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Chaos Monkeys: Obscene Fortune and Random Failure in Silicon Valley by Antonio Garcia Martinez
Airbnb, airport security, Amazon Web Services, Burning Man, Celtic Tiger, centralized clearinghouse, cognitive dissonance, collective bargaining, corporate governance, Credit Default Swap, crowdsourcing, death of newspapers, El Camino Real, Elon Musk, Emanuel Derman, financial independence, global supply chain, Goldman Sachs: Vampire Squid, hive mind, income inequality, interest rate swap, intermodal, Jeff Bezos, Malcom McLean invented shipping containers, Mark Zuckerberg, Maui Hawaii, means of production, Menlo Park, minimum viable product, move fast and break things, Network effects, Paul Graham, performance metric, Peter Thiel, Ponzi scheme, pre–internet, Ralph Waldo Emerson, random walk, Sand Hill Road, Scientific racism, second-price auction, self-driving car, Silicon Valley, Silicon Valley startup, Skype, Snapchat, social graph, social web, Socratic dialogue, Steve Jobs, telemarketer, urban renewal, Y Combinator, éminence grise
Contents Author’s Note Dedication Prologue: The Garden of Forking Paths PART ONE: Disturbing the Peace The Undertakers of Capitalism The Human Attention Exchange Knowing How to Swim Abandoning the Shipwreck PART TWO: Pseudorandomness Let Me See Your War Face Like Marriage, but without the Fucking Speed Is a Feature D-Day A Conclave of Angels The Hill of Sand Turning and Turning in the Widening Gyre ¡No Pasarán! The Dog Shit Sandwich Victory Launching! Dates @Twitter Acquisition Chicken Getting Liked Getting Poked The Various Futures of the Forking Paths Retweets Are Not Endorsements The Dotted Line Endgame PART THREE: Move Fast and Break Things Boot Camp Product Masseur Google Delenda Est Leaping Headlong One Shot, One Kill Twice Bitten, Thrice Shy Ads Five-Oh The Narcissism of Privacy Are We Savages or What? O Death The Barbaric Yawn Going Public When the Flying Saucers Fail to Appear Monetizing the Tumor The Great Awakening Barbarians at the Gates IPA > IPO Initial Public Offering: A Reevaluation Flash Boys Full Frontal Facebook Microsoft Shrugged Ad Majorem Facebook Gloriam Adiós, Facebook Pandemonium Lost Epilogue: Man Plans and God Laughs Acknowledgments Index About the Author Credits Copyright About the Publisher Prologue: The Garden of Forking Paths Had I had been present at the creation, I would have given some useful hints for the better ordering of the universe.
That’s another little detail the self-glorifying founders of acquired companies often fail to mention. Had I executed the optimal strategy, my return on AdGrok would likely have been hundreds of thousands or perhaps millions of dollars more than it eventually was. Plus, the additional cash or Twitter stock would have served as a hedge to my all-in position in Facebook. Morality, such as it exists in the tech whorehouse, is an expensive hobby indeed. Part Three Move Fast and Break Things Facebook was not originally created to be a company. It was built to accomplish a social mission—to make the world more open and connected. —Mark Zuckerberg, Facebook Inc. IPO documents (2012) Boot Camp Once having traversed the threshold, the hero moves in a dream landscape of curiously fluid, ambiguous forms, where he must survive a succession of trials. The hero is covertly aided by the advice, amulets, and secret agents of the supernatural helpers whom he met before his entrance into this region.
It was as tattered and flaking as some historical artifact. When Facebook arrived, instead of replacing the original sign, management had simply flipped it around, and intentionally neglected to paint or cover the back. It read SUN MICROSYSTEMS, along with the quadrangular logo made of S figures that used to appear at the top of every Web page you loaded. This too shall pass. What befell Sun could befall us too, so MOVE FAST AND BREAK THINGS! Zuck was saying by implication. Perhaps even the mighty Facebook Like button would one day be looked upon like the inscription on the fragment of Ozymandias’s statue in Shelley’s rumination on the transience of human ambition: an arrogant spasm of striving, forgotten and abandoned. Every morning I bicycled the six miles from my sailboat docked in Redwood City to the new campus, which sat on an artificial spit of land poking into the tidal marshes that formed the San Francisco Bay’s boggy southern tip.
