Buying Biotech – 10x Genomics

I own $TXG as of June 15th, 2020. This is part of a new series I’m starting studying publicly traded biotech companies. The below is my take and analysis, but all investing decisions are your own. Their latest annual report and investor presentation are downloadable here.

10x Genomics is a provider of hardware and software tools for “academia, governments, other biopharma and biotech companies.” TXG’s products help these institutions research scientific solutions for a wide range of fields, including cancer, neuroscience, drug development, and beyond.

The 10x products have resulted in scientific acclaim (having helped their customers get 700-plus papers published in major science journals by using 10x tools) and patent defensibility (over 200 currently owned or exclusively licensed with another 480 pending).

Before explaining their solutions, the challenges these customers faced before 10x Genomics include (from page 5 of the TXG annual report):

  • Average, or bulk, measurements obscure underlying differences between different biological units, such as individual cells
  • Low throughput prevents requisite sampling of the underlying complexity–for example, when only a few hundred cells can be evaluated at a time.
  • Limited number of biological analytes are interrogated, giving a myopic view of only a few biological processes….
  • Inefficient use of sample to generate a signal of sufficient strength to analyze the biological molecules of interest
  • Inadequate bioinformatics and software tools

In plainer English, even with modern advances, scientists still run into limitations in their ability to analyze, faster and in larger volumes, the smallest “biological units” like cells and their molecules.

How does 10x solve this problem?

Continue reading “Buying Biotech – 10x Genomics”

Buying Benefytt Technologies (HealthInsurance.com)

 
Disclosure: I am an owner of BFYT as of March 23, 2020.

What is Benefytt Technologies?

Benefytt Technologies, Inc. (BFYT), formerly known as Health Insurance Innovations, is (in the company’s own words): “a technology driver distributor of Medicare, health and life insurance products.”

In other words, it is primarily a lead generation service for other health insurance companies. For those unfamiliar, “lead generation” is jargon for “gets a fee for finding customers for the companies actually providing the insurance, without taking the insurance policy risk itself.”

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Short-Selling During the Coronavirus

“In 2008, it was the entire financial system that was at risk. We were still short. But you don’t want the system to crash. It’s sort of like the flood’s about to happen and you’re Noah. You’re on the ark. Yeah, you’re okay. But you are not happy looking out at the flood. That’s not a happy moment for Noah.” – Steve Eisman in Michael Lewis’s The Big Short

There’s a third type of investor during these times: the short-sellers.

I didn’t intend to become someone who makes money from suffering from others. It’s a mindset some people have, gained often through negative life experiences, a desire for truth, or just genetic skepticism. For me, it’s the first two.

That said, I’ve been having my most profitable month in the stock market at a time when many people have been panicking.

This is because, in January, I took short positions on four companies:

Continue reading “Short-Selling During the Coronavirus”

Books Read in the Second Half of 2019

As a reference, my grading scale is (without any one or two star books this time):

Two Stars: Not recommended, except for those very interested in the subject.

Three Stars: Recommended, may cover too niche a topic to get a stronger recommendation for a broad audience, is only high-level coverage of its theme, or just moderately interesting fiction.

Four Stars: Recommended, well-written, and covers material I think most people would find useful or interesting.

Five Stars: Strongly recommended to everyone.

Additionally, I pick one book every six months as the “best book I’ve read” during that time period.

Themes from these six months:

  • “Gig Economy” and Temporary Work: Since I’ve started working at Y Combinator alum Bluecrew moving industrial temp staffing to a tech platform, I’ve dived into the industry’s literature.
  • Accounting: Brushing up my knowledge on the field in which I’ve occasionally worked.
  • The Legal System: Between the current state of our politics and an increase in my own experiences with lawyers over the past year, both personally and professionally, I’ve got multiple books which cover how our legal system works.
  • Japanese Culture: Three books spent time covering Japan, two for a couple chapters and one entirely.
  • Books from Mad Men: The show is my favorite drama and features multiple books from the shows time period. I’ve now read a couple of them.

