How to become a millionaire in 3 years?

June 21, 2010 by happyrichpinoy · Leave a Comment
Filed under: Success, Wealth 

Market opportunity- a million dollars isn’t a lot in the grand scheme of things, but it certainly is a lot if the market opportunity is not large enough. Even if you put Bill Gates and Steve Jobs as founders in a new venture with a total market size of 10 million, there is no way they could become too wealthy without completely changing the business (ie- failing).

Inequality of information- find a place where you know something that many undervalue. Having this inequality of information can give you, your first piece of leverage.

Leverage skills you know- You can go into new fields such as say Finance, but make sure you’re leveraging something you already know such as technology and/or product. Someone wanted to start a documentary with me. I said that would be fun, but it would be my first documentary regardless of what happened. There was a glass ceiling due to that. If I do something leveraging a skill I know, I’m already ahead of the game.

Look in obscure places- We’re often fascinated with the shiny things in the internet industry. Many overlook the obscure and unsexy. Don’t make that mistake. If your goal has primarily monetary motivations, look at the unsexy.

Surround yourself with smart people- smart people whom are successful usually got there by doing the same and have an innate desire to help those do the same. it’s the ecosystem that’s currently happening with the paypal mafia and can be traced all the way back to fairchild semiconductor.

Charge for something- Building a consumer property dependent upon advertising has easily made many millionaires, but it isn’t the surest path. It takes a lot of time and scale, which due to cashflow issues will require large outside investment probably before you are a millionaire. Build something that you can charge for.

Your metric shouldn’t be dollars- If you’re going after a big enough market and charging a reasonable amount, you can hit a million dollars. Focus on growth, customer acquisition costs, lifetime value of the customer, and churn.

Get as many distribution channels as possible- There is some weird sense that if you build something they will just come. That a few like buttons and emails to editor@techcrunch.com will make your traffic explode + grow consistently. It fucking won’t. Get as many distribution channels as possible. Each one by itself may not be large, but if you have many it starts to add up. It also diversifies your risk. If you’re a 100% SEO play, you’re playing a dangerous dangerous game. You’re fully dependent upon someone else’s rules. If Google bans you, you will be done. Replace SEO with: App store, facebook, etc.

Go with your gut and do not care about fameballing- Go with what your gut says, regardless of how it might look to the rest of the world. Too often we (I) get lost in caring about what people think. It usually leads to a wrong decision. Don’t worry about becoming internet famous or appearing on teh maj0r blogz. Fame is fleeting in the traditional sense. Become famous with your customers. They’re the ones that truly matter. What they think matters and they will ultimately put their money where their mouth is.

Be an unrelenting machine- Brick walls are there to show you how bad you want something. Commit to your goals and do not waver from them a one bit regardless of what else is there. I took this approach to losing weight and fitness. I have not missed a single 5k run in over a year. It did not matter if I had not slept for two days, traveling across the country, or whatever else. If your goals is to become a millionaire, you need to be an unrelenting machine that does not let emotions make you give up / stop. You either get it done with 100% commitment or you don’t. Be a machine.

If it’s a “trend”, it’s too late- This means the barriers to entry are usually too high at this point to have the greatest possible chance of success. Sure you could still make a lot of money in something like the app store or the facebook platform, but the chances are significantly less than they were in the summer of 08 or spring of 2007. You can always revisit past trends though.

If you do focus on a dollar amount, focus on the first $10,000- This usually means you’ve found some repeatable process / minimal traction. ie- if you’re selling a $100 product, you’ve already encountered 100 people who have paid you. From here you can scale up. It’s also a lot easier to take in when you’re looking at numbers. Making 1 million seems hard, but making $10,000 doesn’t seem so hard, right?

Be a master of information- Many think it might be wasteful that I spent so much time on newsyc or read so many tech information sites. It’s not, it’s what gives me an edge. I feel engulfed.

Get out and be social- Even if you’re an introvert, being around people will give you energy. I’m at my worst when I’m isolated from people and at my best when I’ve at least spent some time with close friends (usually who I don’t know from business.)