The Internet Is Not the Answer by Andrew Keen
3D printing, A Declaration of the Independence of Cyberspace, Airbnb, AltaVista, Andrew Keen, augmented reality, Bay Area Rapid Transit, Berlin Wall, bitcoin, Black Swan, Burning Man, Cass Sunstein, citizen journalism, Clayton Christensen, clean water, cloud computing, collective bargaining, Colonization of Mars, computer age, connected car, cuban missile crisis, David Brooks, disintermediation, Downton Abbey, Edward Snowden, Elon Musk, Erik Brynjolfsson, Fall of the Berlin Wall, Filter Bubble, Francis Fukuyama: the end of history, Frank Gehry, Frederick Winslow Taylor, frictionless, full employment, future of work, gig economy, global village, Google bus, Google Glasses, Hacker Ethic, happiness index / gross national happiness, income inequality, index card, informal economy, information trail, Innovator's Dilemma, Internet of things, Isaac Newton, Jaron Lanier, Jeff Bezos, job automation, Joseph Schumpeter, Julian Assange, Kevin Kelly, Kickstarter, Kodak vs Instagram, Lean Startup, libertarian paternalism, Lyft, Mark Zuckerberg, Marshall McLuhan, Martin Wolf, move fast and break things, Nate Silver, Network effects, new economy, Nicholas Carr, nonsequential writing, Norbert Wiener, Occupy movement, packet switching, PageRank, Paul Graham, Peter Thiel, Plutocrats, plutocrats, Potemkin village, precariat, pre–internet, RAND corporation, Ray Kurzweil, ride hailing / ride sharing, Second Machine Age, self-driving car, sharing economy, Silicon Valley, Silicon Valley ideology, Skype, smart cities, Snapchat, social web, South of Market, San Francisco, Steve Jobs, Steve Wozniak, Steven Levy, Stewart Brand, TaskRabbit, Ted Nelson, telemarketer, the medium is the message, Thomas L Friedman, Tyler Cowen: Great Stagnation, Uber for X, urban planning, Vannevar Bush, Whole Earth Catalog, WikiLeaks, winner-take-all economy, working poor, Y Combinator
The guy, who might have been outfitted to hang out at the Battery, was wielding a sledgehammer with which he was energetically smashing some plastic objects into smithereens. REALLY CREATIVE DESTRUCTION, the magazine’s headline screamed in letters as black as the dude’s goatee and glasses.8 One doesn’t need to be a semiotician to grasp the significance of seeing this picture—with its “move fast and break things” message—in Rochester, of all places. Much of Rochester’s industrial economy had itself been smashed into smithereens over the last twenty-five years by a Schumpeterian hurricane of creative destruction. The significance of that magazine cover was, therefore, hard to miss: the sledgehammer mirrored the destructive might of the digital revolution; while the plastic objects being destroyed represented the broken city itself.
Noblesse oblige, after all, can’t be legislated. As critics like Tim Wu have argued, the answer lies in our new digital elite becoming accountable for the most traumatic socioeconomic disruption since the industrial revolution. Rather than thinking differently, the ethic of this new elite should be to think traditionally. Rather than seceding to Burning Man or Mars, this plutocracy must be beamed back down to earth. “Move fast and break things” was the old hacker ethic; “you break it, you own it” should be the new one. Rather than an Internet Bill of Rights, what we really need is an informal Bill of Responsibilities that establishes a new social contract for every member of networked society. Silicon Valley has fetishized the ideals of collaboration and conversation. But where we need real collaboration is in our conversation about the impact of the Internet on society.
., August 16, 2012, inc.com/eric-markowitz/brilliant-failures/why-silicon-valley-loves-failures.html/1. 8 MIT Technology Review, September/October 2013, technologyreview.com/magazine/2013/09. The young entrepreneur featured on the cover was Ben Milne, the founder and CEO of a digital payments startup called Dwolla, who, the magazine claimed, was seeking to “demolish” the finance industry. Milne seems to think of himself as a big-time demolisher. On his own Instagram page, for example, he posted an image saying: “MOVE FAST AND BREAK THINGS.” instagram.com/p/epyqnEHQwg. 9 David Wills, Hollywood in Kodachrome (New York: HarperCollins, 2013), p. xiii. 10 Ibid. Kodachrome film was also used to make eighty Oscar winners of the Best Picture award. See Rupert Neate, “Kodak Falls in the Creative Destruction of the Digital Age,” Guardian, January 19, 2013, theguardian.com/business/2012/jan/19/kodak-bankruptcy-protection. 11 Ellen Gamerman, “I Snap Therefore I Am,” Wall Street Journal, December 13, 2013. 12 Ibid. 13 John Naughton, “Could Kodak’s Demise Have Been Averted?
