with Auren
Hoffman
Month of March,
2001
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Summation Push Auren Hoffman's Summation Push for
March, 2001 This issue:
* Ban da Bagels: Bagels Kill Innocent People?
* Next M&A Target Prediction: Inktomi
* Support Edison Charter School
* Friends of Auren
* Summation Push Pick Links
* Hoffman Reading List -------------------------------- LEARNING FROM WAYNE GRETSKY
The player with 100% shooting percentage could be a much worse player than one with a 20% shooting percentage if the first player only scores one goal all year. By contrast, the player with 20% shooting percentage could be taking 10 shots per game and scoring 2.
Wayne Gretzky's saying "you miss 100% of the shots you don't take" is an adjunct to the "perfect is the enemy of the good." Gretzky is saying try, take your best shot (literally and figuratively), and if it doesn't work take another shot. Don't try to be perfect all the time -- try to be good and be good a lot. Because if you don't take a shot just because it is not a high percentage shot, it could really be a missed opportunity.
I call this the law of large numbers. If you make 20 sales calls a day and get 3 sales it is better than making 10 sales calls a day and getting 2 sales (even though the person who made 10 sales calls has a higher percentage). Law of large numbers is why that ugly guy with no personality has a terrific date every Saturday night. BECAUSE HE ASKS. He might have to ask 5 people to get one date but to him it is better than the alternative (asking less people and having no dates).
To succeed at business you have got to take shots. You have got to go out on a limb and try. And every time you take a shot you get better and better.
I was reading an article once where the author was remembering being at an airport 8-9 years ago and saw a funny looking man impatiently waiting alone for the same plane. The author looked at the man and assumed he was successful but the author did not go up to him and talk to him. Turns out that the author saw the man on Larry King Live a few weeks later -- it was Ross Perot -- at the time one of the richest and most powerful people in the country.
The lesson here is that there was nothing for the author to lose by introducing himself to the strange man. Maybe 9 out of 10 times Ross Perot would not be interested in talking to him, but 10% of the time this could have been translated into a good contact for the author. It turns out the author was in real estate in Texas. And do you know who's one of the biggest real estate moguls in Texas? You guessed it -- Ross Perot.
Remember that "you miss 100% of the shots you don't take." Resolve to yourself not to miss any opportunities.
(Does Wayne Gretsky inspire you? Write auren@summation.net) -------------------------------- Send Summation Push to a
colleague. -------------------------------- NOTE: I was sent the document below by the consumer rights group Americans Against Bagels (AAB). Hand injuries are becoming increasingly common. Hand injuries happen through various acts such as repetitive stress injury (from frequent use of a computer, for example) and from working in a machine shop. But the number one cause of hand injuries is cooking. Sharp knives. And the number one perpetrator is bagels.
That's right, bagels -- those evil things with the hole in it that remind us of doughnuts but are far more sinister because people feel they need to cut them.
Bagels are the cause of thousands of accidents every year. Many people lose fingers or severely cut their hand when cutting bagels. There are even reports of deaths from people who accidentally slit their wrists. Bagels can kill.
A dozen bagels might look like a tasty treat for some, but for many, it is an accident waiting to happen.
For years, independent research has shown the disastrous effects of bagels. But the bagel lobby, one of the more powerful behind-the-scenes groups in Washington, has consistently blocked this research from reaching the media or Congressional hearings on hand safety. The bagel lobby has also blocked many sensible and very-American measures that help families peacefully enjoy their bagels.
The bagel lobby of course says, "Bagels don't injure people, people injure people."
But more sinister are the bagel companies themselves. Bagel producers' own researchers and statisticians show that people who cut bagels are four times more likely to cut themselves than people who cut carrots and even three times more likely than people who cut English muffins (though smart people know that English muffins are much more tasty when pulled apart). Bagel producers also make more money when they can sell consumers specialty bagels -- like the onion bagel. But these bagel makers fail to tell consumers that the onion bagel is far more slippery than a plain bagel, which increases one's chances of injury.
The federal government must act -- Bagel makers beware.
The federal government must join the many class action lawsuits circulating through the courts. But the bagel lobby (recently joined by the shmear lobby) is quietly putting a bill through Congress which will exempt bagel producers from any punitive damages from these lawsuits.
