Silver lining endings, always?


Today, I saw a finest connect in the movie Silver Linings Playbook, and a quote struck me. Thought of sharing it here, think about it.

The world will break your heart ten ways to Sunday, that’s guaranteed. And I can’t begin to explain that, or the craziness inside myself and everybody else, but guess what? Sunday is my favorite day again. I think of everything everyone did for me and I feel like a very lucky guy.

Said by Pat almost at the climax in the movie.

Is there always a sunday to every story? Are there silver linings to all your endeavors? Something we have to think about while we try accomplish something so hard, that everything we could ever wish is to make it positive till the end and finally, after drenching out in sweat, mind and heart, we get there. That’s the feeling no one could ever want to miss in their life.

I have this same feeling today, while I am admitted to Masters in Entrepreneurship program at University of Michigan’s Ross School of Business and Department of Engineering. And somehow, everything I did in the last 5 years connected the dots to achieve this. God’s been kind, and people supportive. All those good quotes I have ever heard makes more sense to me now and with that I am just enjoying my Sunday. A silver lining to a beginning of my journey. And I am sure, you had yours or waiting for it, believe in yourself and you will get a silver lining at the horizon. If not, a golden lining is destined for you. You are the Entrepreneur of your life. 

How Bitcoins changes the economics?


We must have recently learned about the virtual currency that is recognized in the digital community as the Digital Gold. We all must have come across online social games where collecting coins determines how well you have performed in the game like the recently popular game app TempleRun. With those coins, we could unlock other stages, players, equipments and other innovative features that helps us survive in the game and get addicted to it. Similarly, there are coins which are used to buy and exchange real products in a new currency form known as Bitcoins.

What is a Bitcoin? 

These Bitcoins are not controlled by any government or banks, but are algorithmically designed intangible, digital form of currency that efficiently controls the flow of money. Today, almost $750m worth Bitcoins are traded and stored through the digital wallets. One can get Bitcoins by a concept called Online Mining, like the concept in mining of gold. By running an online store that accepts Bitcoins, or by exchanging dollars, yens, pounds etc to Bitcoins or by mining bitcoins through computer generated problems, we can acquire and use the Bitcoins. The current value of 1 Bitcoin is almost $120 and the value is volatile like the stock markets. The maximum amount of Bitcoins that can be traded and stored has a cap of 21 Million and not a single Bitcoin more.

So how does this affect the economics? 

In the ancient times, different metals were exchanged to barter goods among different communities, which represented amount of grains stored. Then came the coinage, where metals were mined, weighed and stamped into different coins of gold, silver and copper. Then, the need for credit and a currency that was less burdensome to exchange led to the introduction of Paper Money from the Pre-modern China.

As Bitcoins are gaining more popularity by the attributes it showcases like acceptability, design, limited supply and easy transfer without processing fees, the economics of money will be altered in bits.

1. While some people in the US government feel that the government is excessively printing money, for the money circulation and its link to productivity and employment opportunities, they are devaluing the dollar. If Bitcoins are introduced and gains acceptability, due to its maximum cap of 21 Million, the excess printing of money will be discontinued, which alters the economics of money supply.

2. Moreover, if Bitcoins are introduced, the transfer of bitcoins through buying/selling products which are legal or illegal in nature cannot be tracked. This definitely excites the ones involved in money laundering, manipulating the black money and other illegal activities.

3. Bitcoins also eliminate the possibility of transfer of dollars by paying a significant sum of fees to payment portals like PayPal, CCAvenue etc. These middlemen companies have no role in the transfer of Bitcoins. Similarly, the processing fees charged through central banks will also be eliminated. And governments, individuals, companies can transfer money without the need of these middlemen.

4. In Bitcoins, the money supply is fixed by design, which is a limiting factor and thus will be highly volatile in terms of dollar exchange rates.