Make waves, don’t ride them- There was a famous talk Jawed Karim gave from youtube. He described the three factors that made youtube take off. I think they included (1- emergence of flash, so no codecs required 2- one click upload 3- ability to share embed). Find those small pieces and put them together to make the wave. That’s what youtube did imho. The other guys really just rode the wave they created (which is okay).

Say no way more than you say yes- I bet almost every web entrepreneur has encountered this: You demo your product / explain what you’re doing and someone suggests that you do “X feature/idea”. X is a really good idea and maybe even fits in with what you’re doing, but it would take you SO FAR off the path you’re on. If you implemented X it would take a ton of time and morph what you’re doing. It’s also really really hard to say no when it comes from someone well respected like a VC or famous entrepreneur. I mean how the fuck could they be wrong? Hell, they might even write me a check if I do what they say!!!!! Don’t fall for that trap. Instead write the feedback down somewhere as one single data point to consider amongst others. If that same piece of feedback keeps coming up AND it fits within the guidelines of your vision, then you should consider it more seriously. Weight suggestions from paying customers a bit more, since their vote is weighted by dollars.

Be so good they can’t ignore you- I first heard this quote from Marc Andreessen, but he stole it from Steve Martin. Just be so good with what you do that you can’t be ignored. You can surely get away with a boring product with no soul, but being so good you can’t ignore is much more powerful.

Always keep your door/inbox open- You never know who is going to walk through your door + contact you. Serendipity is a beautiful thing. At one point Bill Gates was just a random college kid calling an Albuquerque computer company.

Give yourself every opportunity you can- I use this as a reason why starting a company in silicon valley when it comes to tech is a good idea. You can succeed anywhere in the world, but you certainly have a better chance in the valley. You should give yourself every opportunity possible, especially as an entrepreneur where every advantage counts.

Give yourself credit- This is the thing I do the least of and I’m trying to work on it. What may seem simple+not that revolutionary to anyone ahead of the curve can usually be pure wizardry to the general public, whom is often your customer. Give yourself more credit.

Look for the accessory ecosystem- iPod/iPhone/iPad case manufacturers are making a fortune. Armormount is also making a killing by making flat panel wall mounts. Woothemes makes millions of dollars a year (and growing) selling WordPress themes. There are tons of other areas here, but these are the ones that come to mind first. If there’s a huge new product/shift, there’s usually money to be made in the accessory ecosystem.

Stick with it- Don’t give up too fast. Being broke and not making any money sucks + can often make you think nothing will ever work. Don’t quit when you’re down. If this was easy then everyone would be a millionaire and being a millionaire wouldn’t be anything special. Certainly learn from your mistakes + pivot, but don’t quit just because it didn’t work right away.

Make the illiquid, liquid- I realized this after talking to a friend who helps trade illiquid real estate securities. A bank may have hundreds of millions of assets, but they’re actually worth substantially less if they cannot be moved. If you can help people make something that is illiquid, liquid they will pay you a great deal of money. Giving you a 20-30% cut is worth it, when the opposite is making no money at all.

Productize a service- If you can make what might normally be considered a service into a scaleable, repeatable, and efficient process that makes it seem like a product you can make a good amount of money. In some ways, I feel this is what Michael Dell did with DELL in the early days. Putting together a computer is essentially a service, but he put together a streamlined method of doing things that it really turned it into a product. On a much smaller scale, PSD2XHTML services did this. It’s a service, but the end result + what you pay for really feels like a product.

{source: hackernews}

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Stay Foolish. Stay Hungry

April 14, 2010 by happyrichpinoy · Leave a Comment
Filed under: Success 

I was inspired by MVP’s speech so much that I can’t help but post another great commencement address by no other than Apple’s iconic CEO, Steve Jobs. The text below is Steve Jobs’ commencement address delivered on June 12, 2005 at Stanford University. -happyrichpinoy

I am honored to be with you today at your commencement from one of the finest universities in the world. I never graduated from college. Truth be told, this is the closest I’ve ever gotten to a college graduation. Today I want to tell you three stories from my life. That’s it. No big deal. Just three stories.

The first story is about connecting the dots.

I dropped out of Reed College after the first 6 months, but then stayed around as a drop-in for another 18 months or so before I really quit. So why did I drop out?