Continue reading “Books Read in the Second Half of 2019”

Paul Graham Essays Categorized by Theme

Since I live in a different town from my family, the holidays are the majority of the time I get to spend with my twelve year-old brother (we have a 17 year age gap).

Now that he’s nearly a teenager, he’s almost the age I was when I started thinking independently from family and friends. For me, a big part of that was discovering Paul Graham’s essays. Hopefully one day my brother reads through them (but I won’t force him).

This got me thinking: if I were to recommend them to him, would I want him to read them chronologically? Or should I point him to specific essays based on his interests?

Alternatively, if one were to compile all of Paul’s essays into a collection or a Hackers and Painters sequel, how would it be organized?

So below is my attempt at tagging Paul Graham’s essays by subject matter.

Continue reading “Paul Graham Essays Categorized by Theme”

Books Read in the First Half of 2019

As a reference, my grading scale is (without any one or two star books this time):

Three Stars: Recommended, may cover too niche a topic to get a stronger recommendation for a broad audience, is only high-level coverage of its theme, or just moderately interesting fiction.

Four Stars: Recommended, well-written, and covers material I think most people would find useful or interesting.

Five Stars: Strongly recommended to everyone.

Additionally, I pick one book every six months as the “best book I’ve read” during that time period.

Themes from these six months:

  • Chuck Klosterman: I’ve completed the Chuck Klosterman collection, including his two novels.
  • Alan Lightman: A physicist-novelist recommended by my good friend Ritoban Thakur has a unique voice which bridges spirituality with science.
  • Technology Company Growth and Management
  • Stripe Press: A new publishing company with the goal of advancing economic and technological ideas also puts great care into their uniquely designed and high quality physical book covers.

Continue reading “Books Read in the First Half of 2019”

Books Read in the Second Half of 2018

As a reference, my grading scale is (without any one or two star books this time):

Three Stars: Recommended, may cover too niche a topic to get a stronger recommendation for a broad audience, is only high-level coverage of its theme, or just moderately interesting fiction.

Four Stars: Recommended, well-written, and covers material I think most people would find useful or interesting.

Five Stars: Strongly recommended to everyone.

Additionally, I pick one book every six months as the “best book I’ve read” during that time period.

I’ve also started marking themes of my reading for the time period. In these six months, some commonalities:

  • The Oil Industry: Three books on the history of the Oil industry, spanning from the early 1900s at Spindleto to the future of fracking.
  • Chuck Klosterman: In this period of time I read two books by Chuck Klosterman, who is now my second-most read author since 2012 (only behind Michael Lewis who also shows up in this post). And not just any two books, but compilations of his articles for other outlets. The two compilations were published a decade apart, giving insight into how Klosterman’s own focus has changed in the 2000s.
  • Physicist Carlo Rovelli: I randomly discovered this physicist in 2016 when I found his “Seven Brief Lessons on Physics” in a New Orleans bookstore and spent this time period reading two more of his fantastic works.
  • Neuroscience and Psychopathy: Following up from my genetics research the prior six months, I’ve worked my way up from the foundations of biology to neuroscience and understanding the disorders that create so much pain in society.
  • Jon Ronson: I followed up his first book on psychopathy with two more, including an exclusive audiobook he did for Audible.
  • Audiobooks: In a futile attempt to save bookshelf space, I coughed up for a paid Audible account. I was already an avid podcast listener and this isn’t much different.

Three Stars (Recommended)

The Last Days of August by Jon Ronson (Audiobook):

From the author of So You’ve Been Publicly Shamed comes this deep dive into the porn industry and the death of actress Mercedes “August Ames” Grabowski. What was a seven-episode podcast has been compiled into an audiobook. Ronson and his colleagues go to great lengths to get to the bottom of the question “Why was August hung from a tree in a public park?”

