How Elon Musk Thinks

 
 
Paying Attention: I like Elon Musk. He thinks big. He does big. He takes big risks. He wins some, he loses some, but he’s got the right attitude about it all. He just keeps moving forward. He is also transparent, something which far too many people in business are not. Got to love that as well.
Musk recently released through TESLA his Master Plan, Part Deux.

This is the second part of his big vision for Tesla. It’s a short read but that’s perfect. A truly great business plan is one page because people can comprehend and execute one page of initiative and strategy and innovation. A huge business plan–something in the 200-300 page range–is just a cumbersome document that’s hard to bring to life. I know a lot about business plans because I have written a lot of them. Including the 200-300 page documents. The best advice I ever received was from a college business professor who said a good BP needs to be one page and the rest of is rationale, research, documentation to validate the one page you’re going to do. Sold. All in.
I encourage you to take the time to read Musk’s Master Plan for two reasons. One is that you will not see anything like his Master Plan from any other car company (but please know that a large part of Musk’s advantage at Tesla is that they are distinctly not like any other car company). It’s clear, understandable, reasonable, backed up with enough of the right kind of numbers and logical. It is a very good read.
The second reason I encourage you to read the Master Plan, Part Deux is it provides insight into how Elon Musk thinks and, I believe it’s time to acknowledge the fact that Elon thinks a lot  better–a whole lot better–than most of us. There is a clarity and direct simplicity in the way he thinks that is instructional if you’re the type that pays attention to these things. If you’re not–move on. It’s going to go past you anyway.
Also, almost simultaneous with the release of the Master Plan Part Deux, Tesla’s Gigafactory is going online.

And you need know something about that as well. So please click this link to go to Wired’s post on the Gigafactory. 
Do those two things–read the Master Plan and then Wired‘s piece on the Gigafactory–and you’re going to be a hell of a lot of smarter about one of America’s most innovative and disruptive companies then you were yesterday. It’s a good use of your time.
The Fine Print: Images from Getty Images (all rights reserved, used by permission). As always, we thank Getty Images (who have a massive archive of photos of all kinds of stuff) for sharing. Thanks guys. 
 
 
 
 
 
 

The Art of the Movie Trailer: Dr. Strange

The Latest Word: The power of the Marvel Comics film franchise is undeniable–in a world in which the success of a film is sometimes a direct correlation to it’s CGI/action content and super-hero character traits, Marvel is king of the hill. The Marvel franchise(s) have had quite a labyrinthine history, but despite all the wild buying/selling/licensing, the characters created and/or owned by Marvel have turned out to be some of the most powerful box office draws in recent history and rights to Marvel characters to be  one of the very best movie investments ever: over $21 Billion in total box office for the entire universe of Marvel characters. The lure of playing Marvel characters (and the compensation for such roles) is strong enough to attract some of the very best “serious” actors. This time, its Benedict Cumberbatch who has gone on board with Marvel to star as the lead in  Dr. Strange. Cumberbatch is a very good young actor (His Sherlock TV series is a classic) and he will bring a certain amount of gravitas to the genre. Dr. Strange is coming this fall; here’s a short teaser that gives a glimpse of what to expect from the latest tent pole in the Marvel franchise.
And, for further research, a Clickpak on Marvel’s amazing cinematic world:
How Much Money Have the Marvel Films Made
Marvel’s Film Schedule: 2016-2019
The Numbers on Marvel
Deep Background: Marvel Studios
 
 

High Beta: Why A Speech at the RNC has Silicon Valley nervous

Paying Attention: The final night of the Republican National Convention is this evening and, like all the nights that have preceded it, this one promises plenty of drama. But one speech and the person delivering it tonight have   captured the attention–along with worried anticipation– of Silicon Valley. The speaker of nervous focus tonight is Peter Thiel.

Thiel is the  venture capitalist who put money into Facebook (early stage) and a co-founder of PayPal;  he has most recently been in the news because he backed the  legal expense of the Hulk Hogan lawsuit against the website Gawker (which Hogan won, in the amount of $150 million in damages). Thiel’s political views do not, of course, represent the views of all of Silicon Valley–he is a a very talented entrepreneur and it would be a mistake to believe that he does not think “out of the box” on everything, not just technology– but the point not to be missed, however, is that Mr. Thiel is going to bring attention to something that most in Silicon Valley would prefer remain undefined and not emphasized: the political views of the tech industry or the executives in it.  Generally, the tech industry prefers to get to work and stay out of the messy world that is now American politics. Like it or not, they’re going to be in the spotlight tonight. The Thiel speech could be very well received or it could bomb–no one will know until tomorrow morning but one thing is certain–it is a “high beta” event. High Beta is a Silicon Valley term for an investment that offers massive positive potential but also carries a very high risk of failure. To use the current phrase of the day, Thiel’s speech could be binary: either a hit or a miss. Peter Thiel speaks tonight at the RNC. That such a prominent venture capitalist speaks at a political convention is itself a historic event and not to be missed.  It is highly suggested to tune in.
 
