I had picked up this book from a small bookstore in Riverside, CA on my way to Australia and New Zealand last month. Had not expected much but turned out to be a very interesting book. By the way, two weeks back, I was in Boston and while strolling thru Beacon Hill, chanced upon a cute little bookstore with a cafe. Went in and guess what – there were four of these books right there in front of me as I entered!! Never thought I would see another copy of this book.

Well, turns out this book has nothing to do with meditations. Not one word of it. What it is though is about how to make your time in life count. If you read this book, be prepared for a lot of contrarian thoughts. Including why Todo Lists, 4 quadrants and Streaks are actually detrimental to you…

Here are some interesting lines from the book…

1. Once you realize that you will never be able to go thru all your action items – there are indeed infinite of them – and you will never ever get done – a psychological shift happens where you unclench and get relaxed. Perhaps focus on what you are doing now more.

2. The real way to optimize your finite time is not task lists and prioritization schemes. Take the thing that inspires you most and just do it for some time. That which seems like a false step is just the next step.

3. There are no solutions. Only trade offs. You are free to do whatever you want. As long as you are okay paying for the consequences.

4. “One never notices what has been done; one can see what remains to be done” – Marie Curie. One interesting idea – maintain a “done list”

5. Resist the urge to stockpile knowledge. Read like the book/magazine is a flowing river. No need to finish it. Sometimes, it is ok to read just whatever seems fun.

6. “The art of being wise is the art of knowing what to overlook”. Social media / news channels do not care about the news itself. They care about your attention. Most of us have started “living inside the news”.

7. Let the future be the future. Today is the tomorrow you were worrying about yesterday.

8. Driving in the night, you cannot see further than your headlights. And you can go thousands of miles just that way.

9. Every worthwhile goal is supposed to feel hard, unglamorous, unsexy at least some of the time you’re actually putting in the work.

10. “Dailyish” is the best frequency. Do not need to do everyday to grow a habit. You can ignore those apps that advertise “don’t break the chain”

11. Develop a taste for problems. “Beyond the mountains, more mountains” – Haitian proverb. Life is not a race to a state of no problems. Life IS an unending series of complications. Live it.

12. “Inspiration is for amateurs. The rest of us just show up and get to work.” – Chuck Close

13. “I only write when inspiration strikes. Fortunately, it strikes at nine every morning.”

14. Act on a generous impulse the moment it arises. Do not wait.

15. Everything that happens in life is either a good time or a good story. “It helps if you can realize that this part of the life when you don’t know what’s coming is often the part that people look back with the greatest affection.” – Ann Patchett

16. Fire your inner quality controller. Set quantity goals. Quality will flow someday from quantity.

17. Not enjoying the present moment in an endeavor to enjoy some future ones is akin to not enjoying time with your cat so that you can enjoy time with the cat’s kittens. Or the cat’s kittens’ kittens.

18. “To treat life as a pilgrimage to a future and better existence is to disown its present value” – W. Somerset Maugham

19. Everyone is screwed up, broken, clingy and scared, even the people who seem to have it more or less together. They are much more like you than you would believe. So, try not to compare your insides with their outsides.

20. You cannot hoard life. Enjoy the moment and let it pass.

The publisher should be taken to task for really atrocious editing. There are words that are unfinished, random letters showing up all over and even paragraphs and pages being repeated. This was very hard to read.

I had bought this book to read the essay “The Gospel of Wealth” by none other than the industrialist Andrew Carnegie who had become the richest person in the world. Not to suggest that I have a problem of wealth that he did, but I am getting more and more curious about how to dispose of a couple of dollars I might have left when I die. A friend from Scotland had mentioned that my philosophies of money matches his and that I should read it. (I did not know Carnegie was Scottish, so my friend might have had a vested interest here 🙂 )

Once I got past the editor’s obvious sleeping at the desk, I absolutely loved the messages Carnegie has.

On making money

First, he establishes that capitalism is the right thing. Socialism cannot work in the long term. He believes there is nothing wrong with only some people making a lot of money thru the dint of their hard work and talent. As long as done ethically and with integrity. The society and community should be structured to let the hard working and talented make a lot of money.

