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The Launching Pad - NYTimes.com - 0 views

  • we should aspire to be the world’s best launching pad because our work force is so productive; our markets the freest and most trusted; our infrastructure and Internet bandwidth the most advanced; our openness to foreign talent second to none; our funding for basic research the most generous; our rule of law, patent protection and investment-friendly tax code the envy of the world; our education system unrivaled; our currency and interest rates the most stable; our environment the most pristine; our health care system the most efficient; and our energy supplies the most secure, clean and cost-effective.
  • building America into this launching pad for more start-ups is precisely what an Obama second term should be about, so more Americans can thrive in a world we invented. If we can make America the best place to dream something, design something, start something, collaborate with others on something and manufacture something — in an age in which every link in that chain can now be done in so many more places — our workers and innovators will do just fine.
  • a narrative is not just a business plan. It has to be infused with values, and, in our case, the most obvious is “sustainability,” which doesn’t simply mean “green” or “no growth.” It means behaving responsibly in the market and with Mother Nature so we can have growth that lasts. What “freedom” was for our parents’ generation, “sustainability” has to be for ours.
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With Fears About Safety, Football Faces Uncertain Evolution - NYTimes.com - 0 views

  • Hall of Fame quarterback Terry Bradshaw said he believed that concern over head injuries would cause football to be eclipsed in popularity by soccer and other sports within 10 years.
  • “Football is really on the verge of a turning point here. We may see it in 15 years in pretty much the same place as boxing or ultimate fighting.” In other words, less a lucrative American colossus and more a niche sport beloved for its brutality.
  • there is a growing sentiment among those who love the sport and those who loathe it that football has come to a critical juncture.
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  • “Football is resting on this foundation of parental and cultural and masculinity-issued support that could be pushed to the background once people start to realize that taking the chance of brain damage isn’t worth proving that you’re a particular kind of man,” Coakley said. “We’re beginning to see the erosion of that support.”
  • He also advocated flag football as a worthy substitute for young players, who can learn rules and fundamentals in a controlled environment where the risk of head injury would be significantly diminished. He deflected the concern that children who start playing late are at a disadvantage, saying that talent is the ultimate determining factor.
  • “There’s plenty of ways to get exercise without risking not only head injuries, but the accompanying orthopedic problems that come with playing football.”
  • “It’s really a serious discussion and a secret fear that I think all of us feel. We’ve accepted the knees and the other ailments, but we really never thought about the deterioration of your brains as a result of concussions in football.”
  • If the suit goes to trial, he predicted, data that would be made public would prompt some parents to not allow their children to play football.
  • Entities from Pop Warner to high school could require parents to sign waivers preventing officials or the league itself from being sued.
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Who Should Teach Our Children? - NYTimes.com - 0 views

  • college teachers do a good job because of qualities that they already have when they complete their undergraduate education: a high level of intelligence, enthusiasm for ideas and an ability to communicate. In this regard, they are like those who go into other knowledge-based professions
  • Moreover, as in other knowledge-based professions, college faculties can be trusted to do their jobs well with minimal external supervision, assessment and in-service training
  • These reflections lead me to a simple proposal. Adopt the same model for grade school and high school teaching that works for colleges. Currently, few of the best students from the best colleges are grade school or high school teachers. (The most encouraging data merely suggest that high school teachers may be a bit above average, while grade school teachers are considerably below average)
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  • Top doctoral programs have far more applicants than they can accept, and many excellent students don’t apply, either because they do not have a high enough level of specialized skills or because they do not want to risk the terrible job market for college teachers. Such students would form a natural pool for non-college teaching
  • , the greatest intellectual challenge of teaching at any level is to find ways of presenting the content effectively. Our current system seems often to assume that K-12 teachers will need the guidance of “experts” to tell them how to do this. There’s considerable doubt as to the existence of the alleged expertise.
  • So why not make use of all this talent to develop an elite class of professionals — like those who teach in our colleges — and give them primary responsibility for K-12 education?
  • Moreover, it’s important that teachers be — as they now often are not — credible authority figures, a status readily supported by the justified self-confidence and prestige of an elite professional.
  • There are also many excellent students with no interest in the advanced research that is the focus of doctoral programs who would prefer non-college teaching to less intellectually engaging and less socially useful work
  • Attracting an elite professional class of K-12 teachers requires more than just higher salaries. We also have to eliminate the oversize classes, lack of discipline and inane bureaucracy that can take the joy out of teaching and will drive away the best college graduates. Can we afford all this? The first response is that we need to overcome our self-destructive aversion to raising taxes to pay for what we desperately need
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Acxiom, the Quiet Giant of Consumer Database Marketing - NYTimes.com - 0 views

  • Acxiom. But analysts say it has amassed the world’s largest commercial database on consumers — and that it wants to know much, much more. Its servers process more than 50 trillion data “transactions” a year. Company executives have said its database contains information about 500 million active consumers worldwide, with about 1,500 data points per person. That includes a majority of adults in the United States.
  • But privacy advocates say they are more troubled by data brokers’ ranking systems, which classify some people as high-value prospects, to be offered marketing deals and discounts regularly, while dismissing others as low-value — known in industry slang as “waste.”
  • Julie Brill, a member of the Federal Trade Commission, says she would like data brokers in general to tell the public about the data they collect, how they collect it, whom they share it with and how it is used. “If someone is listed as diabetic or pregnant, what is happening with this information? Where is the information
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  • It has recruited talent from Microsoft, Google, Amazon.com and Myspace and is using a powerful, multiplatform approach to predicting consumer behavior that could raise its standing among investors and clients.
  • Acxiom has its own classification system, PersonicX, which assigns consumers to one of 70 detailed socioeconomic clusters and markets to them accordingly. In this situation, it pegs Mr. Hughes as a “savvy single” — meaning he’s in a cluster of mobile, upper-middle-class people who do their banking online, attend pro sports events, are sensitive to prices — and respond to free-shipping offers.
  • Analysts say companies design these sophisticated ecosystems to prompt consumers to volunteer enough personal data — like their names, e-mail addresses and mobile numbers — so that marketers can offer them customized appeals any time, anywhere.
  • Acxiom maintains its own database on about 190 million individuals and 126 million households in the United States. Separately, it manages customer databases for or works with 47 of the Fortune 100 companies. It also worked with the government after the September 2001 terrorist attacks
  • This year, Advertising Age ranked Epsilon, another database marketing firm, as the biggest advertising agency in the United States, with Acxiom second.
  • it’s as if the ore of our data-driven lives were being mined, refined and sold to the highest bidder, usually without our knowledge — by companies that most people rarely even know exist.
  • if marketing algorithms judge certain people as not worthy of receiving promotions for higher education or health services, they could have a serious impact.
  • “Over time, that can really turn into a mountain of pathways not offered, not seen and not known about,”
  • Unlike consumer reporting agencies that sell sensitive financial information about people for credit or employment purposes, database marketers aren’t required by law to show consumers their own reports and allow them to correct errors.
  • ACXIOM’S Consumer Data Products Catalog offers hundreds of details — called “elements” — that corporate clients can buy about individuals or households, to augment their own marketing databases.
  • the catalog also offers delicate information that has set off alarm bells among some privacy advocates, who worry about the potential for misuse by third parties that could take aim at vulnerable groups. Such information includes consumers’ interests — derived, the catalog says, “from actual purchases and self-reported surveys” — like “Christian families,” “Dieting/Weight Loss,” “Gaming-Casino,” “Money Seekers” and “Smoking/Tobacco.” Acxiom also sells data about an individual’s race, ethnicity and country of origin. “Our Race model,” the catalog says, “provides information on the major racial category: Caucasians, Hispanics, African-Americans, or Asians.” Competing companies sell similar data.
  • “At the same time, this is ethnic profiling,” he says. “The people on this list, they are being sold based on their ethnic stereotypes. There is a very strong citizen’s right to have a veto over the commodification of their profile.”
  • race coding may be incorrect. And even if a data broker has correct information, a person may not want to be marketed to based on race.
  • In its system, a store clerk need only “capture the shopper’s name from a check or third-party credit card at the point of sale and then ask for the shopper’s ZIP code or telephone number.” With that data Acxiom can identify shoppers within a 10 percent margin of error, it says, enabling stores to reward their best customers with special offers. Other companies offer similar services. “This is a direct way of circumventing people’s concerns about privacy,” says Mr. Chester of the Center for Digital Democracy.
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Everyone likes the idea of equal opportunity. This economist thinks it's a fantasy. - 0 views

