Below, I share content I consumed and learned from last week. I spent time doing general learning about a variety of topics.

What I consumed last week and what I learned from it:

• Read the Rules. Most People Don't. – YouTube interview with Nick Kokonas, a serial entrepreneur in trading, restaurants, and software. Nick has reinvented himself every decade and sold several companies, most notably his software company for ~$400 million. One of his biggest wins came from reading the rules that governed his trading business. His logic was that most people, even those working closely with the rules, hadn't read the entire rulebook. By reading the rules himself, he discovered that some restrictions people assumed existed weren't actually in the rulebook. This allowed him to identify an opportunity others had overlooked. He found a way to communicate directly between his New York and Chicago trading teams, giving them a speed advantage that helped his firm generate over $100 million in arbitrage profits in one year. His insight on timescale arbitrage stuck with me too. If you can dramatically reduce the time required to do something, you may create an advantage that others cannot immediately replicate. I think entrepreneurs can uncover opportunities by asking themselves this question: Where does an industry operate on a timescale that's unnecessarily slow, and what opportunity would emerge if that timescale were dramatically compressed?

That’s what I learned from what I consumed last week.