Second, he is dead against being rich thru inheritance. Wealth has to be made by yourself thru hard work, he says. And on this, he feels people born poor have slight advantage that they are likely to strive harder than those who already have money. More on inheritance later.

Third, he is dead against wealthy people showing off or living lavish lives. To him, there are two phases of life – you work hard to make money and then you find the best way to dispose of it. It is not about consuming it yourself in excess.

So, how do you dispose of it?

This is where he believes that with great wealth comes great responsibility. He describes somebody who dies with a lot of money in the bank as “The man who dies thus rich dies disgraced”.

How not to dispose of money

First, he is against indiscriminate charity. To him that is thoughtless and taking the easy way out. He believes the wealthy man has far greater responsibility than throw away money to charity. Also, he is severe in his criticism of how much money given to charity actually reaches the folks for who the charity is raised.

Second, he does not believe too much money should be given to children. Just enough so that they may not come to terrible days. He suggests “moderate sources of income” for the wife and daughters and “very moderate, if any, moderate allowances” for the sons. (Of course, this is set in a society where women had a different place than modern America).

For this reason, he favored heavy taxation on inheritance. To him, the “State (needs to) mark its condemnation of the selfish millionaire’s unworthy life”.

How to dispose of money

To Carnegie, one needs to make the wealth work for greater good of the community. The person needs to take active interest in the utilization of that wealth. It should be a cause for the society or community for a greater good. Above all, it has to be something the person feels passionate about. If one has no particular passion about a greater good for the community, Carnegie considers them selfish for benefitting from the community but having no interest in the community’s good.

His suggestion is to create a trust fund. And then he gives some ideas he personally has. But he leaves it to the individual’s judgment and passion. His suggestions, in order of his personal interests are

(*) University or any institution of education or knowledge
(*) Library
(*) Hospitals (or medical colleges, labs and institutions involved in alleviation of human suffering)
(*) Public Parks
(*) Halls/Galleries for music and art
(*) Swimming baths!! (this was interesting. It seems in England those days, this was common – not so in America). I guess, this would be what we call community swimming pools today
(*) Churches

In summary, in his own words…

“To set an example of modest, unostentatious living, shunning display or extravagance; to prove moderately for the legitimate wants of those dependent upon him; and, after doing so, to consider all surplus revenues which come to him simply as trust funds, which he is called upon to administer, and strictly bound as a matter of duty to administer in the manner which, in his judgment, is best calculated to produce the most beneficial results for the community.”

Now, this book has a few other essays if you want. I was intrigued by his take on “Capital versus Labor” (which is going to be anathema to most all Private Equity firms). He is of the opinion Capital and Labor are not against each other and that the permanent relationship between those two have not been set yet. He is an ardent believer of labor unions and explains why this is a good thing.

There are other essays like “Americanism versus Imperialism” and “Democracy in Europe” if you are interested.

by Margareta Magnusson

I will start with the verdict – Avoid!

One of my pen friends from Down Under had asked if I had read this book. We were talking about how to prepare for the last stage of life. And having watched my brother and sister having to clean up after my parents when they passed away, I want to make sure I have organized myself enough that it would be very easy for my wife and daughters to take care of my stuff when I die.

My friend actually has created his checklist and gives talk on this topic. I found his list to be informative and educational.

This book, on the other hand was a waste of time. It basically is a rambling of some memories the author has and is interjected into the narrative without any lucidity or continuity.

The couple of pearls of wisdoms it does impart – like the fallacy of hoarding stuff and all that – should be fairly evident to anybody who even shows a modicum of interest in this topic to pick up the book.

So, a rare thumbs down from me.

“Why big systems make terrible decisions – and how the world lost its mind”

This is a freshly published book (just came out a few months back) and still not available in the digital version. I had to get my hard copy delivered from Great Britain.

It is a fairly dense and interesting book.

It basically establishes the concept of “accountability sinks”. How post war, certain systems came of being where effective walls were built such that no one could be held accountable. It starts with the story of the airline passenger who got bumped off his seat but cannot talk to any manager because it is not there in their “policies”. By citing something as a “policy”, management can effectively shirk from accountability that is required in exception cases. (Policies are still required for 99.99% of the cases).