5. There is a possibility of hacking the digital wallets in which the bitcoins will be stored and hence one cannot recover the bitcoins once stolen, this excites the hacker community in general. There is no way to track these stolen bitcoins though Bitcoins are cryptographically designed.

Also, watch this video: 

Though, the new virtual currency is in the talks, the role of governments will be the most important factor in determining the life of Bitcoins. Till then in God we trust. 

The Three kinds of Entrepreneurs


I read this most amazing quote today by the founder and CEO of Mu Sigma Mr. Dhiraj Rajaram. Mu Sigma is a billion dollar company in data analytics and is known to manifest entrepreneurial growth through the data scientists it makes out of programmers, analysts and applied Mathematicians.

He draws a relationship between the types of entrepreneurs and the two main kinds of marriages in India. He says, “ There are two kinds of entrepreneurs. One are arranged marriage entrepreneurs and the other are love marriage entrepreneurs.

“The arranged marriage entrepreneurs are the ones who want to be entrepreneurs and they look for the right business. They shop around. They try out different ideas. They sit in Starbucks and meet with people. They talk to VCs, raise money and sometimes even exit. And like many arranged marriages they have beautiful endings.”


“The second kind of entrepreneur is the Love marriage entrepreneur. He is somebody who has found a girl and wants to live with that girl. And as part of that he is ready to get married with that girl. The girl is the idea. I became an entrepreneur because I wanted to work on that idea.”

 

This analogy is indeed very true in the entrepreneurial context in India. There are always two sides of the coin. One side, which will always look for good ideas and create a business out of it. The other side, has already found out the idea and wants to work on it for the rest of his life. What do you think is more transformational? I say, its both. Both kind of entrepreneurs are needed in the startup ecosystem. One fosters competition and other fosters innovation. Both of which are necessary for a healthy startup scene.

I love the fact, that these two kind of entrepreneurs can be anyone. There are no set rules to become an Entrepreneur. Anyone can opt Arranged marriage, Love marriage or In India, Arranged cum Love marriage, which is the best bet and the hybrid third type of an Entrepreneur. To all those people, who never thought of marriage, marry your love and arrange it.

 

Mood Swings by Light Le Productions


Me and friend always thought of making a short film over our tenure of five years graduate program. But, due to our constant procrastinations and distractions, we could never make one. Now, the graduate program is coming to an end.

Finally, we made one. Alas!

The Idea-procrastination principle


I state here the excerpt from the book,  Eat That Frog!: 21 Great Ways to Stop Procrastinating and Get More Done in Less Time, by Brian Tracy:

Step three: Set a deadline on your goal; set sub-deadlines if necessary. A goal or decision without a deadline has no urgency. It has no real beginning or end. Without a definite deadline accompanied by the assignment or acceptance of specific responsibilities for completion, you will naturally procrastinate and get very little done. Step four: Make a list of everything that you can think of that you are going to have to do to achieve your goal. 

We, humans tend to work on ideas unless our ass is on fire (read when we are on deadlines). No matter how much we think when to start, there is no actual beginning to the effective work until we plan our stuffs before time and excel when the right time comes. We all procrastinate in the way to suit ourselves and satisfy our conveniences. Say, you have an idea and you want to work on commercializing that idea. Though the opportunity costs favor you, we sometimes tend to not work on the idea thinking it’s too much to work on and eventually degrade ourselves in achieving that goal because its far, too far to be achieved. Most of the successful entrepreneurs work through their procrastination just by planning stuffs and sticking to that mental deadline. It’s hard for most of us to start planning things and implementing it, but it actually takes exactly 21 days to get into the rut. That’s the rule. Work for 21 days no matter what on the deadline, and after that your body clock will support your plans and you will be on the routine working on that idea which can change your life and impact millions.

So, the idea-procrastination principle is Work for 21 days on anything productive without skipping a day of not doing that stuff and eventually you will get into routine of working through your procrastination and prototyping that idea into a product or something substantial.