The Fine Print: Photo of Peter Thiel courtesy of Getty Images (all rights reserved; used by permission). If you have a non-commercial blog, you need to have a Getty Images account. It’s that simple. Thanks, guys, for sharing. 
 
 

Disrupting the bike

Press Clippings: The Tour De France bicycle race (arguably the most famous bicycle race in the world) is now in progress and, with the Tour comes an amazing bump in interest in bicycles and bicycle racing.

Maybe it has something to do with the wall-to-wall coverage the event is receiving from NBCSN (NBCSportsNetwork) or maybe it’s just because it’s summer and everyone likes to ride bikes during the summer. The Tour is approximately 2200 miles long and alternatives each year running clockwise one year and then  counter-clockwise the next, in France over a 21 to 23 day period. Each Tour consists of a series of “stages” that include mountain climbs, time trials, the final sprint down the Champs Elysee in Paris and rides over many miles of French roads. It is to road racing what the British Open is to golf–the oldest and arguably the most prestigious of all bicycle races.
With increased interest in bicycling comes increased bicycle sales, but in America, the business model for bicycle sales has been very static since…forever. Bikes are sold through small retail outlets that carry and service specific brands of bicycles. But that model is about to change. The new way to buy bikes is online and Canyon, the company that’s bringing this disruptive business model to the American market is not American, but German. Canyon is already a big hit in Europe and throughout the world, but now they are coming to The Market: the United States. The irony is rich and deep: America is the country that has disrupted retail commerce throughout the world with its emphasis on no-stores/internet-only distribution. But the bike business didn’t get the word that they were vulnerable.
Exactly how vulnerable the U.S. distribution chain for bicycles will be is yet to be seen(the current business model is strikingly like the one used by automobile manufacturers: dealers commit to an order of bikes for the year, must promote and advertise and hustle to sell them, sell and make money on not just bikes but parts, service, and accessories and then…repeat…it’s not very efficient for anyone but the manufacturers). Canyon is making their move and with their own brand, available only through their online presence (do you see the similarities between Canyon and Tesla?) and a highly efficient production and distribution chain, yet another industry–and to be fair, group of knowledgeable sports specialists–may be in trouble.
 
The Fine Print: Photo courtesy of Getty Images, all rights reserved, used by permission. If you’ve got a small blog and are non-commercial (and no one is more non-commercial than this site), then check out Getty Images. Thanks guys, for sharing. 
 
 

Last Call At The Four Seasons

Paying Attention: The Four Seasons–the legendary eating and watering spot with interiors designed by superstar architects Ludwig Mies van der Rohe and Philip Johnson and located in the equally legendary Seagrams Building on Park Avenue in New York (also designed by Mies and Johnson)–closed on Saturday night.

With its closure, as with the closure of any great restaurant, bar, or hotel that has risen to the status of cultural icon,  an era passes. Deals were done, affairs were started (or ended), proposals were made and rejected, buyouts and sellouts celebrated, all within the confines of this most international of international style interiors. How and why it ended is material for another post, but, for today, please read Bloomberg’s take on the closing and this piece from the New York Times  to get a sense of the last night at an international institution. And, for the record, I have dined and had cocktails and gone to business events at the Four Seasons (including the introduction of a new Ferrari model, presented by models wearing dresses that appeared to be painted on, not pulled on) and, yes, it lived up to its’ billing.
Thanks for the Memories.
 
The Fine Print: Photo by Getty Images (all rights reserved, used by permission), who enables cultural and historical appreciation via their amazing library of photography. Thanks guys, for sharing. 

Which British Open ?

This post was originally published in July 0f 2016. It is repeated today as the final tournament of the “British Open” series, the Women’s British Open, is being contested today and over the weekend. The only conclusion to draw after reading up on the various Open golf championships in the U.K.–the Brits and Scots sure love their golf. 
 
Paying Attention: The British Open (AKA “The Open)  was one of the  the dominant sports stories of July,  especially with Jordan Spieth’s win, but dig a little deeper, and you’ll find that “The British Open” that devoured television coverage from Thursday to Sunday is not the only British Open. There are, in fact, four different British Opens, each one offering competition and glory to a different age/gender group.
The Junior British Open.  This tournament was taken over by the R&A(Royal & Ancient Golf Club of St. Andrews, one of the two major ruling bodies in golf) in 1994. It consists of three rounds of golf, stroke play, on courses  in the UK. The cut is made after 36 holes with the top 80 continuing to the final round. The event is staged every two years. Jordan Cox and Patrick Reed of the U.S. were past winners of the event.
 