It started before I was born. My biological mother was a young, unwed college graduate student, and she decided to put me up for adoption. She felt very strongly that I should be adopted by college graduates, so everything was all set for me to be adopted at birth by a lawyer and his wife. Except that when I popped out they decided at the last minute that they really wanted a girl. So my parents, who were on a waiting list, got a call in the middle of the night asking: “We have an unexpected baby boy; do you want him?” They said: “Of course.” My biological mother later found out that my mother had never graduated from college and that my father had never graduated from high school. She refused to sign the final adoption papers. She only relented a few months later when my parents promised that I would someday go to college.

And 17 years later I did go to college. But I naively chose a college that was almost as expensive as Stanford, and all of my working-class parents’ savings were being spent on my college tuition. After six months, I couldn’t see the value in it. I had no idea what I wanted to do with my life and no idea how college was going to help me figure it out. And here I was spending all of the money my parents had saved their entire life. So I decided to drop out and trust that it would all work out OK. It was pretty scary at the time, but looking back it was one of the best decisions I ever made. The minute I dropped out I could stop taking the required classes that didn’t interest me, and begin dropping in on the ones that looked interesting.

It wasn’t all romantic. I didn’t have a dorm room, so I slept on the floor in friends’ rooms, I returned coke bottles for the 5¢ deposits to buy food with, and I would walk the 7 miles across town every Sunday night to get one good meal a week at the Hare Krishna temple. I loved it. And much of what I stumbled into by following my curiosity and intuition turned out to be priceless later on. Let me give you one example:

Reed College at that time offered perhaps the best calligraphy instruction in the country. Throughout the campus every poster, every label on every drawer, was beautifully hand calligraphed. Because I had dropped out and didn’t have to take the normal classes, I decided to take a calligraphy class to learn how to do this. I learned about serif and san serif typefaces, about varying the amount of space between different letter combinations, about what makes great typography great. It was beautiful, historical, artistically subtle in a way that science can’t capture, and I found it fascinating.

None of this had even a hope of any practical application in my life. But ten years later, when we were designing the first Macintosh computer, it all came back to me. And we designed it all into the Mac. It was the first computer with beautiful typography. If I had never dropped in on that single course in college, the Mac would have never had multiple typefaces or proportionally spaced fonts. And since Windows just copied the Mac, its likely that no personal computer would have them. If I had never dropped out, I would have never dropped in on this calligraphy class, and personal computers might not have the wonderful typography that they do. Of course it was impossible to connect the dots looking forward when I was in college. But it was very, very clear looking backwards ten years later.

Again, you can’t connect the dots looking forward; you can only connect them looking backwards. So you have to trust that the dots will somehow connect in your future. You have to trust in something — your gut, destiny, life, karma, whatever. This approach has never let me down, and it has made all the difference in my life.

My second story is about love and loss.

I was lucky — I found what I loved to do early in life. Woz and I started Apple in my parents garage when I was 20. We worked hard, and in 10 years Apple had grown from just the two of us in a garage into a $2 billion company with over 4000 employees. We had just released our finest creation — the Macintosh — a year earlier, and I had just turned 30. And then I got fired. How can you get fired from a company you started? Well, as Apple grew we hired someone who I thought was very talented to run the company with me, and for the first year or so things went well. But then our visions of the future began to diverge and eventually we had a falling out. When we did, our Board of Directors sided with him. So at 30 I was out. And very publicly out. What had been the focus of my entire adult life was gone, and it was devastating.

I really didn’t know what to do for a few months. I felt that I had let the previous generation of entrepreneurs down – that I had dropped the baton as it was being passed to me. I met with David Packard and Bob Noyce and tried to apologize for screwing up so badly. I was a very public failure, and I even thought about running away from the valley. But something slowly began to dawn on me — I still loved what I did. The turn of events at Apple had not changed that one bit. I had been rejected, but I was still in love. And so I decided to start over.

I didn’t see it then, but it turned out that getting fired from Apple was the best thing that could have ever happened to me. The heaviness of being successful was replaced by the lightness of being a beginner again, less sure about everything. It freed me to enter one of the most creative periods of my life.