It talks of how the financial system has effectively created many accountability sinks which has led it to behave for short term gains till the whole system collapses upon itself – as we have seen in the many financial crises and then the average taxpayer is left with the burden.

It talks about how government and politicians have created accountability sinks – e.g. different agencies, where any economic disaster can be blamed on the Fed (or central banks) whereas people vote their government directly to fix their problems in the economy.

The book shines a particular spotlight on how the Private Equity firms are creating havoc by behaving in a short term way by leveraging debt-laden buyouts. He points to how companies post war went from being a lot more employee and society conscious (they were big then too but short term profit was only one of the motives) to today’s world where shareholder value is the sole motive backed by Friedman’s philosophies.

He also directs a lot of his ire towards economists in general, Friedman in particular, who he says tries endlessly to fit the world into their pre-conceived models rather than the other way round.

He points out how globalization, outsourcing and such constructs completely broke down the information flow and led to further short term behaviors by companies.

Finally, he explains this rise of the investor class has created a deep schism in the society where nobody needs to take accountability for the real challenges of the common person. He points to how this has created a sense of helplessness and anger, how news channels like Fox figured out how to productize that rage and sell it and the eventual rise of populist leaders like Trump or Modi. This, he says is nothing but a cry from that populace for help.

Dan, an ardent student of cybernetics, uses a lot of concepts from the science of cybernetics (which kind of faded away once technology took over) to explain how to think of what is happening in the various systems. I, for one, learnt the contribution of Stafford Beers for the first time. I loved one quote of Beers where he laments that when we discovered fast information processing systems like computers, instead of using that increased information flow to rethink systems (e.g. management structures) that were built in the previous two hundred years, we applied them to do accounting (crunch numbers). He compares this to getting Einstein, Feynman and the likes to a room and see if they can figure out how to count sheep in a field faster than a shepherd can do today – or something like that!

Whether you agree to his views or not, the author will make you think. Again, a fairly deep book and deserving of a second read. But a dense book – especially the concepts of cybernetics needs careful understanding. So, give yourself some time if you pick this book up.

This is one of those books that totally gets me. I cannot possibly overemphasize the importance of reading this book if you are a leader of any kind – business, community, politics or even of your own household. The book, at least for me, articulates eloquently the struggle I have had with simplistic solutions I hear in business world on how to solve problems – “right talent” often being suggested as the panacea. This book – along with a cursory reading of a book like The Drunkards Walk should give a sobering thought to anybody who wants to be a leader.

By the way, I got to know about this book while listening to a Ted Talk by Rory Sutherland. Another guy with some great concepts

I am quoting a few paragraphs together from the book as is but there is simply no substitute to reading the book. And if you do read the book, call me. Would love to discuss your thoughts.

Excerpts:

The success of the physical sciences has encouraged us to believe there might be a science of decision making. All kinds of problems in our business and our financial lives, in the political and personal spheres, could then be managed objectively. Such a scientific procedure would, if done carefully enough, lead every conscientious person to the same answer. As a result, both political and personal disputes could be resolved by applying evidence and rational discourse. The distinction of the great business leader, the measure of financial acumen, would rest only in the ability to arrive at the right answer faster than other people.

Obliquity is the best approach whenever complex systems evolve in an uncertain environment and whenever the effect of our actions depends on the ways in which others respond to them. There is a role for carrots and sticks, but to rely on carrots and sticks alone is effective only when we employ donkeys and we are sure exactly what we want the donkeys to do. Directness is only appropriate when the environment is stable, objectives are one-dimensional and transparent and it is possible to determine when and whether goals have been achieved. The world of politics and business today is afflicted by many hedgehogs, men and women who mistakenly believe the world is like that.



I believe it was Roger who had pointed me to this book. The book was about how a couple (almost my age) sold their home in the USA and lived in other countries. The sentiment so violently aligned with my thoughts and dreams that I bought the book and jumped my “To Read” queue and brought it to the fore.

