More on Leadership
Will Lockett
3 years ago
Tesla recently disclosed its greatest secret.
The VP has revealed a secret that should frighten the rest of the EV world.
Tesla led the EV revolution. Elon Musk's invention offers a viable alternative to gas-guzzlers. Tesla has lost ground in recent years. VW, BMW, Mercedes, and Ford offer EVs with similar ranges, charging speeds, performance, and cost. Tesla's next-generation 4680 battery pack, Roadster, Cybertruck, and Semi were all delayed. CATL offers superior batteries than the 4680. Martin Viecha, Tesla's Vice President, recently told Business Insider something that startled the EV world and will establish Tesla as the EV king.
Viecha mentioned that Tesla's production costs have dropped 57% since 2017. This isn't due to cheaper batteries or devices like Model 3. No, this is due to amazing factory efficiency gains.
Musk wasn't crazy to want a nearly 100% automated production line, and Tesla's strategy of sticking with one model and improving it has paid off. Others change models every several years. This implies they must spend on new R&D, set up factories, and modernize service and parts systems. All of this costs a ton of money and prevents them from refining production to cut expenses.
Meanwhile, Tesla updates its vehicles progressively. Everything from the backseats to the screen has been enhanced in a 2022 Model 3. Tesla can refine, standardize, and cheaply produce every part without changing the production line.
In 2017, Tesla's automobile production averaged $84,000. In 2022, it'll be $36,000.
Mr. Viecha also claimed that new factories in Shanghai and Berlin will be significantly cheaper to operate once fully operating.
Tesla's hand is visible. Tesla selling $36,000 cars for $60,000 This barely beats the competition. Model Y long-range costs just over $60,000. Tesla makes $24,000+ every sale, giving it a 40% profit margin, one of the best in the auto business.
VW I.D4 costs about the same but makes no profit. Tesla's rivals face similar challenges. Their EVs make little or no profit.
Tesla costs the same as other EVs, but they're in a different league.
But don't forget that the battery pack accounts for 40% of an EV's cost. Tesla may soon fully utilize its 4680 battery pack.
The 4680 battery pack has larger cells and a unique internal design. This means fewer cells are needed for a car, making it cheaper to assemble and produce (per kWh). Energy density and charge speeds increase slightly.
Tesla underestimated the difficulty of making this revolutionary new cell. Each time they try to scale up production, quality drops and rejected cells rise.
Tesla recently installed this battery pack in Model Ys and is scaling production. If they succeed, Tesla battery prices will plummet.
Tesla's Model Ys 2170 battery costs $11,000. The same size pack with 4680 cells costs $3,400 less. Once scaled, it could be $5,500 (50%) less. The 4680 battery pack could reduce Tesla production costs by 20%.
With these cost savings, Tesla could sell Model Ys for $40,000 while still making a profit. They could offer a $25,000 car.
Even with new battery technology, it seems like other manufacturers will struggle to make EVs profitable.
Teslas cost about the same as competitors, so don't be fooled. Behind the scenes, they're still years ahead, and the 4680 battery pack and new factories will only increase that lead. Musk faces a first. He could sell Teslas at current prices and make billions while other manufacturers struggle. Or, he could massively undercut everyone and crush the competition once and for all. Tesla and Elon win.
Sammy Abdullah
3 years ago
Payouts to founders at IPO
How much do startup founders make after an IPO? We looked at 2018's major tech IPOs. Paydays aren't what founders took home at the IPO (shares are normally locked up for 6 months), but what they were worth at the IPO price on the day the firm went public. It's not cash, but it's nice. Here's the data.
Several points are noteworthy.
Huge payoffs. Median and average pay were $399m and $918m. Average and median homeownership were 9% and 12%.
Coinbase, Uber, UI Path. Uber, Zoom, Spotify, UI Path, and Coinbase founders raised billions. Zoom's founder owned 19% and Spotify's 28% and 13%. Brian Armstrong controlled 20% of Coinbase at IPO and was worth $15bn. Preserving as much equity as possible by staying cash-efficient or raising at high valuations also helps.