It’s an unexpected detective story which tackles every angle: Was it due to Twitter bullying from jealous actresses? Was she killed by her potentially abusive husband? Was it due to a broken childhood and being abandoned by her parents?

Regardless of what you think the answer is, it’s a grim story where everyone is an unreliable source. Despite the darkness, it’s well-told and is (of what I’ve heard and read thus far) Ronson’s best journalistic work.

I’ll Be There for You – The One About Friends by Kelsey Miller (Audiobook):

Friends has played an important part in my life. It was always on during dinner when I was a kid, my college friends had the DVDs playing in the background after classes in their apartment, and it’s 2010 Netflix debut put all that nostalgia back at our fingertips.

Kelsey Miller’s history and analysis of the show does a solid job chronologically retelling the show’s creation, starting with the friendship of creators David Crane and Marta Kauffman and running through biographies of the six ensemble members. From there, she traces the show’s growth season-by-season, pausing to cover the host of controversies along the way: backlash following Season Two’s over-exposure and media blitz, the progressively higher-stakes contract negotiations pitting the six friends against the network, September 11’s impact of extending the show’s run by serving as the country’s leading comedy after its period of grief, and its eventual conclusion, passing the baton to reality TV and HBO dramas as the top television shows.

Although there are some parts of Friends history that isn’t covered much (such as Matthew Perry’s widely-known substance problems), Miller provides a fair retrospective on the parts of Friends that modern woke bloggers tend to knock the show for: the homophobia, lack of ethnic diversity, and the sexual harassment lawsuit from a female writer regarding her time in the mostly-male writers room. All these subjects are used by Miller not to tear down the show, but to show Friends as a reflection of its time, yet its themes and warmth are timeless.

The Sociopath Next Door – The Ruthless Versus the Rest of Us by Martha Stout, Ph.D.:

Unique from other books on psychopathy, Dr. Stout, formerly of the Harvard Medical School prior to going into private practice, brings a psychologists perspective to the subject. The book contains a compilation of anonymized stories from her clients who are mostly victims of psychopaths. The most memorable example for me was a woman whose father was a well-respected high school principal until he shot a drug dealer on their front lawn and it was revealed that her father, now in prison, had been hardcore drug-dealing in his evenings.

The analysis doesn’t seem as scientific as Professor Hare or Professor Kent Kiehl’s work, and the last chapter leaves the book on an oddly spiritual note. However, if your life has been impacted by psychopaths, it will feel good to know others have lived through the same experiences.

Without Conscience – The Disturbing World of the Psychopaths Among Us by Robert D. Hare, Phd.:

Professor Hare was the worldwide leader in psychopath research. Hare got his start studying prison inmates in Canada as the sole psychologist at the British Columbia Penitentiary. His work there landed him a role as a Professor of Psychology at the University of British Columna.

Without Conscience is his guidebook to the subject, covering the range of violent serial killers to white-collar-criminal psychopaths he’s interviewed with his methods that became the industry standard (prior to wider proliferation of MRI machines).

Written in 1993, it’s more psychology than neuroscience since the latter field was still nascent compared to Hare’s experience speaking to psychopaths in prisons. The subtitle is accurate in labeling much of the content “disturbing”, but a must-read for anyone interested in the subject matter.

Blitzscaling – The Lightning-Fast Path to Building Massively Valuable Businesses by Reid Hoffman and Chris Yeh:

As defined by the authors, Blitzscaling is “a strategy and set of techniques for driving and managing extremely rapid growth that prioritize speed over efficiency in an environment of uncertainty.”

For the laymen, this book is about the shared strategies Facebook, Uber, LinkedIn, and other big tech company brands used to take over the world in the past decade. One of the major themes being that these companies prioritize speed and experimentation over worrying about costs, with the idea that customer growth and the future monopoly position overcompensate for the losses along the way.