  • His new book, "The Son Also Rises" (Clark is a big fan of Hemingway puns), traces families with particular surnames to measure social mobility over the course of hundreds of years in England, the United States, Sweden, India, China and more. He finds that there's much less mobility than we often assume, and that government interventions to promote it more often than not fail.
  • What gave you the idea to look at surname data? Initially I was interested just in extending conventional social mobility estimates into the distant past. Estimating social mobility is very data intensive. You need to link individual parents and children. There are thus no such estimates for any society before 1850. Tracking surname status was a convenient shortcut. In most societies, all the people with a surname such as Goodhart descended from the earlier set of Goodharts. We do not know the individual linkages, but we can ask what is happening to their status as a group across generations.
  • I found that you get radically slower estimated mobility rates for all societies when you switch to surnames.
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  • The effect is dramatic in some countries. Modern Sweden has some of the most rapid social mobility rates estimated in the world. Yet surnames in modern Sweden show status persistence exactly in this 0.7-0.8 range. This result was completely unexpected. Understanding why that is the case is a key puzzle the book tackles.
  • The book mainly concentrates on measures such as education, occupational status, wealth and longevity as indicators of status. Another surprising puzzle that emerged is that with surnames, the persistence of status was the same for all these measures. We might expect wealth to persist in a different way, since it can be transmitted across generations in a different way than education. You do not need any talent to inherit wealth. This is another regularity the book tries to account for.
  • Another remarkable feature of the surname data is how seemingly impervious social mobility rates are to government interventions. In all societies, what seems to matter is just who your parents are. At the extreme, we see in modern Sweden an extensive system of public education and social support. Yet underlying mobility rates are no higher in modern Sweden than in pre-industrial Sweden or medieval England.
  • Interestingly, in China, the extreme social intervention represented by the Communist Revolution of 1949, which included executing large numbers of members of the old upper class, has not resulted in much of an increase in social mobility. Surnames of high status in the Imperial and Republican era continue to be overrepresented among modern elites, including Communist Party officials.
  • families that have high social competence, whatever the social system is, typically find their way to the top of the social ladder.
  •  It is clear that families are very powerful determinants of children’s outcomes. But what do parents transmit to their children? Is it mainly some type of culture? Or is it mainly genetics?
  • The data does not exist to provide any conclusive answer to this question. But even if this is cultural transmission, it looks in all respects just the same as biological inheritance. The book performs a series of tests to see if biological transmission can be ruled out as the important link, and the empirical patterns never rule this out.
  • And that's where Sweden's system does provide advantages over the U.S.'s. They haven't changed mobility rates, but they've changed the consequences, strongly, of ending up at various points in the distribution. It's a much better place for people who end up at the bottom of the distribution.
  • All this information on social mobility within societies unfortunately does not offer much insight into why societies as a whole succeed or fail in economic terms.
  • The surname data suggests that you will not be able to do much to increase social mobility through social policies of any type.  We already live in societies of massive social intervention in terms of the provision of education and health care. Yet we have not been able to raise social mobility rates above those of the pre-industrial era.
  • But if we're learning that we can predict the majority of people's outcomes at conception, that should lead us to reexamine our assumption that whatever income distribution comes out in society is fine. Because if it's the case that a lot of this is determined before someone enters the game, it weakens the case for letting the market determine the distribution. You'd be much more likely to favor a society with much less inequality.
  • A recent book, "The Triple Package"  [by Amy Chua and Jed Rubenfeld], argues the extreme opposite of biology in explaining social status, with the claim that successful cultural groups in the U.S. have three key features leading to success, one being impulse control. But what is remarkable is how disparate the culturally successful groups they identify are – Jews, Chinese, Indians, Mormons, Iranians, Lebanese, Nigerians, Cubans. And it is demonstrable that most of the successful groups identified here were elites selected from the parent populations as a combined result of politics at home and immigration policy in the U.S.
  • One piece of news that most people will find encouraging in these various studies is that eventually all elites become average in their characteristics, even if that takes 300 years
  • Accounts that emphasize cultural transmission all have a hard time explaining why successful groups, and successful families in general, all experience regression to the mean. There is nothing to stop a cultural trait being inherited unchanged
  • Only biological inheritance has an inbuilt mechanism to explain observed regression to the mean. It also has predictions about when this regression to the mean will not be observed (complete endogamy). It further implies that the rate of regression to the mean will be the same at the top of the status distribution as at the bottom. So the biological pathway has two advantages over the cultural. It produces a mechanism to explain the regression of all elites and underclasses that we observe, and it has testable implications about the speed and character of that mobility.
  • The final surprise in conducting this study was to find a seeming simple physics that underlies social mobility.
  • When we observe an elite group in 1800 in England, we can predict to seven generations in the future what their relative social position will be, despite the arrival of the Industrial Revolution and the rise of the modern welfare state in the interval.
  • Two very simple equations are sufficient to describe a major feature of the social world, and a feature that you would think impossible to model in any such manner.
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Luc Levesque of Trip Advisor, on Frequent Evaluations - NYTimes.com - 0 views

  • Q. How do you hire? What questions do you ask? A. I’ll start by asking right away: “Tell me a bit about you. Walk me from the last page of your résumé to the front page. How did you transition from job to job? I really want to understand, why did you leave? What was the motivation? How did you find the next job? Did you get poached? Did you get bored?” So I want to really understand the transitions between jobs and paint a picture.
  • I’m looking for what I call “signals of excellence.” I’ve had by far the most success with somebody who’s very talented and has these kind of signals in their history. So did they graduate with honors? Did they have a side project, like a start-up? Are there certain things they’ve done that they excelled at — things that make them better than everyone else?
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SAT, ACT: College-Admissions Tests Are Holding American Students Back - Businessweek - 0 views