The smallest was Ping. Ping's compensation was the smallest. Andre Duand owned 2% but was worth $20m at IPO. That's less than some billion-dollar paydays, but still good.
IPOs can be lucrative, as you can see. Preserving equity could be the difference between a $20mm and $15bln payday (Coinbase).
Trevor Stark
3 years ago
Peter Thiels's Multi-Billion Dollar Net Worth's Unknown Philosopher
Peter Thiel studied philosophy as an undergraduate.
Peter Thiel has $7.36 billion.
Peter is a world-ranked chess player, has a legal degree, and has written profitable novels.
In 1999, he co-founded PayPal with Max Levchin, which merged with X.com.
Peter Thiel made $55 million after selling the company to eBay for $1.5 billion in 2002.
You may be wondering…
How did Peter turn $55 million into his now multi-billion dollar net worth?
One amazing investment?
Facebook.
Thiel was Facebook's first external investor. He bought 10% of the company for $500,000 in 2004.
This investment returned 159% annually, 200x in 8 years.
By 2012, Thiel sold almost all his Facebook shares, becoming a billionaire.
What was the investment thesis of Peter?
This investment appeared ridiculous. Facebook was an innovative startup.
Thiel's $500,000 contribution transformed Facebook.
Harvard students have access to Facebook's 8 features and 1 photo per profile.
How did Peter determine that this would be a wise investment, then?
Facebook is a mimetic desire machine.
Social media's popularity is odd. Why peek at strangers' images on a computer?
Peter Thiel studied under French thinker Rene Girard at Stanford.
Mimetic Desire explains social media's success.
Mimetic Desire is the idea that humans desire things simply because other people do.
If nobody wanted it, would you?
Would you desire a family, a luxury car, or expensive clothes if no one else did? Girard says no.
People we admire affect our aspirations because we're social animals. Every person has a role model.
Our nonreligious culture implies role models are increasingly other humans, not God.
The idea explains why social media influencers are so powerful.
Why would Andrew Tate or Kim Kardashian matter if people weren't mimetic?
Humanity is fundamentally motivated by social comparison.
Facebook takes advantage of this need for social comparison, and puts it on a global scale.
It aggregates photographs and updates from millions of individuals.
Facebook mobile allows 24/7 social comparison.
Thiel studied mimetic desire with Girard and realized Facebook exploits the urge for social comparison to gain money.
Social media is more significant and influential than ever, despite Facebook's decline.
Thiel and Girard show that applied philosophy (particularly in business) can be immensely profitable.
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Asha Barbaschow
3 years ago
Apple WWDC 2022 Announcements
WWDC 2022 began early Tuesday morning. WWDC brought a ton of new features (which went for just shy of two hours).
With so many announcements, we thought we'd compile them. And now...
WWDC?
WWDC is Apple's developer conference. This includes iOS, macOS, watchOS, and iPadOS (all of its iPads). It's where Apple announces new features for developers to use. It's also where Apple previews new software.
Virtual WWDC runs June 6-10. You can rewatch the stream on Apple's website.
WWDC 2022 news:
Completely everything. Really. iOS 16 first.
iOS 16.
iOS 16 is a major iPhone update. iOS 16 adds the ability to customize the Lock Screen's color/theme. And widgets. It also organizes notifications and pairs Lock Screen with Focus themes. Edit or recall recently sent messages, recover recently deleted messages, and mark conversations as unread. Apple gives us yet another reason to stay in its walled garden with iMessage.
New iOS includes family sharing. Parents can set up a child's account with parental controls to restrict apps, movies, books, and music. iOS 16 lets large families and friend pods share iCloud photos. Up to six people can contribute photos to a separate iCloud library.
