How do you make Billions? Spend two hours a day six days a week writing in a storage locker with one chair with your best friend and then repeat that (kinda) for twenty years.

notes at http://thewaiterspad.com/2018/04/10/katrina-lake

In summary, Danielle Weisberg and Carly Zakin have succeeded because they noticed poor product-market fit and made a small bet to build something using their existing skills and being curious along the way. Once their brand snowball got rolling, they focused on strengthening it and are now expanding to other areas.

More notes at https://thewaiterspad.com/2018/03/19/theskimm/

- Why does alpha erosion occur?

- How are business moats built?

- Who are the best capital allocators?

Show notes at: http://thewaiterspad.com/2018/03/01/moats-and-allocators

David Ogilvy was known for his advertising 'rules.' After diving deeper into his work I found out these aren't really rules at all but conclusions. Ogilvy's first principle is *do what works*. This episode will focus on three things that anyone in any industry can do.

1/ He was objective in his research. If the facts differ from your beliefs, change your beliefs rather than the facts.

2/ He created advertising around big ideas. Images should aim to inspire intrigue, not win awards at Cannes.

3/ He groomed a culture. Hire "gentlemen with brains" and give them the autonomy to do good work. Also, avoid bureaucratic bloat. "If you were a dairy farmer and kept cows, would you employ twice as many milkers as you have cows?"

A pdf of this is available at http://thewaiterspad.com

A few things that caught my eye. Notes at http://thewaiterspad.com

Why is Nick Saban undefeated against former assistant coaches?

Why is Philadelphia an undefeated home underdog?

Why are there called strikes in betting pools?

Why is visualizing data so helpful?

Why is novel data helpful too?

Why is a bit identity footprint better?

More details at: http://thewaiterspad.com

Arthur's paper: http://www.iwp.jku.at/born/mpwfst/02/BArthur/Arthur_B.pdf

Mauboussin's interview: https://overcast.fm/+Iz-J-F6_E

Inspiration: http://amzn.to/2kf2xXW

Part two of the audio version of these posts: https://thewaiterspad.com/?s=%22TIL2017+Summary+Series%22

An audio version of the end-of-year posts at http://thewaiterspad.com