Airbnb, business intelligence, cloud computing, financial independence, Google Glasses, hiring and firing, Isaac Newton, Jeff Bezos, Mark Zuckerberg, move fast and break things, new economy, nuclear winter, Peter Thiel, Productivity paradox, random walk, Ronald Reagan, Silicon Valley, six sigma, Steve Ballmer, Steve Jobs
No problem, just bring one hundred dollars to the meeting and pay your fine. When new employees come on board, they find this shocking, which gives us a great opportunity to explain in detail why we respect entrepreneurs. If you don’t think entrepreneurs are more important than venture capitalists, we can’t use you at Andreessen Horowitz. Move fast and break things Mark Zuckerberg believes in innovation and he believes there can be no great innovation without great risk. So, in the early days of Facebook, he deployed a shocking motto: Move fast and break things. Did the CEO really want us to break things? I mean, he’s telling us to break things! A motto that shocking forces everyone to stop and think. When they think, they realize that if you move fast and innovate, you will break things. If you ask yourself, “Should I attempt this breakthrough?
3D printing, Black Swan, British Empire, Buckminster Fuller, Clayton Christensen, crowdsourcing, deliberate practice, fear of failure, Filter Bubble, future of work, Google Glasses, Isaac Newton, James Dyson, Jaron Lanier, Jeff Bezos, job automation, Lean Startup, low skilled workers, Mark Zuckerberg, move fast and break things, Paul Erdős, Paul Graham, recommendation engine, rising living standards, Robert Shiller, Robert Shiller, Silicon Valley, Silicon Valley startup, skunkworks, Steve Ballmer, Steve Jobs, Y Combinator
Typically, ten teams will be selected to relocate to wherever the program is based (London, NYC, LA, San Francisco, Boston, Chicago, San Diego, Boulder) and there they consume rivers of coffee (bad and good) and a lifetime’s advice (also bad and good) in twelve lightning fast weeks. The team of founders – typically two or three people at the outset – sell a small percentage of their business to the program in return for a small amount of cash plus the intense mentoring, coaching, resources, access to investors and relevant industry experts and potential customers. “Fail harder” urges a poster tacked to one wall. Others ask of you: “Move Fast and Break Things” and “What Would You Do If You Weren’t Afraid?”. In start-up-land, failure has become a component of the methodology for success. The Lean Startup, a book that codifies the start-up business approach, has become the management textbook for building success on failure. “You need to create a discipline to enable you to fail and learn fast,” said its author, Eric Ries. “A management discipline for failure.”
Bold: How to Go Big, Create Wealth and Impact the World by Peter H. Diamandis, Steven Kotler
3D printing, additive manufacturing, Airbnb, Amazon Mechanical Turk, Amazon Web Services, augmented reality, autonomous vehicles, cloud computing, crowdsourcing, Daniel Kahneman / Amos Tversky, dematerialisation, deskilling, Elon Musk, en.wikipedia.org, Exxon Valdez, fear of failure, Firefox, Galaxy Zoo, Google Glasses, Google Hangouts, Google X / Alphabet X, gravity well, industrial robot, Internet of things, Jeff Bezos, John Harrison: Longitude, Jono Bacon, Just-in-time delivery, Kickstarter, Kodak vs Instagram, Law of Accelerating Returns, Lean Startup, life extension, loss aversion, Louis Pasteur, Mahatma Gandhi, Mark Zuckerberg, Mars Rover, meta analysis, meta-analysis, microbiome, minimum viable product, move fast and break things, Narrative Science, Netflix Prize, Network effects, Oculus Rift, optical character recognition, packet switching, PageRank, pattern recognition, performance metric, Peter H. Diamandis: Planetary Resources, Peter Thiel, pre–internet, Ray Kurzweil, recommendation engine, Richard Feynman, Richard Feynman, ride hailing / ride sharing, risk tolerance, rolodex, self-driving car, sentiment analysis, shareholder value, Silicon Valley, Silicon Valley startup, skunkworks, Skype, smart grid, stem cell, Stephen Hawking, Steve Jobs, Steven Levy, Stewart Brand, technoutopianism, telepresence, telepresence robot, Turing test, urban renewal, web application, X Prize, Y Combinator
And the average person—you and me—must be willing to fail, look foolish, and fall flat on our faces should we wish to enter this state.” These facts also tell us that those exponential entrepreneurs with “fail forward” as their de facto motto have an incredible advantage. If people don’t have the space to fail, then they don’t have the ability to take risks. At Facebook, there is a sign hanging in the main stairwell that reads: “Move fast, break things.” This kind of attitude is critical. If you’re not incentivizing risk, you’re denying access to flow—which is the only way to keep pace in a breakneck world. Rich environment, the next environmental trigger, is a combination platter of novelty, unpredictability, and complexity—three elements that catch and hold our attention much like risk. Novelty means both danger and opportunity, and when either are present, it pays to pay attention.