Live Text is getting creepier. Users can interact with text in any video frame. Touch and hold an image's subject to remove it from its background and place it in apps like messages. Dictation offers a new on-device voice-and-touch experience. Siri can run app shortcuts without setup in iOS 16. Apple also unveiled a new iOS 16 feature to help people break up with abusive partners who track their locations or read their messages. Safety Check.
Apple Pay Later allows iPhone users to buy products and pay for them later. iOS 16 pushes Mail. Users can schedule emails and cancel delivery before it reaches a recipient's inbox (be quick!). Mail now detects if you forgot an attachment, as Gmail has for years. iOS 16's Maps app gets "Multi-Stop Routing," .
Apple News also gets an iOS 16 update. Apple News adds My Sports. With iOS 16, the Apple Watch's Fitness app is also coming to iOS and the iPhone, using motion-sensing tech to track metrics and performance (as long as an athlete is wearing or carrying the device on their person).
iOS 16 includes accessibility updates like Door Detection.
watchOS9
Many of Apple's software updates are designed to take advantage of the larger screens in recent models, but they also improve health and fitness tracking.
The most obvious reason to upgrade watchOS every year is to get new watch faces from Apple. WatchOS 9 will add four new faces.
Runners' workout metrics improve.
Apple quickly realized that fitness tracking would be the Apple Watch's main feature, even though it's been the killer app for wearables since their debut. For watchOS 9, the Apple Watch will use its accelerometer and gyroscope to track a runner's form, stride length, and ground contact time. It also introduces the ability to specify heart rate zones, distance, and time intervals, with vibrating haptic feedback and voice alerts.
The Apple Watch's Fitness app is coming to iOS and the iPhone, using the smartphone's motion-sensing tech to track metrics and performance (as long as an athlete is wearing or carrying the device on their person).
We'll get sleep tracking, medication reminders, and drug interaction alerts. Your watch can create calendar events. A new Week view shows what meetings or responsibilities stand between you and the weekend.
iPadOS16
WWDC 2022 introduced iPad updates. iPadOS 16 is similar to iOS for the iPhone, but has features for larger screens and tablet accessories. The software update gives it many iPhone-like features.
iPadOS 16's Home app, like iOS 16, will have a new design language. iPad users who want to blame it on the rain finally have a Weather app. iPadOS 16 will have iCloud's Shared Photo Library, Live Text and Visual Look Up upgrades, and FaceTime Handoff, so you can switch between devices during a call.
Apple highlighted iPadOS 16's multitasking at WWDC 2022. iPad's Stage Manager sounds like a community theater app. It's a powerful multitasking tool for tablets and brings them closer to emulating laptops. Apple's iPadOS 16 supports multi-user collaboration. You can share content from Files, Keynote, Numbers, Pages, Notes, Reminders, Safari, and other third-party apps in Apple Messages.
M2-chip
WWDC 2022 revealed Apple's M2 chip. Apple has started the next generation of Apple Silicon for the Mac with M2. Apple says this device improves M1's performance.
M2's second-generation 5nm chip has 25% more transistors than M1's. 100GB/s memory bandwidth (50 per cent more than M1). M2 has 24GB of unified memory, up from 16GB but less than some ultraportable PCs' 32GB. The M2 chip has 10% better multi-core CPU performance than the M2, and it's nearly twice as fast as the latest 10-core PC laptop chip at the same power level (CPU performance is 18 per cent greater than M1).
New MacBooks
Apple introduced the M2-powered MacBook Air. Apple's entry-level laptop has a larger display, a new processor, new colors, and a notch.
M2 also powers the 13-inch MacBook Pro. The 13-inch MacBook Pro has 24GB of unified memory and 50% more memory bandwidth. New MacBook Pro batteries last 20 hours. As I type on the 2021 MacBook Pro, I can only imagine how much power the M2 will add.
macOS 13.0 (or, macOS Ventura)
macOS Ventura will take full advantage of M2 with new features like Stage Manager and Continuity Camera and Handoff for FaceTime. Safari, Mail, Messages, Spotlight, and more get updates in macOS Ventura.
