May 09 Digest

When I wrote my 50^th birthday essay I mentioned that I was in the generation that straddled the slide rule and calculator, the one (as a friend reminded me) that still “rolls up” the car window, the one that shared one computer with 300 people in its first job and now has (about) 300 (often broken) computers for five family members at home. 

Even now, I wish Apple would add an AM radio to its iPod, though I expect I am in a minority "straddle" in this regard.

The other awkward straddle my generation did was between that “mixed-drink-greatest-generation” and the younger, wine & beer Gen X’s.  I never went on a three-martini lunch, for example, though there were still plenty of those going on when I took my first job on Wall Street.  On the other hand, I’m not sure I know my favorite micro-brewery or micro-winery from my elbow, so I kind of missed that wave as well.  It turns out, however, that help is on the way.  It seems Esquire has identified the one mixed drink that everyone should be able to make: the Old Fashioned.  So, just to help my alcoholically-challenged generation, I’ve included it as your “Cultcha” this month.  (Click on the mind map below, or write me for a copy).

What makes us happy?  If you track over 250 men for three generations you might have a clue, and it’s not what you think.  Take a look at the Harvard Study of Adult Development (in the Atlantic) that included a president, a bunch of cabinet members, and more than a few folks who didn’t make it into their 50s.

A.G. Lafley of P&G shares his thoughts about the four things that only a CEO can do.  It gets to the questions that a CEO should never ask his or her board, because the answer is assumed.  

Should I grow fast or grow profitably?  (Yes.)  

Should I invest in long-term or short-term projects?  (But of course.)  

Should I centralize or decentralize?  (You bet.)  

Lafley does a great job spelling out some of the basics.

There’s also some info in the mind map on great places to hike this summer, as well as ice breakers for early summer cocktail parties.  ("Did you know that rich parents favor firstborn children more than poor parents?)

The mind map below also has links to all of May’s Occasional CEO posts.

For updates, some of you know I’m a little skeptical about the social networking craze, at least as a sustainable set of businesses worthy of carrying the Silicon Valley mantle.  A May 26 article from the WSJ about Twitter was gasoline for the fire.  I will share with you my five favorite quotes:

Headline: “Micro-blogging site has 32 million users but hasn’t built revenue model or management team”

“Mr. Williams, 37 years old, and Mr. Stone, 35, say they don’t feel any external pressure to change their approach.  Instead, they want to develop the company slowly in order to find people who fit with its culture, which they are working to define through rituals such as family-style lunches and weekly 'teas,' or happy hours.”

“Meanwhile, Twitter is facing pressure to prove it has staying power, as a good number of users lose interest in the service after trying it for a while.”

Twitter raised $35 million from venture capitalists in February, on top of about $20 million previously raised.  That month, Twitter received a $255 million valuation that makes it unlikely the company would sell for anything less than $1 billion, people familiar with the matter say.”

“Twitter will need more ‘business-type folks eventually,; says Mr. Williams, but those are the ‘parts of the business that we haven’t fleshed out yet.’”

Finally, there was a great article in the WSJ about Baselworld, the international watch show.  Despite sliding sales in this recession, it doesn’t sound like the high-end watch folk have scaled back much.  In fact, I think I spotted five watch ads on page 2 and 3 of the Journal the other day—and not a watch under $10K.  Which is why I still love Swiss watches.

Here’s to good weather in June.

Posted by Entrepreneur Generations

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