The danger of a book like this is that, misinterpreted by the wrong founders and an issue I’ve seen first-hand at startups, it could encourage a lack of financial discipline, and its strategies only work for business or products that can inherently affect a lot of people; otherwise you’ll be burning money. But for anyone who wants to understand more about how big tech companies got to where they are, or aspire to build on themselves, Blitzscaling is a framework worth thinking about.

The Psychopath Test – A Journey Through the Madness Industry by Jon Ronson:

The first book I’ve read by Ronson, it’s more storytelling than journalism (compared to The Last Days of August), but it’s an addicting set of stories. Ronson explores a variety of psychopath stories, such as a man who talked himself into a mental institution as a way to avoid prison, cult leaders, and obviously murderers.

My favorite chapter covers “Chainsaw” Al Dunlap, a man ranked by Time magazine as one of the top 10 worst bosses of all time, fired by companies for committing fraud, and was once accused in court by his ex-wife for holding her at knife point and asking what human flesh tastes like.

In between these stories, Ronson traces the history of psychopaths in the psychiatric literature, starting with early-1800s French psychiatrist Philippe Pinel identifying patients as “manie sans delire” (insane without delusion) and through the debates in the academic community about how to identify and classify these slippery assholes.

If you’re interested in psychopathy, there are more medically informative reads. If you want a captivating story about subversive evil in humanity, this is a fun one.

Snakes in Suits – When Psychopaths Go to Work by Robert D. Hare, Phd.:

Dr. Hare, after he had finished writing his first book Without Conscience, was quoted as saying, “I should never have done all my research in prisons. I should have spent my time inside the stock exchange as well…. Serial killers ruin families. Corporate and political and religious psychopaths ruin economies. They ruin societies.”

He spent the later part of his career working on studying functioning psychopaths, many of whom either commit while-collar crime or similar destroy business value but undermining their employers and pocketing company money for themselves instead of investing into growing the business.

The format for Snakes in Suits alternates between fiction and non-fiction: one chapter will cover specific behaviors or symptoms of psychopaths, followed by a story about how that might manifest itself in the workplace.

Hare concludes with a chapter on how colleagues can identify and manage working around people who seem to be destructive toward their business and others. Having worked with some in the past, I think more people would benefit from reading this guide, as they’ll instantly recognize someone from their life in these pages.

Four Stars (Highly recommended for those interested in topic, or generally recommended for anyone)

So You’ve Been Publicly Shamed by Jon Ronson:

I decided to read this after completing his earlier work The Psychopath Test in one weekend. Shamed is slightly longer, but didn’t take much more time for me to finish. Ronson’s unique take on public shaming is inspired by and inextricably tied to the rise of social media technology, particularly Twitter, which empower mob mentality at historically unprecedented scale. Much of the book is centered around Ronson tracking down victims of this new form of kangaroo courting in an effort to understand the history of public shaming, how it happens in modern context, and its fallout.

His sense of morality seems to drive him to empathize with the victims, who he (and I agree) have been the collateral damage of the new weaponized techno-social justice warriors. This book is a great siren call that, if we as a society don’t learn to apply the golden rule to the Internet, then the great tools used for giving voices to the marginalized will be turned into the fear-driven banality of universal silence.

Chuck Klosterman IV – A Decade of Curious People and Dangerous Ideas by Chuck Klosterman:

Published in 2006, this collection covers two types of articles Klosterman had previously written for outlets, especially Esquire. The first third of the book is Chuck’s interviews with a variety of celebrities, to whom he brings unique understanding: Britney Spears (at the time of writing in 2003, easily the most famous person he interviewed who dodges the subtext of his questions like a politician), actor Val Kilmer (giving readers a better understanding of why he got semi-exiled from Hollywood for being unintentionally loony), and basketball star Steve Nash (who comes across as incredibly likeable).

The second section is a collection of non-interview articles, some still journalistic and some pure opinion pieces. Most notable among these is “The Importance of Being Hated” about how all of us have an archenemy, a nemesis, and the important differences between the two. Also, Chuck Klosterman ate only Chicken McNuggets for a week well before Morgan Spurlock’s Super Size Me.