Apple hasn't run out of California landmarks to name its OS after yet. macOS 13 will be called Ventura when it's released in a few months, but it's more than a name change and new wallpapers.
Stage Manager organizes windows
Stage Manager is a new macOS tool that organizes open windows and applications so they're still visible while focusing on a specific task. The main app sits in the middle of the desktop, while other apps and documents are organized and piled up to the side.
Improved Searching
Spotlight is one of macOS's least appreciated features, but with Ventura, it's becoming even more useful. Live Text lets you extract text from Spotlight results without leaving the window, including images from the photo library and the web.
Mail lets you schedule or unsend emails.
We've all sent an email we regret, whether it contained regrettable words or was sent at the wrong time. In macOS Ventura, Mail users can cancel or reschedule a message after sending it. Mail will now intelligently determine if a person was forgotten from a CC list or if a promised attachment wasn't included. Procrastinators can set a reminder to read a message later.
Safari adds tab sharing and password passkeys
Apple is updating Safari to make it more user-friendly... mostly. Users can share a group of tabs with friends or family, a useful feature when researching a topic with too many tabs. Passkeys will replace passwords in Safari's next version. Instead of entering random gibberish when creating a new account, macOS users can use TouchID to create an on-device passkey. Using an iPhone's camera and a QR system, Passkey syncs and works across all Apple devices and Windows computers.
Continuity adds Facetime device switching and iPhone webcam.
With macOS Ventura, iPhone users can transfer a FaceTime call from their phone to their desktop or laptop using Handoff, or vice versa if they started a call at their desk and need to continue it elsewhere. Apple finally admits its laptop and monitor webcams aren't the best. Continuity makes the iPhone a webcam. Apple demonstrated a feature where the wide-angle lens could provide a live stream of the desk below, while the standard zoom lens could focus on the speaker's face. New iPhone laptop mounts are coming.
System Preferences
System Preferences is Now System Settings and Looks Like iOS
Ventura's System Preferences has been renamed System Settings and is much more similar in appearance to iOS and iPadOS. As the iPhone and iPad are gateway devices into Apple's hardware ecosystem, new Mac users should find it easier to adjust.
This post is a summary. Read full article here
Patryk Nawrocki
3 years ago
7 things a new UX/UI designer should know
If I could tell my younger self a few rules, they would boost my career.
1. Treat design like medicine; don't get attached.
If it doesn't help, you won't be angry, but you'll try to improve it. Designers blame others if they don't like the design, but the rule is the same: we solve users' problems. You're not your design, and neither are they. Be humble with your work because your assumptions will often be wrong and users will behave differently.
2. Consider your design flawed.
Disagree with yourself, then defend your ideas. Most designers forget to dig deeper into a pattern, screen, button, or copywriting. If someone asked, "Have you considered alternatives? How does this design stack up? Here's a functional UX checklist to help you make design decisions.
3. Codeable solutions.
If your design requires more developer time, consider whether it's worth spending more money to code something with a small UX impact. Overthinking problems and designing abstract patterns is easy. Sometimes you see something on dribbble or bechance and try to recreate it, but it's not worth it. Here's my article on it.
4. Communication changes careers
Designers often talk with users, clients, companies, developers, and other designers. How you talk and present yourself can land you a job. Like driving or swimming, practice it. Success requires being outgoing and friendly. If I hadn't said "hello" to a few people, I wouldn't be where I am now.
5. Ignorance of the law is not an excuse.
Copyright, taxation How often have you used an icon without checking its license? If you use someone else's work in your project, the owner can cause you a lot of problems — paying a lot of money isn't worth it. Spend a few hours reading about copyrights, client agreements, and taxes.
6. Always test your design
If nobody has seen or used my design, it's not finished. Ask friends about prototypes. Testing reveals how wrong your assumptions were. Steve Krug, one of the authorities on this topic will tell you more about how to do testing.
