Happy Halloween!

Check out this interactive Halloween card:

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AI Algorithms Are Facebook's Most Valuable IP

I recently read a Wall Street Journal article about Facebook and Instagram (which is owns).

When Facebook wanted to create an AI (artificial intelligence) algorithm to select which items should be featured on users' News Feeds, it spent a lot of time and manpower creating it.

However, when its Instagram unit wanted an AI algorithm to create a curated photo feed for users, "three or four engineers got the job done in less than five weeks".

This is because they took Facebook's algorithm, tweaked it, and trained it with Instagram data.

Arguably, these algorithms are the most important IP (intellectual property) at Facebook because:

1. They control the user experience and customer value.  If the algorithms don't do a good job selecting appropriate content, users may find a competing platform that gives them what they are looking for.

2. They provide leveraged simplicity for Facebook engineers because, every time they want to create a new application, the algorithms build on their accumulated learnings and because quicker to implement.  We're talking exponential leverage.

Thought Leadership = Simplicity

Today's Google Doodle honors Subrahmanyan Chandrasekhar from the University of Chicago, who was the first astrophysicist to win a Nobel Prize.

Reading his biography, I noticed That the main thing he is famous for is a simple, but profound fact named after him: "The Chandrasekhar Limit", which states that stars below 1.44 of the sun's mass can become white dwarfs. If they weigh more, they can become neutron stars or black holes.

Instead of saying the mass limit for white dwarves was some huge number that would make people's eyes glaze over, he compared it to something known (our sun's mass) and reduced it to a simple 1.44

This makes his IP (intellectual property) catchy and sticky.

My October Chicago Business Journal Column

https://www.bizjournals.com/chicago/news/2017/10/18/a-nudge-from-nobel-prize-winner-richard-thaler.html

Branding Simplicity: University of Illinois Consolidating Around The Block "I"

Branding Simplicity is part of Message Simplicity, an essential component of strategic simplicity®, which allows companies to have a competitive advantage in today's Attention Scarcity Age.

The University of Illinois recently recognized the value of branding simplicity when it announced that the university will retire the column "I" (in blue) and only use the block "I" (in orange):

The orange block "I" was first used in 1892 and has been a big part of athletics. But, since 1997, the U of I's nonathletic units have been using the blue column "I".

As Chancellor Robert J. Jones stated in the U of I alumni magazine: "The fact that the public is presented with multiple versions of a campus logo represents a significant problem and creates needless confusion."

Joe Flacco: Like Business, NFL Quarterbacking Depends on Time Management, Simplicity

Since Mitch Trubisky, the #2 pick in this year's draft, is now starting at quarterback for the Bears, the Chicago media is asking opposing quarterbacks about their rookie experiences.

This week, it's Joe Flacco of the Baltimore Ravens.

Flacco was drafted in 2008, started all 16 games, and got the Ravens into the playoffs.

His advice: Don't make football bigger than it is—just play the game you love, practice time management skills, and "finding ways to keep everything simple."

These are the same traits that will help you lead a successful business in today's Attention Scarcity Age, where your customers and employees are overwhelmed with information and speed of change.

Perfectly Imperfect - The Cost of Perfection

This chart shows the Cost of Perfection:

If you want to achieve 100% perfection on any project, product, service, or process, it will take about 70% of the cost (time, money, etc) to reach 90%.  The return of the final 10% is not worth the cost (final 30%).  There is a large diminishing return.

Therefore, unless you are a brain surgeon or rocket scientist, don't strive for perfection.  Instead, you want to achieve success and provide value.