Steve Jobs coined the phrase “bozo management”. Bozos referred to the professional managers who know how to manage but don’t know how to DO anything. It turns out the best managers are great individual contributors who never ever want to be a manager but decide to be one.

What is DIF?

Driven by the goal to take a cut of all economic activity, Amazon decides to develop grocery services. However, its grocery business has no first-and-best customer due to cost disadvantage. By acquiring Whole Foods, Amazon is buying more than a retailer - it’s buying a customer.

Representative heuristics are one of the methods people use to judge probabilities and valuations. During this process, people often mistakenly equate representativeness with probability. To better assist in probability judgments, the following factors should be considered: base rates, sample size, correct understanding of odds, predictability, caution against overconfidence leading to an illusion of validity in predictions, and regression to the mean.

Bad strategies are easier to be made in terms of three facts: it’s painful to make a choice; people like to follow templates without thinking; people tend to misbelieve that a positive attitude and a strong desire can earn them everything they want.

Good strategy relies on three elements, along with focusing limited energy on the points that yield the most effective results, making it both unexpected and reasonable; bad strategy is formalism, stemming from people's reluctance to make choices, a preference for templates, and a fantasy of human dominance over fate. Therefore, we must be adept at thinking critically, maintaining our views, and applying external perspectives.

A good strategy is often surprising but reasonable. A bad strategy is a formalism. Here are four hallmarks to detect bad strategies: fluff; failure to face the challenge; mistaking goals for strategy; bad strategic objectives.

Over the past 25 years, the rise of cloud computing, smartphones, and social media has led to rapid growth for unicorn companies. However, those tech giants still struggle to find a path to high profits. Some well-known companies have demonstrated that wealth primarily comes from: large markets, high margins, and natural monopolies; limited physical assets and light regulation.

Architecture serves the entire lifecycle of software systems, making them easy to understand, develop, test, deploy, and operate, with the goal of minimizing the human resource costs for each business use case. O'Reilly's