The Senior British Open.  This is a tournament for players 50 and older and is typically played the week after the British Open. The event, also organized by the R&A, was first held in 1987 and has a field of 144 players; as with the British Open, there’s a qualifying round of 18 holes, held the Monday before the event, with 24 entry positions available. The remainder of the field is composed of:

  • Any past winner of The Senior Open Championship
  • Past winners of any of the major championships or The Players Championship
  • Winners of the European Tour Order of Merit (now Race to Dubai) in first five years of age eligibility
  • Winners of the BMW PGA Championship in first five years of age eligibility
  • Top 30 from the previous year’s European Senior Tour Order of Merit
  • Top 50 from the European Senior Tour all-time money list as of the start of the tournament
  • Top 30 from the previous year’s PGA Tour Champions money list
  • Top 50 from the PGA Tour Champions all-time money list as of the start of the tournament
  • Top 15 finishers, plus ties, from the previous year’s Senior Open Championship
  • Winners of official events on the European Senior Tour and PGA Tour Champions in the previous two years (starting with the first tournaments after The Senior Open Championship of two years prior)
  • Winners of official events on the European Tour, PGA Tour, PGA Tour of Australasia, Japan Golf Tour, and Sunshine Tour in first year of age eligibility
  • Past members of Ryder Cup or Presidents Cup teams in first year of age eligibility
  • Winners of the last five editions of all other events recognised as majors by PGA Tour Champions (Senior Players Championship, The Tradition, U.S. Senior Open, Senior PGA Championship)
  • Current holder of the Japan PGA Senior Championship
  • Current Japan Senior Open champion
  • Top four players, not already exempt, in the top 40 of the current year’s European Senior Tour Order of Merit as of the start of the tournament
  • Top eight players, not already exempt, in the top 75 of the current year’s PGA Tour Champions money list as of the start of the tournament
  • Current Seniors Open Amateur Champion
  • Current U.S. Senior Amateur champion
  • Leading amateur in the previous year’s Senior Open Championship who completed 72 holes
  • The Championship Committee may award special exemptions.
  • (Source: Wikipedia.com )

Past winners of the Senior British Open include Tom Watson (3x), Gary Player (3x), Fred Couples, Christy O’Connor Jr. (2x), Bob Charles (2x), and Bernhard Langer (3x) among others. The purse is approx US $2.0 million.
The Women’s British Open (AKA Ricoh Women’s British Open).  This event, intended to be the women’s equivalent of the male British Open, was established in 1976. It struggled in its’ early years as the very top U.K. courses did not make their courses available for hosting, but in 1999, Royal Lytham and St. Anne’s hosted and then Turnberry, Royal Birkdale, and The Old Course at St. Andrews joined in–each new “traditional” championship course adding to the prestige of the event. Unlike the male British Open, the Women’s British Open plays on both links and regular courses, which, of course, opens up a very wide selection of golf clubs. The prize money is currently US$3.25 million. There are 144 available entry positions, with most of the field made up through exemptions; the remainder of the field plays through qualification. It is the only major recognized by the LPGA and the Ladies European Tour. Karie Webb of Australia and Sherri Steinhauer of the U.S. have each won the tournament 3 times.
The Open (Aka, The British Open)  The “original” British Open is the one conducted for male golfers, at various links courses in the U.K. The event was started in 1860 and is the oldest golf tournament in the world. It too is supervised by the R&A. One hundred forty-four (144) players comprise the field and, after four days of play, the winner is crowned “the Champion Golfer of the Year”. The tournament is–as you will have noted if you have seen any coverage –difficult, challenging, and marked by wild and unpredictable swings in weather, from very nice to very nasty. Past winners include the legends of the game, reaching back to Tom Morris (Sr. and Junior), Harry Varden, Bobby Jones, Walter Hagen, Jack Nicklaus, Arnold Palmer (who is credited with making the event popular in the U.S. by playing in the tournament the first year it was televised), Tiger Woods, Phil Mickelson, Tom Watson, Seve Ballesteros, and Rory McIlroy. The purse for 2017 was $10,250,000 with $1,845,000 to the winner.  (no doubt Brexit and the currency fluctuation of the pound sterling could reduce the take in American dollars). You are strongly encouraged to visit the Open website (above and, in particular, view their three minute film , “The One, The Open”. And next year, dial into their site and follow a round via their radio coverage, which is quite a treat.
The Fine Print: Image courtesy of our friends at Getty Images, who continue to fill in the visual gaps in the wide variety of stories reported and covered by this blog. All rights reserved, used by permission. Thanks, guys, for sharing.