  • The College Board—the nonprofit consortium of colleges, high schools, and other organizations that creates the SAT—has repeatedly jiggered the test to respond to critics, most obviously in 2005, when it added a writing section that boosted the highest possible score to 2400 from 1600
  • Huge disparities remain. Asians score the highest on the test, and their average rose this past academic year even as the scores of all other ethnic groups fell.
  • University of Wyoming President Robert Sternberg was stupid in elementary school. IQ tests said so. Knowing his scores, his teachers in the 1950s expected him to perform badly, and he agreeably lived down to their expectations. In fourth grade a teacher named Virginia Alexa saw something special in him and conveyed her high expectations. Almost overnight he became an A student.
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  • Coleman and his team are completing a major revision of the SAT to be unveiled in January 2014 and launched in the spring of 2015. He wants the test to “propel” students toward deeper learning of real things
  • That means fewer abstruse vocabulary words (like “abstruse”) and essays that are based on documents so human graders can evaluate the correctness of their writers’ arguments, not just their style.
  • The U.S. rode to economic supremacy with the world’s highest share of young college grads, but now its percentage of graduates at the typical age of graduation is behind those of Australia, Denmark, Finland, Iceland, Ireland, Japan, the Netherlands, New Zealand, Norway, Poland, Portugal, the Slovak Republic, Sweden, and the U.K., the Organisation for Economic Co-operation and Development says.
  • The message: Real life is messy. You’re not given five answers to choose from. And America shouldn’t depend on something resembling an IQ test to rake geniuses from the rubbish.
  • The SAT and its rival, the ACT, are part of the problem. Designed to ferret out hidden talent, the tests have become, for some students at least, barriers to higher education. Scores are highly correlated with family income; Harvard law professor Lani Guinier calls the SAT a “wealth test.”
  • Since the earliest days of the republic, there have been two schools of thought about the merits of sorting students, as recounted in Nicholas Lemann’s 1999 book The Big Test: The Secret History of the American Meritocracy. Thomas Jefferson, who believed in a “natural aristocracy,” said that in Virginia all w
  • New Englander Henry Adams was less disdainful of the rubbish. He said Jefferson’s natural aristocracy was no better than regular old aristocracy: “I would trust one as soon as the other with unlimited power.”
  • The SAT was launched in 1926 as a variant of an intelligence test used in World War I to place soldiers and sailors. Harvard adopted it in 1934.
  • The University of California long resisted using standardized tests but in 1968—swamped by more qualified applications than it could handle—began requiring applicants to submit SAT scores as a way to screen out lower achievers.
  • Admissions officers at about 850 four-year colleges now make standardized tests optional for some or all of their applicants
  • To be less cynical, the tests do stigmatize low scorers and distract people “from what they really need to do, which is mastering academic subjects in their high school,” says Wake Forest University sociologist Joseph Soares, whose school went SAT-optional in 2008.
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Report Finds a Los Angeles in Decline - NYTimes.com - 0 views

  • the most worrisome blow by far is a scathing verdict on Los Angeles’s civic health that was delivered in a one-two punch — the second on Wednesday — by a committee of lawyers, developers, labor leaders and former elected officials who make up something of the Old Guard here. The Los Angeles 2020 Commission presented a catalog of failings that it said were a unique burden to the city: widespread poverty and job stagnation, huge municipal pension obligations, a struggling port and tourism industry and paralyzing traffic that would not be eased even with a continuing multibillion-dollar mass transit initiative.
  • Their conclusions amounted to an indictment of a city and its culture, a place that the commission said was brimming with talent and resources but was nonetheless falling behind other major cities across the globe.
  • “Year by year, our city — which once was a beacon of innovation and opportunity to the world — is becoming less livable,”
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A Cultural Gift to Paris Could Redesign LVMH's Image - NYTimes.com - 0 views

  • The luxury business is changing. As consumers have experienced what Bain & Company calls “logo fatigue,” growth for brands including Gucci, Prada and Vuitton has slowed.
  • The conventional wisdom was that consumers cared about obvious aspirational signifiers like name and price; the new view is that they now care about the less apparent marks of connoisseurship: handwork and craft
  • “If the 20th century was about manufacturing,” said Michael Burke, the chief executive of Louis Vuitton, “the 21st century will be about intangibles” — concern for preservation, heritage, the environment.
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  • “The sophisticated consumer became a bit disappointed in luxury as it strove for ubiquity,”
  • “You can’t keep opening stores,” Mr. Hutchings said, “so you have to think about exactly how you are engaging with the consumer.” He added: “The new model is representing something a whole lot deeper and more meaningful to consumers.”
  • As a result, a new front has opened in the luxury wars, with the names stitched inside handbags now also chiseled on cultural institutions. In Italy alone, Tod’s, the Italian luxury group, is underwriting the restoration of the Colosseum for 25 million euros, or $31.7 million; LVMH’s Fendi is spending €2 million for restoration of the Trevi Fountain; Versace is helping to restore Milan’s Galleria Vittorio Emanuele II; and Salvatore Ferragamo pitched in at the Uffizi Gallery in Florence.
  • “Consumers buy luxury goods products as a way to ennoble themselves; luxury goods companies and brands can earn more ‘nobility’ by associating their names to art and masterpieces,”
  • All of this halo-associating behavior is occurring as luxury has become more enticing as a sector. In the depths of the recession, the luxury market grew by 5 percent worldwide
  • Today, the company vies for brands and creative talent not just with peers like Kering and Richemont, but also with private equity firms like Yucaipa (which has stakes in Barneys and Zac Posen) and players from the Middle East and Asia. The Qatar Investment Authority owns Harrods as well as minority stakes in Tiffany and Porsche. And the Hong Kong-based Fung Group, through its private equity vehicle First Heritage Brands, owns Sonia Rykiel, Robert Clergerie and Delvaux.
  • the question for a business being courted by several buyers is not so much “Can you afford us?” as “Who do we like best?” In that context, “linking to culture is a very powerful tool,” said Ms. D’Arpizio at Bain. “You are dealing largely with entrepreneurs who want their brand to survive them and last into the future, and culture is all about preserving that for the future.”
  • “Steve Jobs once asked me for some advice about retail, but I said, ‘I am not sure at all we are in the same business.’ I don’t know if we will still use Apple products in 25 years, but I am sure we will still be drinking Dom Pérignon.”Technology is predicated on change; luxury, however, is predicated on heritage and connection to tradition.
  • “France has a complicated relationship to success,” said Mr. Burke, who has worked with Mr. Arnault since that time. “Just think about the fact the expression ‘to make money’ does not exist in France. You ‘gagner l’argent’; you win money — the implication being either you are taking it away from someone by beating them, or you didn’t deserve it. And in France, Bernard Arnault epitomizes making money.”
  • Mr. Arnault sees his role as ensuring the future of brands, but not necessarily the designers behind them — a crucial distinction. As a result, whenever he makes a controversial play for a company, the predator image becomes part of the fight.
  • The increased prominence of Antoine and Delphine Arnault has also helped promote an image of LVMH — despite being a huge public company with €29.1 billion in revenue — as a family affair.
  • “It will show everyone who he really is,” Mr. Claverie said, suggesting that the FLV would reveal Mr. Arnault as someone who makes creativity happen, as opposed to a man who merely exploits and commoditizes it.
  • “I told Mr. Arnault to be prepared for the fact that the French reaction, at least, will not be all positive,” Mr. Burke of Vuitton said. “I think we may get something along the lines of, ‘Who does he think he is to do this? It is not for business people to make these kinds of cultural statements!’ and so on.”
  • “At some point, though, France will adapt to it,” he continued. “Then they will accept it. And then they will love it.”
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The Streamlined Life - NYTimes.com - 0 views