Airbnb, Amazon Web Services, barriers to entry, Black Swan, business intelligence, call centre, crowdsourcing, en.wikipedia.org, game design, Google Glasses, Google Hangouts, Google X / Alphabet X, iterative process, Jeff Bezos, Jony Ive, Kickstarter, knowledge worker, Lean Startup, loose coupling, Mark Zuckerberg, minimum viable product, move fast and break things, Network effects, Oculus Rift, Paul Graham, self-driving car, Silicon Valley, Silicon Valley startup, Skype, Snapchat, social graph, software as a service, software is eating the world, Steve Jobs, Steven Levy, Y Combinator
That simple declaration created an IT, as well as cultural, architecture that catalysed the growth of Amazon Web Services. Within a few short years of its launch in 2006, the service was already a billion-dollar business.2 In short, small teams can run fast and innovate because of their size and the fact that they’re not reliant on the technology from other teams. Move Fast and Break Things Facebook created a culture of agility, promoting a philosophy to ‘move fast and break things’.3 Mark Zuckerberg explained the company’s ‘hacker way’ in a letter to investors:4 Hackers try to build the best services over the long term by quickly releasing and learning from smaller iterations rather than trying to get everything right all at once … We have the words ‘Done is better than perfect’ painted on our walls to remind ourselves to always keep shipping.
Terms of Service: Social Media and the Price of Constant Connection by Jacob Silverman
23andMe, 4chan, A Declaration of the Independence of Cyberspace, Airbnb, airport security, Amazon Mechanical Turk, augmented reality, Brian Krebs, California gold rush, call centre, cloud computing, cognitive dissonance, correlation does not imply causation, Credit Default Swap, crowdsourcing, don't be evil, Edward Snowden, feminist movement, Filter Bubble, Firefox, Flash crash, game design, global village, Google Chrome, Google Glasses, hive mind, income inequality, informal economy, information retrieval, Internet of things, Jaron Lanier, jimmy wales, Kevin Kelly, Kickstarter, knowledge economy, knowledge worker, late capitalism, license plate recognition, life extension, Lyft, Mark Zuckerberg, Mars Rover, Marshall McLuhan, meta analysis, meta-analysis, Minecraft, move fast and break things, national security letter, Network effects, new economy, Nicholas Carr, Occupy movement, optical character recognition, payday loans, Peter Thiel, postindustrial economy, prediction markets, pre–internet, price discrimination, price stability, profit motive, quantitative hedge fund, race to the bottom, Ray Kurzweil, recommendation engine, rent control, RFID, ride hailing / ride sharing, self-driving car, sentiment analysis, shareholder value, sharing economy, Silicon Valley, Silicon Valley ideology, Snapchat, social graph, social web, sorting algorithm, Steve Ballmer, Steve Jobs, Steven Levy, TaskRabbit, technoutopianism, telemarketer, transportation-network company, Turing test, Uber and Lyft, Uber for X, universal basic income, unpaid internship, women in the workforce, Y Combinator, Zipcar
These headlines might promise a revelation or an exclusive but reveal little at all or are written in the form of provocative questions (to which the answer is almost always “no”). The story may not even be true, but if it can gin up a scandal—if the credibility of the story itself becomes the story, or the poorly sourced story is deemed to have raised questions—then that’s enough. Attention is the most sought-after commodity, and the motto of its purveyors might as well be, “Ask for Forgiveness, Not Permission” (which is not unlike Facebook’s “Move Fast and Break Things”). Here’s how the churnalistic cycle usually goes. On July 29, 2013, the Daily Beast tweeted what it claimed was a “scoop”: Cory Booker, Newark’s mayor at the time, would be visiting Iowa in the next month, presumably to lay the groundwork for a 2016 presidential campaign. Their source was a calendar on the University of Iowa’s Web site, though the university “did not return a call asking for comment,” a euphemism which, in such cases, often means that the call was placed shortly before the story was set to run.