Somewhat expectedly, the book is about the experiences the author and her husband had while living in a cruise ship and 9 other countries – all in the Americas or Europe (with the exception of Morocco). It is an anthology of various snippets of events that happened to them. Undoubtedly the stories were very interesting. There is lucidity in her writing and some sense of humor too! The author was featured in Wall Street Journal.

That said, it completely disappointed me. The main reason is that my expectations were very different. The 9 countries were all covered in a matter of year and a half or so. So, it was really a few weeks to a couple of months max at any place. I was looking for a little more – maybe 3-5 years in a place. Perhaps, that is what my dream is and that is why I was hoping to learn from their experiences.

Living for a few weeks at a place cannot possibly give you the full experience of a place. You would not have enjoyed all the seasons to begin with. 3-5 years also forces you to immerse in other aspects of life – language as an example (although in this case, most of the countries could be gotten by with speaking English or Spanish) Cultivating a social circle of friends and acquaintances is another.

Note that I am not taking away anything from their experiences. Certainly, I do not know of anybody else who sold their house, packed up and went out in the world without a place to call home. The courage to do so, in of itself, is highly commendable. All the same, I will look forward to hear from somebody else who has done it for longer stretches of time.

Sitting at a bar, Sharmila said “I am having difficulty reading this book for my book club”
“Is it very violent or too dense?”, I asked
“ I can’t follow it at all”
“What is the name? What is the thesis?”
“The Drunkard’s Walk”.
“Oh! In statistics, that is a common problem discussed. If a completely drunk man could take a step east, west, north or south at every step randomly, after “n” steps, what is the chance he is back to his original spot?”
“That is what the book is all about. Chance. Probability.”
“That is my kind of book. Why are you reading it?”
“Well, Seemita-di chose that book”.

Without any fear or favor, I immediately started reading that book since she had already paid for it.

You know how there are certain kind of books that you relate to immediately? For me, it is the genre of human behavior, behavioral economics and so on. But when you put that with Talent in the corporate sector, you have topped it up like you cannot any more.

Few things bristle me more than people who think they understand talent and can predict what kind of talent can cause success. What bristles me precisely is the assumption of determinism and not realizing how much luck or chance plays in the outcome. Little surprise that in get togethers of ex employees of an old startup that succeeded spectacularly before crashing equally spectacularly (and I was fortunate enough to have gone thru the journey) I stick out as a sore thumb when I point out that chance was a bigger factor in our success rather than somehow we had the most brilliant people in this earth and that we suffer from nostalgia when we wipe out all the failures we had on our way to success and then the spectacular burn out.

This book, if not anything, bolstered the basis of my thoughts. Did I mention, I love this book? 🙂 (Psychologists will call it Confirmation Bias 🙂 🙂 )

In summary, the book endeavors to explain how chance plays an outsized role in our personal and professional lives and of all the things we take into account explaining or predicting performance, that is the one thing we do not talk about.

Some quotes from the book:

1. When (Sports) teams fail, the coach is often fired. Mathematical analysis of firings in all major sports, however, has shown that those firings had, on average, no effect on team performance.
2. If the details we are given (of anything) fit our mental picture of something, then the more details in a scenario, the more real it seems.
(RR notes: I can see this in the postings of my Dem and Rep friends on the two Presidential candidates daily in my newsfeed)
3. Availability Bias: In reconstructing the past, we give unwarranted importance to memories that are most vivid and hence most available for retrieval
(RR notes: This is part of the startup recollection)
4. We associate randomness with disorder.
(RR notes: In reality total randomness is actual perfection – it can never be reached)
5. When we look closely, we find that many of the assumptions of modern society are based on shared illusions.
6. There is a fundamental clash between our need to feel we are in control and our ability to recognize randomness. That clash (of control versus helplessness) is one of the principal reasons we misinterpret random events.
7. Not only do we preferentially seek evidence to confirm our preconceived notions, but we also interpret ambiguous evidence in favor of our ideas.
8. “Chance is a more fundamental conception than causality” – Nobel laureate Max Born
9. We cannot see a person’s potential, only his or her results, so we often misjudge people by thinking that the results must reflect the person.
10. But ability does not guarantee achievement, nor is achievement proportional to ability. And so, it is important to always keep in mind the other term in the equation – the role of chance.