  • Every year researchers at U.C.L.A. do a survey of incoming college freshmen. These surveys, conducted over four decades now, show how the life cycle has changed over the past couple generations.
  • In 1966, only about 19 percent of high school students graduated with an A or A- average. By 2013, 53 percent of students graduated with that average.
  • the workload is lighter. As late as 1987, nearly half of high school students reported doing at least six hours of homework a week. By 2006, less than a third of all students reported doing that much work.
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  • In 1966, 48 percent of students said they sometimes showed up late to class. By 2006, more than 60 percent of students said they sometimes showed up late.
  • In 1966, 86 percent of college freshmen said that developing a meaningful philosophy of life was essential or very important. Today, less than half say a meaningful philosophy of life is that important.
  • In 1976, 50 percent of freshmen said they were going to college in order to make more money. By 2006, 69 percent of freshmen said that.
  • Even incoming college freshmen seem to fear they will not find lucrative and rewarding work. Harsh economic thinking plays a much bigger role in how students perceive their lives
  • In 1966, only 42 percent of freshmen said that being well-off financially was an essential or very important life goal. By 2005, 75 percent of students said being well-off financially was essential or very important.
  • University of Michigan studies suggest that today’s students score about 40 percent lower in measures of empathy than students did 30 years ag
  • In 1985, only 18 percent of freshmen said that they felt overwhelmed by all they had to do. By 2013, 33 percent said they felt overwhelmed.
  • In 1985, 64 percent of students said they ranked in the top 10 percent or at least above average in terms of mental health. But today, students admit to being much more emotionally vulnerable. They also declare low levels of spiritual self-confidence.
  • they are trying to armor up, in preparation for the rigors to come. They assert their talents. They rate themselves much more highly than past generations on leadership skills, writing abilities, social self-confidence and so on. For example, in 2009, roughly 75 percent of freshmen said they had a stronger drive to achieve
  • you get a group hardened for battle, more focused on the hard utilitarian things and less focused on spiritual or philosophic things; feeling emotionally vulnerable, but also filled with résumé assertiveness.
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American Dream? Or Mirage? - NYTimes.com - 0 views

  • ECONOMIC inequality in the United States is at its highest level since the 1930s, yet most Americans remain relatively unconcerned with the issue. Why
  • One theory is that Americans accept such inequality because they overestimate the reality of the “American dream” — the idea that any American, with enough resolve and determination, can climb the economic ladder, regardless of where he starts in life.
  • The American dream implies that the greatest economic rewards rightly go to society’s most hard-working and deserving members.
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  • studies by two independent research teams (each led by an author of this article) found that Americans across the economic spectrum did indeed severely misjudge the amount of upward mobility in society.
  • The data also confirmed the psychological utility of this mistake: Overestimating upward mobility was self-serving for rich and poor people alike. For those who saw themselves as rich and successful, it helped justify their wealth. For the poor, it provided hope for a brighter economic future.
  • Participants in the survey overshot the likelihood of rising from the poorest quintile to one of the three top quintiles by nearly 15 percentage points. (On average, only 30 percent of individuals make that kind of leap.)
  • When asked to estimate how many college students came from families in the bottom 20 percent of income, respondents substantially misjudged, estimating that those from the lowest income bracket attended college at a rate five times greater than the actual one
  • they were also asked to estimate upward mobility for people who were similar to them “in terms of goals, abilities, talents and motivations.” In this case, respondents were even more likely to overestimate upward mobility.
  • Those with the most room to move up were more likely to think that such movement was possible.
  • The higher up people said they were, the more they overestimated the likelihood of upward mobility. Being aware of your position at the top of a low-mobility hierarchy can be uncomfortable, because without mobility, sitting at the top is the result of luck, rather than merit.
  • political liberals were less likely to overestimate upward mobility relative to conservatives — a finding consistent with other research suggesting that conservatives see our society as more merit-based than do liberals.
  • members of ethnic minority groups tended to overestimate upward mobility more than did European Americans. This result indicated that those with the most to gain from believing in an upwardly mobile society tended to believe so more strongly.
  • belief in the American dream is woefully misguided when compared with objective reality. Addressing the rising economic gap between rich and poor in society, it seems, will require us to contend not only with economic and political issues, but also with biases of our psychology.
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BBC News - 100 Women: Mid-East lags as gender gap 'narrows' - 0 views

  • Iceland, Finland and Norway top the list of 136 nations, based on political participation, economic equality and rights like education and health.
  • One hundred women from all around the world are gathering for a day of debate and discussion as the 100 Women season comes to an end.
  • "What's worrying though is that 20% of countries have made no progress or are falling behind," she said.
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  • But our levels of maternal mortality are very high, and 35% of girls aged 6-14 years old are not in school."
  • "Women make up one half of the human capital available to any economy and any company; if that talent isn't integrated, that is going to be a loss for both women and men," she said.
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Inside Amazon: Wrestling Big Ideas in a Bruising Workplace - The New York Times - 0 views