But the federal government and the people of America should not be fooled. Bagels are dangerous. However, instead of banning bagels completely (as many countries have done), we need to find a safe way to enjoy one of New York's most eerie creations. Here are the cornerstone proposals: * All un-cut bagels sold in stores should come with big bright orange warning labels warning of the bagel's danger and imploring caution. "Before cutting this bagel, please make sure your hands are clean and dry. Cut away from your body. Do not attempt to cut the bagel without at least one end of the bagel on a cutting board. Do not eat the bagel while cutting (might result in mouth injuries). To reduce risk of hand injury, do not cut bagel at all (just dip the bagel in its entirety into the shmear)." * Kids under 14 should not be allowed to buy bagels without an adult present. All bagel sales should require the cashier to check identification and verify age. Kids should be supervised at all times when eating bagels. * Send free bagel cutters to all U.S. Households. Bagel cutters, when bought in bulk, can run as low as $10 + $5 shipping and handling. If there are 150 million households in the U.S., this entire program will only cost $2.25 billion. This is a cheap way of preventing injuries and it will save the U.S. government more money to be anticipatory. Remember, the average hand injury costs over $5,000 to fix (and it hurts really bad). * Bagels should be regulated and taxed. All bagels should have a five cent excise tax assessed by the federal government. More importantly, the government should outlaw any bagel that is greater than 50% more slippery than an average plain bagel. * We need universal healthcare -- and we need it to include care for all the common bagel injuries (including choking). In conclusion: Blood (from cutting yourself while near a bagel) is red
Bagels gone bad with mold is blue
The federal government must make this place safe for all Or this world will become a zoo (Are you cut up about this? Write auren@summation.net) -------------------------------- Send Summation Push to a
colleague. and Vipur Andleigh from Accenture writes:
"Your summation is cool -- its refreshing to get something creative every once in a while. While I don't agree with some of your points of view politically, it is insightful to read 'the other side.' keep it up."
-------------------------------- Send Summation Push to a
colleague. -------------------------------- Inktomi (http://quote.yahoo.com/q?s=INKT/) might just be the next high flying Internet company to be purchased. Inktomi is a terrific company with terrific products and terrific future. But because of its recently falling stock price, it has an attractive valuation. Though Internet M&A activity has all but dried up in recent months, we might see the acquisition of Inktomi spark a resurgence. You heard it here first. -------------------------------- Send Summation Push to a
colleague. -------------------------------- In SF, teacher's unions are trying to take down the Edison charter school -- one of the more successful schools in the city. Why? Because it teaches kids too much, pays its teachers more money, and has longer hours. A good article in the SF Chronicle: http://www.sfgate.com/cgi-bin/article.cgi?file=/chronicle/archive/2001/01/28/ED119688.DTL-------------------------------- Send Summation Push to a
colleague. -------------------------------- FRIENDS OF AUREN (FOA) [this section updates you an interesting person
that is a member of Auren Inc] Dan Engel, Entrepreneur-in-Residence at Idealab I grew up with Dan in New York. He's the younger brother of Eric Engel, one of my high school friends. Dan, now 24, is at Idealab serving as an Entrepreneur-in-Residence. Before that, Dan was at LiveSky Solutions (http://www.liveskysolutions.com), a wireless systems integration/strategic consulting company, which he helped build from idea stage to a 30 person venture funded organization. Prior to joining LiveSky, Dan was an Entrepreneur in Residence at Reach Ventures, a high tech venture acceleration company in Boston. Prior to Reach, Dan was the CEO and Founder of GrapeApe.com -- a magazine subscription e-commerce company. Dan attended Tulane University and now lives in Cambridge, Mass. -------------------------------- Send Summation Push to a
colleague. -------------------------------- THIS WEEK'S SUMMATION PUSH PICK
LINKS:
* refdesk.com (http://www.refdesk.com/)
-- one of the best reference pages on the web.
NOTE: Auren Hoffman works for BridgePath.com but the opinions
expressed herein are solely those of Mr. Hoffman. NOTE: You may reprint in full or in part (for
free) with permission from author.
Auren Hoffman's bio can be found at:(http://www.bridgepath.com/about/management.html/)
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