The books ends with a short story which was Klosterman’s first published work of fiction. The story is about a guy named Jack who would have a boring job as a newswriter if he didn’t start his mornings with phencyclidine, better known on the street as PCP or Angel Dust. It’s completely disconnected from the rest of the book, but has some great comedic observations that at least geeky men, if not everyone, will relate to.

Chuck Klosterman X – A Highly Specific, Defiantly Incomplete History of the Early 21st Century (and its Audio Companion) by Chuck Klosterman:

Published in 2017, Klosterman’s most recent essay collection captures the changing American culture. The book is mostly features of specific people he’s written previously for outlets such as GQ and ESPN: Taylor Swift (whom he considered the most famous person he’s ever interviewed), Tom Brady (the seemingly least cooperative interview), Kobe Bryant (the most direct). There’s some general culture writing mixed in, including an insightful discussion on the “nostalgia problem” and the definitive analysis of the band KISS for their Rock and Roll Hall of Fame induction.

X ends with celebrity obituaries written by Klosterman. My personal favorite is of Warrant’s Jani Lane. Klosterman ended his first book, Fargo Rock City, with a story about Jani Lane, the lead singer of Warrant, best known for their titillating music video Cherry Pie. Here was a man who was mocked for allegedly contributing to the downfall of his artistic genre due to reasons outside his control, and would spend the next couple decades trying to pursue his artistic aspirations before killing himself in a Comfort Inn motel. Klosterman is able to take this one man’s true tragic tale and extrapolate lessons for us all; we are much less in control of our stories and legacies than we’d like.

It Doesn’t Have to Be Crazy at Work by Jason Fried and David Heinemeier Hansson:

The newest book from the creators of Basecamp and Ruby on Rails is a collection of short lessons learned from their experience running a successful, founder-owned, investor-less software business for over a decade. There’s a lot more I agree with here than disagree with, such as the arbitrary-ness of most goal-setting exercises and the compounding problems of productivity-death-by-meetings (very reminiscent of Paul Graham’s “Makers Schedule, Manager’s Schedule” essay). While I could write a whole separate essay on unifying the Basecamp school of thought with other startup and business canon, I’ll emphasize one here: If you know what’s important to do and efficiently focus on that, then work does not have to be hell.

The Big Rich – The Rise and Fall of the Greatest Texas Oil Fortunes by Bryan Burrough:

In my youth, I didn’t realize that I was familiar with one of the people from The Big Rich; I just knew Lamar Hunt as the founder and owner of the Columbus Crew, probably the sports franchise whose games I’ve been to the most in my life.

Lamar got his money as a descendant of H.L. Hunt, one of four family patriarchs described in the mid-20th century press as “The Big Rich” of Texas, chronicled here by Bryan Burrough (who also co-authored one of my top five favorite business books and probably his most famous, Barbarians at the Gate).

Burrough tells the century-long story of the Texas oil business, starting with legendary Spindletop oil boom in 1901 and ending with the election of President George Bush, himself an heir from an oil empire, in 2001. In between, the story focuses on four families which became, at differing points in the century, the richest Americans in the world in an era that even pre-dated men like Warren Buffett. Men such as H.L. Hunt, Sid Richardson, and Roy Cullen are names lost to modern culture but were the moguls that bridge the timeline between the Rockefeller/Carnegie era and the electronics industry of the 70s.

Despite most not knowing their names, Americans have a stereotypical identity of Texas and Texans: cowboy boots with spurs, big hats, and flaunted wealth. Shows in the 80s such as Dynasty were inspired by The Big Rich families. The modern American political conservative movement, too, is told here, with the roots of Bush-era politics inspired and funded by these oil tycoons distrusting a US government who their parent’s generation hadn’t even been members of during Texas’s independent days.