  • At Amazon, workers are encouraged to tear apart one another’s ideas in meetings, toil long and late (emails arrive past midnight, followed by text messages asking why they were not answered), and held to standards that the company boasts are “unreasonably high.” The internal phone directory instructs colleagues on how to send secret feedback to one another’s bosses. Employees say it is frequently used to sabotage others. (The tool offers sample texts, including this: “I felt concerned about his inflexibility and openly complaining about minor tasks.”)
  • The company’s winners dream up innovations that they roll out to a quarter-billion customers and accrue small fortunes in soaring stock. Losers leave or are fired in annual cullings of the staff — “purposeful Darwinism,”
  • his enduring image was watching people weep in the office, a sight other workers described as well. “You walk out of a conference room and you’ll see a grown man covering his face,” he said. “Nearly every person I worked with, I saw cry at their desk.”
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  • Last month, it eclipsed Walmart as the most valuable retailer in the country, with a market valuation of $250 billion, and Forbes deemed Mr. Bezos the fifth-wealthiest person on earth.
  • Others who cycled in and out of the company said that what they learned in their brief stints helped their careers take off. And more than a few who fled said they later realized they had become addicted to Amazon’s way of working.
  • Amazon may be singular but perhaps not quite as peculiar as it claims. It has just been quicker in responding to changes that the rest of the work world is now experiencing: data that allows individual performance to be measured continuously, come-and-go relationships between employers and employees, and global competition in which empires rise and fall overnight. Amazon is in the vanguard of where technology wants to take the modern office: more nimble and more productive, but harsher and less forgiving.
  • “Organizations are turning up the dial, pushing their teams to do more for less money, either to keep up with the competition or just stay ahead of the executioner’s blade,”
  • At its best, some employees said, Amazon can feel like the Bezos vision come to life, a place willing to embrace risk and strengthen ideas by stress test. Employees often say their co-workers are the sharpest, most committed colleagues they have ever met, taking to heart instructions in the leadership principles like “never settle” and “no task is beneath them.”
  • In contrast to companies where declarations about their philosophy amount to vague platitudes, Amazon has rules that are part of its daily language and rituals, used in hiring, cited at meetings and quoted in food-truck lines at lunchtime
  • “You can work long, hard or smart, but at Amazon.com you can’t choose two out of three,” Mr. Bezos wrote in his 1997 letter to shareholders
  • mazon, though, offers no pretense that catering to employees is a priority. Compensation
  • As the company has grown, Mr. Bezos has become more committed to his original ideas, viewing them in almost moral terms, those who have worked closely with him say. “My main job today: I work hard at helping to maintain the culture,”
  • perhaps the most distinctive is his belief that harmony is often overvalued in the workplace — that it can stifle honest critique and encourage polite praise for flawed ideas. Instead, Amazonians are instructed to “disagree and commit” (
  • According to early executives and employees, Mr. Bezos was determined almost from the moment he founded Amazon in 1994 to resist the forces he thought sapped businesses over time — bureaucracy, profligate spending, lack of rigor. As the company grew, he wanted to codify his ideas about the workplace, some of them proudly counterintuitive, into instructions simple enough for a new worker to understand, general enough to apply to the nearly limitless number of businesses he wanted to enter and stringent enough to stave off the mediocrity he feared.
  • Every aspect of the Amazon system amplifies the others to motivate and discipline the company’s marketers, engineers and finance specialists: the leadership principles; rigorous, continuing feedback on performance; and the competition among peers who fear missing a potential problem or improvement and race to answer an email before anyone else.
  • But in its offices, Amazon uses a self-reinforcing set of management, data and psychological tools to spur its tens of thousands of white-collar employees to do more and more. “The company is running a continual performance improvement algorithm on its staff,” said Amy Michaels, a former Kindle marketer.
  • As the newcomers acclimate, they often feel dazzled, flattered and intimidated by how much responsibility the company puts on their shoulders and how directly Amazon links their performance to the success of their assigned projects
  • Company veterans often say the genius of Amazon is the way it drives them to drive themselves. “If you’re a good Amazonian, you become an Amabot,” said one employee, using a term that means you have become at one with the system.
  • many others said the culture stoked their willingness to erode work-life boundaries, castigate themselves for shortcomings (being “vocally self-critical” is included in the description of the leadership principles) and try to impress a company that can often feel like an insatiable taskmaster.
  • A 2013 survey by PayScale, a salary analysis firm, put the median employee tenure at one year, among the briefest in the Fortune 500
  • To prod employees, Amazon has a powerful lever: more data than any retail operation in history. Its perpetual flow of real-time, ultradetailed metrics allows the company to measure nearly everything its customers do:
  • Amazon employees are held accountable for a staggering array of metrics, a process that unfolds in what can be anxiety-provoking sessions called business reviews, held weekly or monthly among various teams. A day or two before the meetings, employees receive printouts, sometimes up to 50 or 60 pages long, several workers said. At the reviews, employees are cold-called and pop-quizzed on any one of those thousands of numbers.
  • Ms. Willet’s co-workers strafed her through the Anytime Feedback Tool, the widget in the company directory that allows employees to send praise or criticism about colleagues to management. (While bosses know who sends the comments, their identities are not typically shared with the subjects of the remarks.) Because team members are ranked, and those at the bottom eliminated every year, it is in everyone’s interest to outperform everyone else.
  • many workers called it a river of intrigue and scheming. They described making quiet pacts with colleagues to bury the same person at once, or to praise one another lavishly. Many others, along with Ms. Willet, described feeling sabotaged by negative comments from unidentified colleagues with whom they could not argue
  • The rivalries at Amazon extend beyond behind-the-back comments. Employees say that the Bezos ideal, a meritocracy in which people and ideas compete and the best win, where co-workers challenge one another “even when doing so is uncomfortable or exhausting,” as the leadership principles note, has turned into a world of frequent combat
  • Resources are sometimes hoarded. That includes promising job candidates, who are especially precious at a company with a high number of open positions. To get new team members, one veteran said, sometimes “you drown someone in the deep end of the pool,” then take his or her subordinates. Ideas are critiqued so harshly in meetings at times that some workers fear speaking up.
  • David Loftesness, a senior developer, said he admired the customer focus but could not tolerate the hostile language used in many meetings, a comment echoed by many others.
  • Each year, the internal competition culminates at an extended semi-open tournament called an Organization Level Review, where managers debate subordinates’ rankings, assigning and reassigning names to boxes in a matrix projected on the wall. In recent years, other large companies, including Microsoft, General Electric and Accenture Consulting, have dropped the practice — often called stack ranking, or “rank and yank” — in part because it can force managers to get rid of valuable talent just to meet quotas.
  • Molly Jay, an early member of the Kindle team, said she received high ratings for years. But when she began traveling to care for her father, who was suffering from cancer, and cut back working on nights and weekends, her status changed. She was blocked from transferring to a less pressure-filled job, she said, and her boss told her she was “a problem.” As her father was dying, she took unpaid leave to care for him and never returned to Amazon.
  • “When you’re not able to give your absolute all, 80 hours a week, they see it as a major weakness,” she said.
  • A woman who had thyroid cancer was given a low performance rating after she returned from treatment. She says her manager explained that while she was out, her peers were accomplishing a great deal. Another employee who miscarried twins left for a business trip the day after she had surgery. “I’m sorry, the work is still going to need to get done,” she said her boss told her. “From where you are in life, trying to start a family, I don’t know if this is the right place for you.”
  • A woman who had breast cancer was told that she was put on a “performance improvement plan” — Amazon code for “you’re in danger of being fired” — because “difficulties” in her “personal life” had interfered with fulfilling her work goals. Their accounts echoed others from workers who had suffered health crises and felt they had also been judged harshly instead of being given time to recover.
  • Amazon retains new workers in part by requiring them to repay a part of their signing bonus if they leave within a year, and a portion of their hefty relocation fees if they leave within two years.
  • In interviews, 40-year-old men were convinced Amazon would replace them with 30-year-olds who could put in more hours, and 30-year-olds were sure that the company preferred to hire 20-somethings who would outwork them. A
  • “One time I didn’t sleep for four days straight,” said Dina Vaccari, who joined in 2008 to sell Amazon gift cards to other companies and once used her own money, without asking for approval, to pay a freelancer in India to enter data so she could get more done. “These businesses were my babies, and I did whatever I could to make them successful.”
  • Recruiters, though, also say that other businesses are sometimes cautious about bringing in Amazon workers, because they have been trained to be so combative. The derisive local nickname for Amazon employees is “Amholes” — pugnacious and work-obsessed.
  • By the time the dust settles in three years, Amazon will have enough space for 50,000 employees or so, more than triple what it had as recently as 2013.
  • just as Jeff Bezos was able to see the future of e-commerce before anyone else, she added, he was able to envision a new kind of workplace: fluid but tough, with employees staying only a short time and employers demanding the maximum.
  • “Amazon is driven by data,” said Ms. Pearce, who now runs her own Seattle software company, which is well stocked with ex-Amazonians. “It will only change if the data says it must — when the entire way of hiring and working and firing stops making economic sense.”
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Silicon Valley: Perks for Some Workers, Struggles for Parents - NYTimes.com - 0 views