During the next five years, I started a company named NeXT, another company named Pixar, and fell in love with an amazing woman who would become my wife. Pixar went on to create the worlds first computer animated feature film, Toy Story, and is now the most successful animation studio in the world. In a remarkable turn of events, Apple bought NeXT, I returned to Apple, and the technology we developed at NeXT is at the heart of Apple’s current renaissance. And Laurene and I have a wonderful family together.

I’m pretty sure none of this would have happened if I hadn’t been fired from Apple. It was awful tasting medicine, but I guess the patient needed it. Sometimes life hits you in the head with a brick. Don’t lose faith. I’m convinced that the only thing that kept me going was that I loved what I did. You’ve got to find what you love. And that is as true for your work as it is for your lovers. Your work is going to fill a large part of your life, and the only way to be truly satisfied is to do what you believe is great work. And the only way to do great work is to love what you do. If you haven’t found it yet, keep looking. Don’t settle. As with all matters of the heart, you’ll know when you find it. And, like any great relationship, it just gets better and better as the years roll on. So keep looking until you find it. Don’t settle.

My third story is about death.

When I was 17, I read a quote that went something like: “If you live each day as if it was your last, someday you’ll most certainly be right.” It made an impression on me, and since then, for the past 33 years, I have looked in the mirror every morning and asked myself: “If today were the last day of my life, would I want to do what I am about to do today?” And whenever the answer has been “No” for too many days in a row, I know I need to change something.

Remembering that I’ll be dead soon is the most important tool I’ve ever encountered to help me make the big choices in life. Because almost everything — all external expectations, all pride, all fear of embarrassment or failure – these things just fall away in the face of death, leaving only what is truly important. Remembering that you are going to die is the best way I know to avoid the trap of thinking you have something to lose. You are already naked. There is no reason not to follow your heart.

About a year ago I was diagnosed with cancer. I had a scan at 7:30 in the morning, and it clearly showed a tumor on my pancreas. I didn’t even know what a pancreas was. The doctors told me this was almost certainly a type of cancer that is incurable, and that I should expect to live no longer than three to six months. My doctor advised me to go home and get my affairs in order, which is doctor’s code for prepare to die. It means to try to tell your kids everything you thought you’d have the next 10 years to tell them in just a few months. It means to make sure everything is buttoned up so that it will be as easy as possible for your family. It means to say your goodbyes.

I lived with that diagnosis all day. Later that evening I had a biopsy, where they stuck an endoscope down my throat, through my stomach and into my intestines, put a needle into my pancreas and got a few cells from the tumor. I was sedated, but my wife, who was there, told me that when they viewed the cells under a microscope the doctors started crying because it turned out to be a very rare form of pancreatic cancer that is curable with surgery. I had the surgery and I’m fine now.

This was the closest I’ve been to facing death, and I hope its the closest I get for a few more decades. Having lived through it, I can now say this to you with a bit more certainty than when death was a useful but purely intellectual concept:

No one wants to die. Even people who want to go to heaven don’t want to die to get there. And yet death is the destination we all share. No one has ever escaped it. And that is as it should be, because Death is very likely the single best invention of Life. It is Life’s change agent. It clears out the old to make way for the new. Right now the new is you, but someday not too long from now, you will gradually become the old and be cleared away. Sorry to be so dramatic, but it is quite true.

Your time is limited, so don’t waste it living someone else’s life. Don’t be trapped by dogma — which is living with the results of other people’s thinking. Don’t let the noise of others’ opinions drown out your own inner voice. And most important, have the courage to follow your heart and intuition. They somehow already know what you truly want to become. Everything else is secondary.

When I was young, there was an amazing publication called The Whole Earth Catalog, which was one of the bibles of my generation. It was created by a fellow named Stewart Brand not far from here in Menlo Park, and he brought it to life with his poetic touch. This was in the late 1960′s, before personal computers and desktop publishing, so it was all made with typewriters, scissors, and polaroid cameras. It was sort of like Google in paperback form, 35 years before Google came along: it was idealistic, and overflowing with neat tools and great notions.