Most Americans of my generation probably fail to realize how much of their lives descend from these men: Half of the NFL teams and Major League Soccer were initiated by the Hunt family and one descendant named Sid Bass became the savior and largest shareholder of the Disney Corporation until 2001. Love them or hate them, thanks to Burrough, the iconic Texas oil men of the mid-1900s will never be forgotten.

The Frackers – The Outrageous Inside Story of The New Billionaire Wildcatters by Gregory Zuckerman:

Zuckerman has written the canonical account of one of the great business and technology stories of our lifetimes.

The Frackers tells a classic American entrepreneurship tale: a group of unknown outsiders, many the children of poor immigrants and only armed with gusto, create a new technology that truly disrupts an industry. This generates newfound wealth for themselves and shakes the foundations of the rest of society and geopolitics, as countries and old industrialists question assumptions about the world’s available energy (a very fundamental thing to be questioning).

The two main technologies are “fracking” (shooting water and chemicals into rocks so they crack open like eggs and spill out oil and gas) and horizontal drilling (pretty self-explanatory but historically difficult to do thousands of feet below ground). Those bold enough to spend the major time and money upfront to test these techniques in America were richly rewarded. But once proven right on the availability of untapped energy in our backyards, these wildcatters conflict with Wall Street, ExxonMobil, and environmentalists, sometimes all at once. The environmental impacts of fracking are treated reasonably and evenly debated. Zuckerman has done a tremendous job documenting a historic period in American business and ultimately worldwide geopolitics around how humanity gets its energy.

The Fifth Risk by Michael Lewis:

What happens when a new administration takes over the government, and then doesn’t put anyone in charge of running anything? This is the question Michael Lewis tries to answer in The Fifth Risk, which dives deeply into a very specific period of time. In the first couple months after Donald Trump was sworn in as President, he reportedly had nearly no one show up to actually run the departments of the Executive branch.

Lewis searches through the government underbelly where the sausage is made and asks the current and former government officials: What do all the agencies do? How are they managed? Most importantly, what happens if society forgets how they’re managed?

The title itself is an allusion to “project management”, or a complete lack thereof, being one of the major risks to political stability. The importance of consistent, capable management is the major takeaway from this story and applies to well outside the White House.

Reality is Not What it Seems – The Journey to Quantum Gravity by Carlo Rovelli:

Rovelli provides a foundational, understandable history of physics, from ancient Greece to the modern dilemma reconciling quantum mechanics and gravity. The last third of the book focuses on the sub-title, which is Rovelli’s specialty and a competitor to the more mainstream String Theory. Despite the latter chapters being a bit more technical and obtuse for the laymen, the first two thirds are such a well-written walkthrough of physics that I recommend it as an introduction to the field.

Five Stars (Highly Recommend to Everyone)

Saudi America – The Truth About Fracking and How It’s Changing the World by Bethany McLean:

Bethany McLean, most famous for breaking the Enron story almost two decades ago, is my favorite journalist-author. She continues to deliver with her latest short-form Columbia Global Reports book. True to form, she investigates a simple but globally important question: Is “fracking” really going to bolster American energy independence and upend the international oil and gas markets?

The answer is a complex one. She slowly unpacks the issue, starting small with a concise biography of fracking pioneer Chesapeake Energy and its founder Aubrey McClendon. Companies such as Chesapeake have raised a lot of investor interest, but have they actually made any profits? An influx of new oil and gas from fracking may just mean a lot of new supply driving down energy prices; good for consumers but unprofitable and unsustainable for investors.

This segues into geopolitics: If America continues to flood the market with cheap energy and drop prices, what impact will this have on our biggest allies and enemies? Saudi Arabia’s dictatorship is sustained by its oil money. Russia will have even more reason to be militarily aggressive if it loses its control of Europe’s energy supplies. And if the USA can generate its own energy without Middle Eastern oil, does that provide hope for ending our endless warring in the region?

Lastly, the future of the energy industry could/should be renewables like solar and wind. With all the focus the past couple decades on fracking, have the short-term benefits come at the long-term cost of falling behind in the marathon to truly ubiquitous, free energy?