It is a hard hitting book. I had suggested this book to a dear Caucasian friend of mine. Whose reaction after reading the first couple of chapters was that it was a politically motivated book. Surprised by the feedback, I asked him to keep reading on. A couple of weeks later, I was getting constant text messages after every chapter about how he has completely changed his mind.

This book will hit you at some of your core beliefs. It dissects Caste-ism. The common misconception is that caste is an India thing. The author convincingly establishes that caste has been most prevalent – written in law, practiced but the people and enforced by the upper caste people in three areas – India, Nazi Germany and America.

The American reference was the most jarring. The author establishes how “race” was the way casteism was established in America. In fact, it quickly shows how the concept of “race” – as in white or black is arbitrary and makes no sense when you go outside of America. Did you know that there was a court case about whether Indians should be considered white or not (due to Aryan descent and what not)?

The reason for caste is neither feelings not morality. It is about power and resources – which groups will have it and which groups won’t.

Frankly, it opened my own eyes to Dalits in India. Growing up in India, we were never taught about how we treat Dalits. If anything, we were taught about how in the past “harijans” were mistreated. Today, reading news about the crimes against Dalits in modern India, I have a renewed understanding of the insidious nature of subjugation that casteism has wrought in a few societies.

Read this book only if you feel you are open enough to be questioned hard on some of your core beliefs. Else, give it a pass.

I am not somebody who finishes a book in one sitting. I have three unfinished books in my library to prove that. The only one I have ever done before is a book called “The Toilet Paper Entrepreneur” which is easily finished in 20 minutes.

However, this book, I did finish in one and a half hours sitting in the park in Marietta Square while Sharmila was at her art show. The book is written mostly as thoughts journaled by the write Hugh Prather.

It is a very quick read but full of some insights that the author has gone thru…

Here are some that resonated with me:

1. My anxiety does not come from thinking about the future but from wanting to control it.

2. The key to motivation is to look at how far I have come rather than how far I have to go.

3. I believe that for almost everyone else life is also a mixture of unsolved problems, ambiguous victories and vague defeats – with very few moments of clear peace.

4. My trouble is I analyze life instead of live it.

5. Now that I know I am no wiser than anyone else, does this wisdom make me wise?

6. The number of things just outside the perimeter of my financial reach remains constant no matter how much my financial condition improves. With each increase in my income, a new perimeter forms and I experience the same relative sense of lack.

7. Don’t fight a fact, deal with it. Don’t discard your self, be more of it.

8. Most mistakes are corrected through increased awareness, which usually does not come without some discomfort.

9. The unstill part of the mind travels from one trivial issue to another, avoiding the present and avoiding love.

10. I can be faithful to my image or faithful to myself.

11. Most decisions, possibly all, have already been made on a deeper level than the sentence level of my mind and my going through a reasoning process to arrive at them seems at least redundant.

12. If the desire to do something is not accompanied by actual doing, then the desire is of not doing it.

13. I don’t think religion is an attainable subject for the intellect. I can only believe when I’m not talking about it.

14. I am noticing that when I am bored, I think I am tired of my surroundings but I am really tired of my thoughts.

15. If I feel disapproval of someone, if I find myself ignoring or turning away from someone in a group, I am probably avoiding in myself what this person represents that I believe is true about me.

16. There is no such thing as “best” in a world of individuals.

17. Whenever I find myself arguing for something with great passion, I can be certain I’m not convinced.

18. I find it almost impossible to make a strong declarative statement in conversation without feeling little nagging doubts and reservations.

19. I thought others’ liking me was a comment on me, but it is a comment on them.

20. If I feel compelled to answer every question, *I* am the one compelling me.

21. Silence can mean confidence. And mutual respect. Silence can mean live and let live: the appreciation that I am I and you are you. The silence is an affirmation that we are already together – as two people. Words can mean that I want to make you into a friend and silence can mean that I accept your already being one.

22. An argument is always about what has been made more important than the relationship.

23. I get along with people a lot better when I recognize that no one ever feels exactly the same about me or anyone else from one moment to the next.

24. All acquaintances are passing.

25. Perceptions are not of things but of relationships.