Stewart and his team put out several issues of The Whole Earth Catalog, and then when it had run its course, they put out a final issue. It was the mid-1970s, and I was your age. On the back cover of their final issue was a photograph of an early morning country road, the kind you might find yourself hitchhiking on if you were so adventurous. Beneath it were the words: “Stay Hungry. Stay Foolish.” It was their farewell message as they signed off. Stay Hungry. Stay Foolish. And I have always wished that for myself. And now, as you graduate to begin anew, I wish that for you.

Stay Hungry. Stay Foolish.

Thank you all very much.

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Manny V. Pangilinan Commencement Address

April 14, 2010 by happyrichpinoy · Leave a Comment
Filed under: Success 

Say what you will about MVP’s “borrowed” speech but one cannot help but be inspired by his message. – happyrichpinoy

School of Humanities & School of Social Sciences
Ateneo de Manila University, Quezon City
4:00 p.m., Saturday, 27th March 2010

Magandang hapon sa inyong lahat. I want to thank Father Ben and the Ateneo community for the honor of this doctorate degree. And congratulations to our Law School for having 7 of the 11 – ten topnotchers – in the recent bar exams!

Father Nebres, Father Magadia, trustees, faculty and staff, parents and siblings, graduates of 2010 – many congratulations. Thank you so much for this gift of fellowship with the sesquicentennial class. You‘ve earned your diploma from a great learning institution, and you have every right to be proud. I have wracked my mind and heart with what I should say today. The weeks of fear and worry at the thought of giving this commencement address have made me lose weight, and sleep. And I‘ve asked myself, what I wish I had known at my own graduation day 44 years ago.

The sad truth is that I don‘t even remember who the speaker was at my graduation, or a single word that was said. So I begin these remarks with the expectation that I will soon be forgotten. I‘ve been cautioned that on an occasion as this, graduates are only thinking one of the following thoughts: one – I hope these ceremonies finish soon because I can‘t wait to take my vacation. Two – inspire me please. There aren‘t too many doing that these days. Three – If MVP stops talking before I stop listening, I‘ll give him a big applause. Four –If you hand out free tickets to the Justin Timberlake concert tonight, we‘d give you a standing ovation. Yes, I’m happy to say that Smart will be giving away four free tickets right after this ceremony! Now that you‘ve been sufficiently humored and bribed, let me earn my honorary degree, and turn thoughtful and traditional. More to do, more to achieve I come here today with the thought that despite what may seem to be the culmination of a successful life with this honorary degree, there‘s still much to do. I come to say that one‘s title, even an honor like this, says little about how well one‘s life has been led –that no matter how much you‘ve done, or how successful you‘ve been, there‘s always more to learn, more to do, more to accomplish. So I want to say to all of you, that despite your remarkable achievement, you too cannot rest on your laurels.

Some graduating classes in the past have marched into this place in times of peace and progress. In those easy times, we could have called on you to keep things merely going, and not screw things up. But we‘re gathered here at a time of trial and transition, not only for this country but also for the world. Our economy slowed down last year because of a global recession – the result, in part, of greed and irresponsibility that rippled out from Wall Street. We continue to spend beyond our means. We avoid making the tough, unpopular choices. And in 44 days, we will elect a new set of national and local leaders. For all of you, these challenges are felt now in more immediate and personal terms. You will soon be looking for a job – struggling to figure out which career makes sense in this economy of ours. Maybe you have loans, and are worried how you‘ll pay them down. Maybe you‘ve got a family to help. Maybe you‘re asking how your siblings can have an Ateneo education like you had. Against these issues, you may be tempted to fall back on the more visible markers of success — by chasing the usual brass rings. How much money you make, a fancy title or a nice car. Being on the roster of the ?rich and famous (or the ?most invited) guest list. But the choice of form over substance, fame over character, short-term gain over long-term goal is precisely what your generation needs to end.

Defining success

Coming from the Ateneo, I know that the pressure to succeed is immense. In fact, your biggest liability is the need to succeed. And your biggest fear must be the fear of failure. But first, let me define what success is. Let me tell you, money‘s pretty cool. I‘m not going to stand here and tell you that‘s it‘s not about money, because money is sweet. I like money. It‘s good for buying companies and things – and for putting up a few buildings here and there for Ateneo. But having a lot of money does not totally make you a successful person. What you want is both money and meaning. You want your life and your career to be meaningful. Because meaning is what brings real richness to your life, to be surrounded by people you can truly work with – because you trust and treasure them, and they cherish you in return. That‘s when you‘re really rich, that‘s when you really succeed.