  • The American workplace has always prized people who prioritize work over family, and European countries have long had more generous policies for working parents. But in the last two decades, that gap has widened significantly. Other developed countries have expanded benefits like paid parental leave and child care, while the United States has not.
  • for workers — most of whom have children, aging parents or both, and many of whom are single parents — the downsides can be enormous, whether they work in high finance or hourly labor. Many workers today — blue-collar and white-collar alike — believe they must choose between career and family.
  • The share of women in their 30s and 40s who work, which was once higher in the United States than in Canada, Australia, Japan and much of Europe, has fallen behind. The widening gap in policies is a major reason for the change,
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  • More broadly, some economists say, the lack of family-focused policies reflects the power imbalance between companies and workers in the American economy today. The share of economic output flowing to corporate profits has surged, while employee compensation has stagnated.
  • The technology industry is a striking example because it attracts some of the country’s smartest people, many of whom have far more bargaining power than most workers. Silicon Valley also has outsize cultural significance, as the face of American ingenuity and a magnet for global talent.
  • But it is also a place that often expects total commitment to work. That grows from the notion that in tech, unlike in other industries, companies become overnight successes, and believe their work is changing the world.
  • “People who give you millions of dollars for nothing but an idea at the very least expect your complete commitment to that idea,”
  • Start-ups are unlikely to have parental policies because they are more focused on growing as quickly as possible.
  • Though it’s off limits for interviewers to ask candidates whether they have children, tech companies use euphemisms to indicate that parents or older employees are not welcome, said a tech executive who would speak only anonymously. They say people are not a good “culture fit” and cannot “align on priorities” or make it in a “rapidly moving company.” The translation, he said: “People who are not exactly like us.”
  • “When people have kids, they have other priorities — and start-ups can be pretty brutal about not having other priorities,”
  • “Young people just have simpler lives,” Mark Zuckerberg, Facebook’s co-founder and chief executive, said in a talk to would-be entrepreneurs in 2007, when he was 23. “We may not own a car. We may not have family. Simplicity in life allows you to focus on what’s important.”
  • In some ways, an aging Silicon Valley is beginning to look more like the rest of corporate America, where most workers have families. The challenge is retaining the youthful optimism that they can do the impossible — while also showing their employees that working and having families is realistic.
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What Technology Wants - 0 views

  • Do you know what technology is? We commonly think about technology as anything that was invented after you were born. My friend Denny Hills made kind of a version of that through his statement, "It's anything that doesn't work yet."
  • Wired, which was not about the technology, but about the culture around the technology. We like to think of ourselves as a lifestyle magazine. We are a magazine about technology culture in the way that Rolling Stone is a magazine about music culture.
  • This book came out of a little bit of my own efforts to try to understand what technology meant and where it should fit into the realm of the world. When a new technology came along, should we embrace it, or hold off?
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  • What's the theory behind technology? Do we just deal with each one, one by one, or was there a kind of a framework to understand and have a perspective on technology?
  • All these technologies that we have now made are interrelated, they are codependent, and they form a kind of an ecosystem of technologies. You might even think of it as if these were species, as if it was a super-organism of technology.
  • I'm interested in this super-organism of all the technologies. I gave it a name. I call it the Technium.
  • In the larger sense, the Technium is anything that we make with our minds.
  • all these things are connected together and they form an interacting whole, a kind of a super-organism, that has in many ways its own slight bit of autonomy, and its own agenda.
  • It wants in the way that a plant wants light and so it will lean towards the light. It has an urgency to go towards light. It's not intelligent, it's not aware of it, but that's what it wants.
  • If it does want things, it means that it wants it independent of our choosing. At the same time we are making it; it is there because we exist. It's not independent of us, but it has some slight bit of autonomy.
  • Biologists are slowly coming around to admitting that there are directions in evolution. The standard orthodoxy for many years was that it was completely random, and that there was no direction whatsoever. Any ordinary person found that shocking because they could definitely see a direction in evolution.
  • We see an arc of increasing complexity in the long journey of life.
  • Along the long history there is movement towards increasing diversity.
  • There is also increasing movement towards specialization.
  • There is a trend towards increasing structure. Things become more and more complicated.
  • There is a trend towards emergence
  • There are other trends—towards ubiquity, towards energy efficiency, towards degrees of freedom.
  • What I'm suggesting is that there is a continuum, a connection back all the way to the Big Bang with these self-organizing systems that make the galaxies, stars, and life, and now is producing technology in the same way.
  • The energies flowing through these things are, interestingly, becoming more and more dense.
  • The amount of energy running through a sunflower, per gram per second of the livelihood, is actually greater than in the sun.
  • The most energy-dense thing that we know about in the entire universe is the computer chip in your computer. It is sending more energy per gram per second through that than anything we know.
  • The other thing that is evolving over time is the evolvability of the system. One of the things that life is doing is it's evolving its ability to evolve.
  • Another way to think about this is that one of the things that life likes to do is make eyeballs. Life evolution independently invented eyeballs 30 different times in different genres and taxonomies. It invented flapping wings four times. It invented venomous stings about 20 times independently, from bees, to snakes, to jellyfish. It also has invented minds many, many times.
  • We are going to fill the universe with all different kinds of thinkings, because only by having many different kinds of minds can we actually understand the universe. Our own mind is probably insufficient to completely comprehend the universe.
  • The reason why we want to embrace it with our full arms is because what technology brings us is an opportunity for everybody's special mix of talents to be expressed. Just as we all have different faces, we all have a different mix of aptitudes and abilities. We use technologies to express those things.
  • The question is: Was Moore's Law inevitable? What drives Moore's Law? Where is this coming from?
  • Moore's Law, not in terms of transistors, but in terms of measuring computer power, was happening long before Moore or anybody even noticed it. The effect was happening before anybody believed it.
  • this suggests is that this is actually an inherent attribute of the physics, and it suggests that it is independent of the economy. Even if the silicon chip had been invented in Stalinist Russia under a command economy, it probably would still follow exactly the same kind of curve.
  • Geoffrey West at the Santa Fe Institute looked at a whole bunch of technologies, like solar and batteries and other kinds of things, and they show this this scaling law holds true in many industries.
  • It has something to do with the basic shape of the economy and of physics, and it's not really a self-fulfilling prophecy. In this way I suggest that these kinds of curves are inevitable. One of the characteristics of the Technium is it exhibits these scaling laws.
  • we do know that the media that we have does rewire our brains. We know this by studies of people who are literate. They took scans in Peru of people who were illiterate and those who could read and write. They found that in fact their brains work differently—not just when they're reading, but just in general. After having five, ten or twenty years of education and learning to read and write, it actually changes how your brain works.
  • It's also very clear that if you are spending five or ten hours a day in front of a computer, that is going to change how your brain works. It is going to rewire how we're doing things.
  • We have a dependency on the alphabet. That's how we think about things. We need reading and writing. We think in terms of words. We imagine it. We see it around us. It's ubiquitous. We are dependent on the alphabet. That doesn't seem to bother us very much.
  • As these technologies become more ubiquitous and as we become dependent upon it, that's what it is. We will be dependent upon it. It will be our exobrain. We'll use it to remember. It will always be around.
  • We invented the external stomach, it's called cooking, that allows us to digest stuff that could not otherwise increase nutrition. It changed our jaw and our teeth. We are physically different people because of our inventions. While we can live on a raw diet, it's actually very hard to breed on a raw diet.
  • What we have done is become dependent on our technology, and we will become ever more so. That's just the definition of who we are. We are the first domesticated animals. We are a technology ourselves.
  • What I'm saying is that there is only a little more good in technology than bad, but a little is all we need. If we create one-tenth of a percent more than we destroy every year, we can make civilization, because that tenth of a percent compounded over centuries is all that we need.
  • Every time there's a new technology that comes along, we have the possibility to use it for harm or for good. We also suddenly have a new possibility and choice that we didn't have before. That new choice is that little tiny tenth of a percent that's better, because we have now another freedom that we didn't have before. That tips it into the good side. It's not much better, but that's all we need over the long term. That's why over the long term it's good, because it increases choices and possibilities.
  • Technology is not powerful unless it can be powerfully abused. There is going to be a learning period. There are going to be phases that people go through and then become addicted. They don't know how to use it.
  • DDT is horrible. Don't give it a job as a pesticide, and spray millions of acres of cotton fields. That's a terrible job and causes all kinds of havoc. Yet used locally and sprayed around households, DDT eliminates malaria and saves millions of lives a year, and it has very little environmental impact that way. That's a better job for this technology.
  • We want to find the right jobs for these things and the right frame. Just like there are no bad children, there are also no bad technologies. You've just got to find the right place for them.
  • My research has shown that there are very few species of technology that ever go extinct. That's the difference between biological evolution and technological evolution; in technology things don't go extinct. They can be resurrected.
  • Very few people go backwards. Why? Because we have to surrender so many choices and options.
  • As wholesome and as satisfying as those lives are, the price of going back to these places is surrendering choices and opportunities. In general, the whole arc of evolution is towards expanding those, and that's why by embracing technology we can align ourselves with this long arc throughout the cosmos into the future.
  • I did a calculation that showed three-quarters of the total energy that we use on the planet right now, at least in the United States, is used in servicing technology. Roughly, three-quarters of the gasoline that you use in your car is used to move the car and not you. You're just a minor passenger in this whole thing. We have energy used to heat the warehouses that are holding the stuff that we have or to move the stuff that we have. Already this Technium is consuming three-quarters of our energy.
  • That is also where it's going. There will be more technology used to support more technology. Most of the traffic on the Internet is not people talking to each other; it's machines talking to other machines.
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The Density of Smart People - Richard Florida - Business - The Atlantic - 0 views