7. Run workshops
A UX designer's job involves talking to people and figuring out what they need, which is difficult because they usually don't know. Organizing teamwork sessions is a powerful skill, but you must also be a good listener. Your job is to help a quiet, introverted developer express his solution and control the group. AJ Smart has more on workshops here.
Jenn Leach
3 years ago
I created a faceless TikTok account. Six months later.
Follower count, earnings, and more
I created my 7th TikTok account six months ago. TikTok's great. I've developed accounts for Amazon products, content creators/brand deals education, website flipping, and more.
Introverted or shy people use faceless TikTok accounts.
Maybe they don't want millions of people to see their face online, or they want to remain anonymous so relatives and friends can't locate them.
Going faceless on TikTok can help you grow a following, communicate your message, and make money online.
Here are 6 steps I took to turn my Tik Tok account into a $60,000/year side gig.
From nothing to $60K in 6 months
It's clickbait, but it’s true. Here’s what I did to get here.
Quick context:
I've used social media before. I've spent years as a social creator and brand.
I've built Instagram, TikTok, and YouTube accounts to nearly 100K.
How I did it
First, select a niche.
If you can focus on one genre on TikTok, you'll have a better chance of success, however lifestyle creators do well too.
Niching down is easier, in my opinion.
Examples:
Travel
Food
Kids
Earning cash
Finance
You can narrow these niches if you like.
During the pandemic, a travel blogger focused on Texas-only tourism and gained 1 million subscribers.
Couponing might be a finance specialization.
One of my finance TikTok accounts gives credit tips and grants and has 23K followers.
Tons of ways you can get more specific.
Consider how you'll monetize your TikTok account. I saw many enormous TikTok accounts that lose money.
Why?
They can't monetize their niche. Not impossible to commercialize, but tough enough to inhibit action.
First, determine your goal.
In this first step, consider what your end goal is.
Are you trying to promote your digital products or social media management services?
You want brand deals or e-commerce sales.
This will affect your TikTok specialty.
This is the first step to a TikTok side gig.
Step 2: Pick a content style
Next, you want to decide on your content style.
Do you do voiceover and screenshots?
You'll demonstrate a product?
Will you faceless vlog?
Step 3: Look at the competition
Find anonymous accounts and analyze what content works, where they thrive, what their audience wants, etc.
This can help you make better content.
Like the skyscraper method for TikTok.
Step 4: Create a content strategy.
Your content plan is where you sit down and decide:
How many videos will you produce each day or each week?
Which links will you highlight in your biography?
What amount of time can you commit to this project?
You may schedule when to post videos on a calendar. Make videos.
5. Create videos.
No video gear needed.
Using a phone is OK, and I think it's preferable than posting drafts from a computer or phone.
TikTok prefers genuine material.
Use their app, tools, filters, and music to make videos.
And imperfection is preferable. Tik okers like to see videos made in a bedroom, not a film studio.
Make sense?
When making videos, remember this.
I personally use my phone and tablet.
Step 6: Monetize
Lastly, it’s time to monetize How will you make money? You decided this in step 1.
Time to act!
For brand agreements
Include your email in the bio.
Share several sites and use a beacons link in your bio.
Make cold calls to your favorite companies to get them to join you in a TikTok campaign.
For e-commerce
Include a link to your store's or a product's page in your bio.
For client work
Include your email in the bio.
Use a beacons link to showcase your personal website, portfolio, and other resources.
For affiliate marketing
Include affiliate product links in your bio.
Join the Amazon Influencer program and provide a link to your storefront in your bio.
$60,000 per year from Tik Tok?
Yes, and some creators make much more.
Tori Dunlap (herfirst100K) makes $100,000/month on TikTok.
My TikTok adventure took 6 months, but by month 2 I was making $1,000/month (or $12K/year).
By year's end, I want this account to earn $100K/year.
Imagine if my 7 TikTok accounts made $100K/year.
7 Tik Tok accounts X $100K/yr = $700,000/year