lecciones de un labrador chocolate llamado Api, Luis Carvajal

“…"Ángeles de cuatro patas" es una conmovedora historia sobre Api, un labrador chocolate que llegó a la vida del autor como un regalo. Este libro no es solo un relato sobre un perro; es un viaje emocional que revela cómo estos seres extraordinarios son mucho más que simples mascotas.

A través de las experiencias compartidas con Api, desde su llegada como un enérgico cachorro hasta sus últimos días como un sabio compañero canino, el autor descubre verdades universales sobre el amor, la resiliencia y el propósito de la vida. Api fue un testigo de los momentos cruciales en la vida del autor - un divorcio, un cambio de carrera, un nuevo amor, una familia - un guía del que aprender y mejorar día a día.

Con una prosa emotiva y reflexiva, casi escrita para niños, el libro explora cómo Api, a pesar de sus propios desafíos físicos, dejó lecciones sobre la fortaleza, la alegría en las pequeñas cosas, el amor y las ganas de vivir.

"Ángeles de cuatro patas" no es solo para amantes de los perros. Es un recordatorio de que a veces, los ángeles vienen a nosotros en las formas más inesperadas, con cuatro patas y un corazón lleno de amor puro.

Este libro te hará reír, llorar y, sobre todo, apreciar la profunda conexión que podemos formar con nuestros compañeros caninos. Es una celebración de la vida, el amor y el legado que dejan estos ángeles peludos en nuestras vidas incluso después de que se hayan ido.

Las ganancias de este libro serán donadas a la ANAA (Asociación Nacional de Amigos de los Animales), para ayudar a otros perros a que encuentren los dueños que necesitan y puedan así cumplir su misión vital: dar y recibir amor. ..”

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9- Damascus Station, David McCloskey

“…CIA case officer Sam Joseph is dispatched to Paris to recruit Syrian Palace official Mariam Haddad. The two fall into a forbidden relationship, which supercharges Haddad's recruitment and creates unspeakable danger when they enter Damascus to find the man responsible for the disappearance of an American spy.

But the cat and mouse chase for the killer soon leads to a trail of high-profile assassinations and the discovery of a dark secret at the heart of the Syrian regime, bringing the pair under the all-seeing eyes of Assad's spy catcher, Ali Hassan, and his brother Rustum, the head of the feared Republican Guard. Set against the backdrop of a Syria pulsing with fear and rebellion, Damascus Station is a gripping thriller that offers a textured portrayal of espionage, love, loyalty, and betrayal in one of the most difficult CIA assignments on the planet. …”

10- Some People Need Killing: A Memoir of Murder in My Country, Patricia Evangelista

“…For six years, journalist Patricia Evangelista documented killings carried out by police and vigilantes in the name of then president Rodrigo Duterte’s war on drugs—a crusade that led to the slaughter of thousands—immersing herself in the world of killers and survivors and capturing the atmosphere of terror created when an elected president decides that some lives are worth less than others.

The book takes its title from the words of a vigilante, which demonstrated the psychological accommodation many across the country had made: “I’m really not a bad guy,” he said. “I’m not all bad. Some people need killing.”

A profound act of witness and a tour de force of literary journalism, Some People Need Killing is a brilliant dissection of the grammar of violence and an investigation into the human impulses to dominate and resist. …”


Happy readings!



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11/01/2024

A Hidden Gem: Discovering Google Arts & Culture

I just stumbled upon the Google app Google Arts & Culture, and it was such a wonderful surprise! I'm definitely planning to spend more time exploring it—it truly seems worthwhile. Hope you enjoy it too! https://artsandculture.google.com/

- Pedro

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The Breath of Earth: An Oxygen Odyssey - One Strange Rock Episode #1

One Strange Rock, a must-watch series from National Geographic, offers 10 engaging, entertaining, and insightful episodes. Through these, I learned so much about the wonders of Earth that I hadn’t known before. Here's a breakdown of what I discovered or got a quick refresher on in this episode: Earth is unique in many ways. It’s the "1 in a million" planet, the only one we know of that's rich in oxygen, which makes up 20.95% of our atmosphere—a percentage that has remained incredibly stable over time. Oxygen is essential for generating the energy that sustains life. So, how is oxygen produced? Through an incredible cycle: a) It begins in Africa, in salt deserts. b) From here, massive dust storms carry this desert dust across the Atlantic to South America—a phenomenon observable from space. c) Every year, 27 million tons of African dust reach the Amazon basin, delivering perfect nutrients for plants and trees thanks to the salts and minerals it carries. d) The trees and plants, as we learned in school, transform carbon dioxide into oxygen. e) Each tree produces enough oxygen to support two people. f) However, all the oxygen produced in the Amazon basin is consumed within the basin itself. g) The Amazon rainforest, in turn, creates a "river in the sky," where evaporating water forms massive clouds. h) This sky river meets the Andes Mountains, where it condenses into rain, flows back into the Amazon, erodes the rocks, and transports the generated nutrient-rich sediments to the ocean. i) In the ocean, diatoms—tiny organisms and unsung heroes—absorb these nutrients, photosynthesizing and producing oxygen. In fact, diatoms are responsible for generating around 50% of the atmospheric oxygen. j) Diatoms thrive wherever there's water. k) When they die, diatoms settle on the ocean floor, forming a salty layer. l) Eventually, this layer forms new salt deserts, as mentioned in point a. m) And so, the oxygen cycle continues. This cycle is nothing short of astonishing—it shows how everything is interconnected and also how fragile these connections may be. All of this covered in just 50 minutes! https://youtu.be/XrC4vDcWmxk?si=GZluN5Z_9CpsUDcZ

- Pedro

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Forecasting the Future: Understanding and Adapting to The Economist’s Election Model

The Economist’s presidential election prediction model currently suggests that each candidate has a 50% chance of winning. According to their simulations, if the election were held today, Trump would win 51 out of 100 times based on their Monte Carlo simulation. Regardless of political preference, here are some key points to consider: Anticipate a Very Close Race: With such tight margins, be prepared for widespread misinformation and disinformation in the aftermath, especially from the losing side. Fraud Allegations Will Arise Quickly: Claims of fraud or election manipulation may surface almost immediately. Heightened National Tensions: A nation split so evenly will likely experience significant tension and conflict across communities. Institutional Resilience is Essential: There will be substantial turbulence post-election, and institutions must be prepared for this strain. Whether you’re an individual, company, government, or region, it’s wise to consider scenarios for each potential president based on their policy promises and projected impact on your interests, both in the U.S. and abroad. Personally, I’m especially interested in understanding how The Economist built this model. Exploring the “How it works” section and the methodology details could provide valuable insights for applying similar modeling techniques to my own work. You can check it out here: https://www.economist.com/interactive/us-2024-election/prediction-model/president/how-this-works/. Our presidential election prediction shows the race is a dead heat https://www.economist.com/interactive/us-2024-election/prediction-model/president from The Economist

- Pedro

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