  • Jane Jacobs argued that the clustering of talented and energetic in cities is the fundamental driving force of economic development.
  • Instead of measuring human capital or college degree holders as a function of population, he measures it as a function of land area -- that is, as college degree holders per square mile.
  • San Francisco and New York are far and away the leaders in human capital density with 7,031 and 6,357 college degree holders per square mile, respectively.
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Epidemiology: Study of a lifetime : Nature News - 0 views

  • "It's unique and groundbreaking in the history of epidemiology. It's the only study to have chased an entire cohort across its life course — and it's not yet finished," says Ezra Susser, an epidemiologist who works with cohort studies at Columbia University in New York. He says that cohort research has been vital in seeding the idea that disease evolves as a result of events throughout life. "You gain enormous depth of understanding in how that disease came to be by following someone over their life course."
  • Bright children from the middle classes were more likely to pass the 11+ and do well at school than were equally bright working-class children, although supportive parents and good teachers could better a child's odds. The attrition of smart but poor boys (girls counted for less) became known as the 'waste of talent', turning Douglas's next two books — The Home and the School (1964) and All Our Future (1968) — into must-read educational references and contributing to the introduction of non-selective 'comprehensive' schools in the 1960s
  • He found that babies with the lowest birth weights had the highest risk of heart disease as adults. Study after study from the 1946 cohort supported the link, showing a tangle of connections between infant and child growth or development and adult traits from cognitive ability to frailty, diabetes, obesity, cancer and schizophrenia risk. "It isn't the same story every time, but we find an endless stream of long-term associations in quite 'noisy' data," says Kuh. "Big babies were more likely to get breast cancer. Small babies were more likely to have poor grip strength. Those who grew fast postnatally have more cardiovascular risk."
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  • Kuh and others emphasize that fates are not fixed by early life. "I don't ever want the findings to be interpreted as purely deterministic," says Kuh; she prefers the more optimistic idea that disease risks result from an accumulation of experiences throughout life, and that education, diet or other factors can shift poor trajectories to better ones.
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Women Nudged Out of German Workforce - NYTimes.com - 0 views

  • women who qualify in the view of one type of manager are automatically disqualified by the view of another. “Men can think of reasons against having women on boards and in executive committees,” Mr. Wippermann told the German weekly Die Zeit. “But none in favor.”
  • Still, “there is a lack of women who want to work full time,” she said. “We can’t tell women how to lead their lives. We don’t want a system like in the old East Germany.”
  • “Without these talent sources, Germany can’t survive as a leading knowledge economy. “We have to break open all our historic taboos,” he said. “Because if we don’t, we will lose competitiveness.”
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Recent Elections Missed the Biggest Challenge of All - NYTimes.com - 0 views

  • What would we have discussed if we’d had a serious election? How about the biggest challenge we’re facing today: The resilience of our workers, environment and institutions.
  • Because: The world is fast. The three biggest forces on the planet — the market, Mother Nature and Moore’s Law — are all surging, really fast, at the same time.
  • Moore’s Law, the theory that the speed and power of microchips will double every two years, is, as Andrew McAfee and Erik Brynjolfsson posit in their book, “The Second Machine Age,” so relentlessly increasing the power of software, computers and robots that they’re now replacing many more traditional white- and blue-collar jobs, while spinning off new ones
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  • The market, i.e., globalization, is tying economies more tightly together than ever before, making our workers, investors and markets much more interdependent and exposed to global trends, without walls to protect them.
  • the rapid growth of carbon in our atmosphere and environmental degradation and deforestation because of population growth on earth — the only home we have — are destabilizing Mother Nature’s ecosystems faster.
  • n sum, we’re in the middle of three “climate changes” at once: one digital, one ecological, one geo-economical. That’s why strong states are being stressed, weak ones are blowing up and Americans are feeling anxious that no one has a quick fix to ease their anxiety. And they’re right.
  • The only fix involves big, hard things that can only be built together over time: resilient infrastructure, affordable health care, more start-ups and lifelong learning opportunities for new jobs, immigration policies that attract talent, sustainable environments, manageable debt and governing institutions adapted to the new speed.
  • we’re not going to respond to the big global issues until they hit the economy. It’s hard to imagine a stronger example than a city of 20 million people running out of water. Yet despite the clear threat, the main response is ‘we hope it rains.’ Why such denial? Because the implications of acceptance are so significant, and we know in our hearts there’s no going back once you end denial. It would demand that the country face up to the urgency of reversing rather than slowing deforestation” and “the need to prepare the country for the risks that a changing climate presents.”
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For Stanford Class of '94, a Gender Gap More Powerful Than the Internet - NYTimes.com - 0 views