But in the meantime, he has created something strangely profound, a sly and ephemeral outsider art. All this might sound a little Soviet—only art sanctioned by the state, in the appropriate styles, may be displayed—but that’s essentially the case. Social media is the staid, whitewalled showroom. You may only hang your paintings in the designated areas, and please don’t touch the exhibits. Facebook’s mantras of “Move Fast and Break Things” and “The Hacker Way” apply only to its engineers, not to Facebook’s users. In the summer of 2013, a Palestinian hacker named Khalil Shreateh tried to report a security hole on Facebook that would allow someone with the proper knowledge to post on anyone’s wall. Because Facebook, like many tech companies, offers cash bounties to white-hat hackers who alert them to security issues, Shreateh submitted a report.
Big Data at Work: Dispelling the Myths, Uncovering the Opportunities by Thomas H. Davenport
Automated Insights, autonomous vehicles, bioinformatics, business intelligence, business process, call centre, chief data officer, cloud computing, data acquisition, Edward Snowden, Erik Brynjolfsson, intermodal, Internet of things, Jeff Bezos, knowledge worker, Mark Zuckerberg, move fast and break things, Narrative Science, natural language processing, Netflix Prize, New Journalism, recommendation engine, RFID, self-driving car, sentiment analysis, Silicon Valley, smart grid, smart meter, social graph, sorting algorithm, statistical model, Tesla Model S, text mining
Their focus was almost exclusively on big data, and it was generally the focus of engineering or product development organizations rather than the IT function. Some of the smaller start-up firms don’t even have in-house IT functions; they outsource business IT. Some of the big data lessons from start-up and online firms are derived from and are similar to other general IT and entrepreneurship lessons from Silicon Valley firms. They include the injunction, popularized by Facebook founder Mark Zuckerberg, to “move fast and break things,” and not worry too much about making mistakes. Another is to have bold and audacious goals that involve objectives other than simply making a lot of money. Facebook hopes to “make the world more open and connected.” Google’s well-publicized mission is to “organize the world’s information and make it universally accessible and useful.” However, these general lessons have only limited relevance to big data topics, and they are pretty well known in the business literature.
4chan, Airbnb, Amazon Mechanical Turk, asset-backed security, barriers to entry, Berlin Wall, big-box store, bitcoin, blockchain, citizen journalism, collaborative consumption, congestion charging, Credit Default Swap, crowdsourcing, data acquisition, David Brooks, don't be evil, gig economy, Hacker Ethic, income inequality, informal economy, invisible hand, Jacob Appelbaum, Jane Jacobs, Jeff Bezos, Khan Academy, Kibera, Kickstarter, license plate recognition, Lyft, Mark Zuckerberg, move fast and break things, natural language processing, Netflix Prize, Network effects, new economy, Occupy movement, openstreetmap, Paul Graham, peer-to-peer lending, Peter Thiel, pre–internet, principal–agent problem, profit motive, race to the bottom, Ray Kurzweil, recommendation engine, rent control, ride hailing / ride sharing, sharing economy, Silicon Valley, Snapchat, software is eating the world, South of Market, San Francisco, TaskRabbit, The Nature of the Firm, Thomas L Friedman, transportation-network company, Uber and Lyft, Uber for X, ultimatum game, urban planning, WikiLeaks, winner-take-all economy, Y Combinator, Zipcar
Any short description will undoubtedly be an oversimplification, and of course there are disagreements and disputes among its adherents, but a coherent Internet culture does exist. It embraces values of rebellion, drawing from a loose set of attitudes sometimes called the hacker ethic. Facebook’s headquarters are at “One Hacker Way” and it has the word HACK laid out in 12-meter letters in the stone. The company’s mantra until last year was “move fast and break things,” and Mark Zuckerberg recently explained to potential investors: “Hackers believe that something can always be better, and that nothing is ever complete. They just have to go fix it—often in the face of people who say it’s impossible or are content with the status quo.” Internet culture also believes that the Internet itself is a key to building a better world. The invention of the Internet marks a break with the past, and an opportunity to open many old political and social debates.
