Stick like hell When the Wizard of Menlo Park called invention 10 percent inspiration and 90 percent perspiration, he was speaking not only about the creative act of inventing but also about the whole inventive process needed to bring more than intellectual success. Edison warned against discouragement during the perspiration phase in the following way, reminding us that we get things to work by the successive removal of bugs: Genius? Nothing! Sticking to it is the genius! Any other bright-minded fellow can accomplish just as much of he will stick like hell and remember nothing that's any good works by itself. You've got to make the damn thing work!...I failed my way to success. Thomas Edison, The Evolution of Useful Things inventionsuccess
The Wile E. Coyote Effect I’ve been looking at this chart a lot over the past few weeks. It shows us that print ad budgets were doing just fine all the way though the first decade or more of the consumer internet. There was even a little spike upward for the Dotcom bubble. Then the financial crisis and recession of 2008/9 caused a step change down, but when the crisis was over the budgets didn’t come back. Instead, the market had been reset, and budgets have been falling steadily ever since. You might call this the Will E Coyote effect - you’ve run off the cliff, or the cliff has disappeared from under you, but there’s a brief moment while your legs windmill in the air before gravity kicks in. It can take a while for the inevitable to happen, but then, as Lenin pointed out, you get a decade of inevitable in a week. Benedict Evans, COVID and cascading collapses www.ben-evans.com When decades happen business