  • “The Internet was supposed to be the great equalizer,” said Gina Bianchini, the woman who had appeared on the cover of Fortune. “So why hasn’t our generation of women moved the needle?”
  • identity politics pushed many people into homogeneous groups; Scott Walker, one of the only African-Americans in the class to try founding a start-up, said in an interview that he regretted spending so much time at his all-black fraternity, which took him away from the white friends from freshman year who went on to found and then invest in technology companies.
  • But there were still many hoops women had greater trouble jumping through — components that had to be custom-built, capital that needed to be secured from a small number of mostly male-run venture firms.
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  • But with the web, “all of the sudden we began moving to a market where first mover advantage became enormous,” he said. Connection speeds were growing faster, Americans were starting to shop online, and multiplying e-commerce sites fought gladiatorial battles to control most every area of spending.
  • If the dawn of the start-up era meant that consumer-oriented ideas were becoming more important than proprietary technology, he asked himself aloud, shouldn’t more women have flooded in?
  • “The notion that diversity in an early team is important or good is completely wrong,” he added. “The more diverse the early group, the harder it is for people to find common ground.”
  • David Sacks, on the other hand, was unmarried and unencumbered, and in 1999 he left politics, his law degree and a job at the consulting firm McKinsey & Company to join his Stanford Review friends at a technology start-up, because of “the desire to live on the edge, to fight an epic battle, to experience in a very diluted way what previous generations must have felt as they prepared to go to war,” he wrote at the time. For his generation, he wrote, “instead of violence, unbridled capitalism has become the preferred vehicle for channeling their energy, intellect and aggression.”
  • his lack of social grace became an asset, according to Mr. Thiel and other former colleagues. He did not waste time on meetings that seemed pointless, and he bluntly insisted that the engineers whittle an eight-page PayPal registration process down to one.
  • But those debates did a great deal for Mr. Sacks. After graduation, he and Mr. Thiel published “The Diversity Myth,” a book-length critique of Stanford’s efforts. Within a few more years, he, Mr. Thiel, Mr. Rabois and others had transformed themselves into a close-knit network of technology entrepreneurs — innovators who created billion-dollar business after billion-dollar business, using the ideas, ethos and group bonds they had honed at The Stanford Review.
  • he and Mr. Thiel now had a setting in which to try out their ideas about diversity and meritocracy. “In the start-up crucible, performing is all that matters,” Mr. Sacks wrote about that time. He wanted to give all job applicants tests of cognitive ability, according to his colleague Keith Rabois, and when the company searched for a new chief executive, one of the requirements was an I.Q. of 160 — genius level.
  • intentionally or not, he stated something many people quietly believed: The same thing that made Silicon Valley phenomenally successful also kept it homogeneous, and start-ups had an almost inevitable like-with-like quality.
  • The kind of common ground shared by the early PayPal leaders “is always the critical ingredient on the founding teams,” Mr. Thiel said in an interview. “You have these great friendships that were built over some period of time. Silicon Valley flows out of deep relationships that people have built. That’s the structural reality.”
  • Another woman from the class of 1994 was quoted in the Fortune article: Trae Vassallo, who was Traci Neist when she built the taco-eating machine all those years ago, attended Stanford Business School with Ms. Herrin and Ms. Bianchini, co-founded a mobile device company, and then joined Kleiner Perkins, a premier venture capital firm.
  • The success of the struggle to create PayPal, and its eventual sale price, gave the men a new power: the knowledge to create new companies and the ability to fund their own and one another’s. Billion-dollar start-ups had been rare. But in the next few years, the so-called PayPal Mafia went on to found seven companies that reached blockbuster scale, including YouTube, LinkedIn, Yelp and a business-messaging service called Yammer, founded by Mr. Sacks and sold a few years later to Microsoft for $1.2 billion.
  • Since 1999, the number of female partners in venture capital has declined by nearly half, from 10 percent to 6 percent, according to a recent Babson College study.
  • in early 2014, Ms. Vassallo was quietly let go. The firm was downsizing over all, especially in green technology, one of Ms. Vassallo’s specialties, and men were shown the exit as well. But in interviews, several former colleagues said it was far from an easy environment for women, with all-male outings and fierce internal competition for who got which board seat — meaning internal credit — for each company, not to mention a sexual discrimination lawsuit filed by a female junior partner, scheduled for trial in early 2015.
  • They also said that Ms. Vassallo, earnest and so technical that she started a robotics program at a local girls’ school, had not been as forceful, or as adept a politician, as some of her male peers.
  • Less than 10 years after graduation, he and Mr. Thiel had been transformed from outcasts into favorites with a reputation for seeing the future. Far from the only libertarians in Silicon Valley, they had finally found an environment that meshed perfectly with their desire for unfettered competition and freedom from constraints. The money they made seemed like vindication of their ideas.
  • As classmates started conversations with greetings like “How’s your fund?” some of those who did not work in technology joked that they felt like chumps. The Stanford campus had gone computer science crazy, with the majority of students taking programming courses. A career in technology didn’t feel like a risk anymore — it felt like a wise bet, said Jennifer Widom, a programming professor turned engineering dean. Computer science “is a degree that guarantees you a future, regardless of what form you decide to take it in,” she said.
  • The nature of start-ups was shifting again, too, this time largely in women’s favor. From servers onward, many components could be inexpensively licensed instead of custom-built. Founders could turn to a multiplying array of investment sources, meaning they no longer had to be supplicants at a handful of male-run venture firms. The promise that the Internet would be a leveler was finally becoming a bit more fulfilled.
  • The frenzy had an unlikely effect on the some members of the Stanford Review group: They were becoming cheerleaders for women in technology, not for ideological reasons, but for market-based ones.
  • Like many others, he was finding that the biggest obstacle to starting new companies was a dearth of technical talent so severe they worried it would hinder innovation.
  • The real surprise of the reunion weekend, however, was that more of the women in the class of ’94 were finally becoming entrepreneurs, later and on a smaller scale than many of the men, but founders nonetheless.
  • The rhythms of their lives and the technology industry were finally clicking: Companies were becoming easier to start just as their children were becoming more self-sufficient, and they did not want to miss another chance.
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