Fear of failure

Let me now deal with failure. On this wonderful day when you stand on the threshold of what is called ?real life, it is – ironically – the best time to talk about failure. Nobody‘s life is seamless or smooth. We all stumble. We all have setbacks. If things go wrong, you hit a dead end – as you will, many times in your life – it‘s just life‘s way of saying – time to change course. Now I cannot tell you that failure is fun. Periods of failure in my life were dark ones. I‘ve had a lot of success. But I‘ve had a lot of failures. I‘ve looked good. I‘ve looked bad. I‘ve been praised and criticized. And it hurt like hell. But my mistakes have been necessary. I had no idea how far the tunnel of failure extended. And any light at the end of it seemed more hope than reality.

Now let me tell you about some of my biggest failures.

In 1995, first pacific invested in telecommunications in India at a time when the industry there was just getting started. Under the laws of India, foreign investors are allowed to own not more than 49% of a local telco. So we invited an Indian partner to hold the 51% majority. You all know how capital intensive the telco business is. To our utmost regret, our partner could not provide the counterpart capital. The relationship soured, and we had to sell the business. Since then, India‘s telecoms industry has grown exponentially. So we lost significant value by divesting. If we had managed to retain this business, I would not need to make a living giving graduation speeches. But I have had personal failures as well.

I will now let you in on a well-kept secret. I was in 4th year high school in San Beda College, and was in contention to be valedictorian that year. It was an open secret that majority of my classmates were cheating –changing answers from true to false, ironically, in our religion exams. I felt I had to do the same to protect my grades. Several of us were caught – pero ako ang pinag-initan. I knew I was wrong, and deserved to be punished. Indeed, San Beda stripped me of all my honors. Finally, with the suspicion about rampant cheating, I was asked by the principal to name names. I refused. I disappointed my parents deeply. It took many years for the pain and bitterness to heal. Several years ago, I thought it was time to free myself from the rancor and memory of that experience. What better proof of reconciliation with San Beda than the 3 NCAA championships for the Red Lions?

Failure taught me lessons about myself that I could have learned no other way. I discovered that I had a strong will, and more discipline than I had imagined: I also found out that I had parents whose value was truly priceless. The knowledge that you have emerged wiser and stronger from setbacks means that you can be secure in your ability to survive. You will never truly know yourself, or the strength of your relationships, until both have been tested by adversity. And so rock bottom became the solid foundation on which I rebuilt my life, my career and, most importantly, my moral values. So graduates, always remember this – success is never final. Failure is never fatal. It is courage that counts. MVP‘s lessons for life as I come near the end of my remarks, let me wrap up with some old-fashioned, feel-good graduation advice:

First, hug and kiss those who helped get you to this day – parents, grandparents, friends, teachers. If you’re too shy or uptight to do that, please do the old fashioned handshake thing. But I recommend a hug and a kiss. Don’t let the sun go down today without saying thank you to someone.

Second, don’t forget that you have a body under your toga. Take good care of it. Engage in sports. It‘s fun, and it is a laboratory for victory and adversity. How an athlete celebrates his triumphs, or overcomes defeat or injury, how he deals with a hostile crowd or a critical media, reflects what life is all about. Indeed, sports offers a richness all its own – it is a metaphor for life.

Third, remember you have brains under that mortarboard. You‘ve been running it like crazy for four years, whining about all the books you’ve had to read, the papers you’ve had to write, the tests you’ve had to take. Yet thanks to that versatile, gigabyte hard-drive of yours, and a million Starbucks cups, you made it today.

Fourth, give one peso for every ten you earn. I saw my mother pass away 8 years ago, and she left this world without anything. Which means you’re not the owner of what you think you own – you’re only a steward, because everything‘s on loan. So pass some of it on. If you don’t, government will just take it anyway.