23andMe, 3D printing, additive manufacturing, Affordable Care Act / Obamacare, Airbnb, airport security, Albert Einstein, algorithmic trading, artificial general intelligence, augmented reality, autonomous vehicles, Baxter: Rethink Robotics, Bill Joy: nanobots, bitcoin, Black Swan, blockchain, borderless world, Brian Krebs, business process, butterfly effect, call centre, Chelsea Manning, cloud computing, cognitive dissonance, computer vision, connected car, corporate governance, crowdsourcing, cryptocurrency, data acquisition, data is the new oil, Dean Kamen, disintermediation, don't be evil, double helix, Downton Abbey, Edward Snowden, Elon Musk, Erik Brynjolfsson, Filter Bubble, Firefox, Flash crash, future of work, game design, Google Chrome, Google Earth, Google Glasses, Gordon Gekko, high net worth, High speed trading, hive mind, Howard Rheingold, hypertext link, illegal immigration, impulse control, industrial robot, Internet of things, Jaron Lanier, Jeff Bezos, job automation, John Harrison: Longitude, Jony Ive, Julian Assange, Kevin Kelly, Khan Academy, Kickstarter, knowledge worker, Kuwabatake Sanjuro: assassination market, Law of Accelerating Returns, Lean Startup, license plate recognition, litecoin, M-Pesa, Mark Zuckerberg, Marshall McLuhan, Menlo Park, mobile money, more computing power than Apollo, move fast and break things, Nate Silver, national security letter, natural language processing, obamacare, Occupy movement, Oculus Rift, offshore financial centre, optical character recognition, pattern recognition, personalized medicine, Peter H. Diamandis: Planetary Resources, Peter Thiel, pre–internet, RAND corporation, ransomware, Ray Kurzweil, refrigerator car, RFID, ride hailing / ride sharing, Rodney Brooks, Satoshi Nakamoto, Second Machine Age, security theater, self-driving car, shareholder value, Silicon Valley, Silicon Valley startup, Skype, smart cities, smart grid, smart meter, Snapchat, social graph, software as a service, speech recognition, stealth mode startup, Stephen Hawking, Steve Jobs, Steve Wozniak, strong AI, Stuxnet, supply-chain management, technological singularity, telepresence, telepresence robot, Tesla Model S, The Wisdom of Crowds, Tim Cook: Apple, trade route, uranium enrichment, Wall-E, Watson beat the top human players on Jeopardy!, Wave and Pay, We are Anonymous. We are Legion, web application, WikiLeaks, Y Combinator, zero day
The key question is how to harness these tools to achieve the maximum possible good while minimizing their downsides. Here’s how we might survive progress. Killer Apps: Bad Software and Its Consequences Every time you get a security update … whatever is getting updated has been broken, lying there vulnerable, for who-knows-how-long. Sometimes days, sometimes years. QUINN NORTON Facebook’s software developers have long lived by the mantra “Move fast and break things.” The saying, which was emblazoned on the walls across the company’s headquarters, reflected Facebook’s hacker ethos, which dictated that even if new software tools or features were not perfect, speed of code creation was key, even if it caused problems or security issues along the way. According to Zuckerberg, “If you never break anything, you’re probably not moving fast enough.” Facebook is not alone in its softwarecoding practices.
Data Scientists at Work by Sebastian Gutierrez
Albert Einstein, algorithmic trading, bioinformatics, bitcoin, business intelligence, chief data officer, clean water, cloud computing, computer vision, continuous integration, correlation does not imply causation, crowdsourcing, data is the new oil, DevOps, domain-specific language, follow your passion, full text search, informal economy, information retrieval, Infrastructure as a Service, inventory management, iterative process, linked data, Mark Zuckerberg, microbiome, Moneyball by Michael Lewis explains big data, move fast and break things, natural language processing, Network effects, nuclear winter, optical character recognition, pattern recognition, Paul Graham, personalized medicine, Peter Thiel, pre–internet, quantitative hedge fund, quantitative trading / quantitative ﬁnance, recommendation engine, Renaissance Technologies, Richard Feynman, Richard Feynman, self-driving car, side project, Silicon Valley, Skype, software as a service, speech recognition, statistical model, Steve Jobs, stochastic process, technology bubble, text mining, the scientific method, web application
Gutierrez: What did your typical day look like at Salesforce? Jonas: At Salesforce, a lot of our challenges revolved around overall integration, integration with the existing systems, and talking to customers. This made life much less hectic. The challenges inside of any large company are very different from startups, as the incentive structure is so different. In a startup you can move very quickly. The Facebook mantra of “move fast and break things” works at startups because when you break things, no one cares—because generally you have four customers, whom you likely met through a friend of a friend, or a friend of a VC. So if you break something, you can call up www.it-ebooks.info Data Scientists at Work the CEO and say sorry. In a big company, you can’t do that, so it becomes more of navigating those waters and understanding how to play that game.