Conclusion

As today‘s door closes softly between us, those are my parting words. But there will be other partings and other last words in your lives. But today will not be complete without acknowledging what Father Ben has done for the Ateneo these past 17 years as the university‘s longest serving president – the new Loyola Schools, all the new buildings, the UAAP championships and the bonfires. It has been a pleasure working with him. Thank you so much Father Ben.

I do have one last word for you, if I may. This was a gift when I graduated at the age of 19 – the gift of friends with whom I sat on graduation day, who remain my friends for life. So today, I wish you nothing better than similar friendships. And tomorrow, I hope that even if you remember not a single word of mine, you will recall those of Seneca, one of the old Romans i met in search of ancient wisdom: ?as is a tale, so is life: not how long it is, but how good it is, is what matters. I will now let you go. Through God‘s providence, may each of you travel well that precious journey called life. And may your future be worthy of your dreams. My deepest thanks for the courtesy and honor you all have shared with me. Many congratulations. God bless you all. Good day and good life.

{source: abs-cbnnews.com}

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Still Face Experiment

March 16, 2010 by happyrichpinoy · Leave a Comment
Filed under: Cool 

This video is a stunning demonstration of  the cognitive abilities of infants to read and react to their social surroundings. Using the “Still Face” Experiment, in which a mother denies her baby attention for a short period of time, Dr. Tronick describes how prolonged lack of attention can move an infant from good socialization, to periods of bad but repairable socialization. In “ugly” situations the child does not receive any chance to return to the good, and may become stuck.

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Stanford Research on Happiness and Meaning

March 13, 2010 by happyrichpinoy · Leave a Comment
Filed under: Happiness 

happiness

Another great post on HackerNews by bpang about Stanford research on happiness and meaning:

I’m currently taking a class from Prof. Jennifer Aaker at Stanford GSB. She’s known for research on happiness – quite a profound topic. Here are some findings I thought are interesting:

50% of it is determined by birt or genetics. Circumstances such as marital status, earnings, and looks determine 10%, and the remainder comes from intentional activities or things we can do to change our happiness level.

Researchers postulate that each individual has a “set point” for happiness, which is largely determined by birth and genes. Deviations from that point tend to be short-lived.

How does money affect happiness? Once people are free from deprivation, the tie between money and happiness begins to fray. There’s generally positive correlation but money yields diminishing returns.

Middle-class and affluent people are often stuck on a “hedonic treadmill” as they sacrifice personal relationships for diminishing returns.

They why do people pursue wealth? Psychologists argue that they are seeking “positional advantage.” Most people are happy with less money on one condition – “everyone else is also making less.”

In contrast, traits such as self-confidence and energy correlated with happiness.

What can we do to be happier?

(1) Time shift: First how many hours of deep, hard thinking do you get done each day?

(2) Work on projects you LOVE (not like): It releases happiness in your brain! People become more effective when the brain releases endorphines!

(3) Reframe expectations: An example: http://bit.ly/LouisCK10 People take technology for granted today and forget about the very recent past. Lowering expectations brings happiness. Take yourself less seriously.

(4) Create a reward system: Rewards make people happy. Try to create rewards, even small ones.

(5) Carve out clear areas of incompetence: Claim areas of incompetence! Admit it.

(6) Cultivate emotion contagion

(7) Create sticky memories: the “who” and “what” are important. Research (in the US) has also found that morning and night memories are stickier, as well as Christmas – the most memorable holiday. A few tips: “Perceived” free time is important! Social skills: Typically there are 8 close committed relationships. family, close friends, siblings, partners, etc. Dancing: makes people happy! Volunteering: People who report time and money report greater well-being! Being Part of SOmething Bigger Not money! you just need enough money to live happily. Research also found that spending money on your friends and people you care actually makes you happier.

(8) Improve sense of humor!

She also discussed the “Six Selves Model”: friends, parent, partner, work, community/spirituality, and health, which are the foundations of personal happiness. Try to allocate time over these different areas. Although you can be very busy, identify “temporal sweetspots”. Allocate quality attention to each spot, even if it’s temporal. She further suggested listing favorite traditions to build habits.

{photo credit: poojabrahmi}

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