The Psychopath Whisperer – The Science of Those Without Conscience by Kent Kiehl, Phd.:

The culmination of my deep-dive into psychopathy, this is the best book on the subject. Doctor Kiehl, whose thesis advisor was the aforementioned Doctor Robert Hare, is arguably the world’s leading expert on psychopathy. This book presents both the history of his professional research as well his personal experiences, which include non-strictly-academic endeavors such as innovating in mobile MRI hardware, the politics of navigating an academic career, and being inspired to devote his life to this subject after growing up down the street from renowned serial killer Ted Bundy.

What sets Professor Kiehl’s research on psychopaths apart from predecessors is his dedicated inquiry into neuroscience and biological-based causes for mental disorders. As someone without a neuroscience background, this book demonstrates how the functioning of the brain dictates human behavior far more than the vast majority of people comprehend. The Psychopath Whisperer is captivating, informative, and a must read for anyone who wants to understand the darkest, animalistic side of humanity.

Snow Crash by Neal Stephenson:

Ranked by Time Magazine as one of the all time top 100 English novels, this science fiction classic was inspiration for my greatest influence (programmer John Carmack) and many of his contemporaries in the videogame industry.

Snow Crash is an eccentric sci-fi action story starring the mafia’s futuristic pizza delivery boy whose computer hacking hobby entangles him in an underground criminal plot for world domination via mind control. The unfolding of the evil villain plans is an intelligent integration of religious and technological ideas, some such as the “avatar” have become so entrenched in culture that most people forget it originated here. Snow Crash is campy, fast-paced, and all-around the most fun I’ve ever had reading fiction.

The Order of Time by Carlo Rovelli:

This is the best book on physics I’ve read. I could also say it’s one of the best philosophy books, the two fields being so close together when it comes to thinking about time. Here, Rovelli explains, in simultaneously simple and complete as possible terms, what humanity currently understands about time. While many of us have had some exposure to ideas like time-travel through pop culture, once the limits of knowledge on time and entropy are explained, it’s hard to think about anything else. Rovelli’s writing is so eloquent, I completed it in a couple sittings. The time flew by.

The Best Book I Read in the Second Half of 2018

The Disordered Mind: What Unusual Brains Tell Us About Ourselves by Dr. Eric Kandel:

This is the epitome of the type of book I love. It’s concise, written by a regarded expert in the field, tackles profound issues, and has pictures. Just published in 2018 by Dr. Eric Kandel, who won the 2000 Nobel Prize in Medicine for his work on how memories are stored in our brain’s neurons, The Disordered Mind is a fantastic introductory guide to all the major mental disorders, with chapters on: Depression, Bipolar, Schizophrenia, Dementia, Parkinson’s, Huntington’s, Post-Traumatic Stress, and Addiction. And it concludes with two chapters on the neuroscience of two important, universal human conditions: gender identity and consciousness.

While covering the foundation of how humans work, Kandle integrates the latest research from related fields into as cohesive a narrative as possible: psychology, biology, chemistry, neuroscience, and genomics. I can’t emphasize enough how important the topics covered here are, and how effectively and succinctly Kandel covers wide ground. This is the book I would highly recommend for non-scientists breaking into the study of the brain.

The Legacy of Jack Lambert

Everyone has had some hero, or at minimum an influencer, in their life at some point. For a lot of entrepreneurs and technologists of my generation, that inspiration has been Paul Graham. The follow-up question I ask, like reading source papers referenced in an author’s bibliography, is: who was my inspiration’s inspiration?

Graham documented his heroes in an essay in 2008. This was right around the time I first started getting interested in the NFL, primarily due to a ten hour video series NFL Films created documenting the Top 100 Football Players of All Time.

It’s interesting to me that, like many men, one of Graham’s earliest heroes was an athlete.

Jack Lambert, ranked 29th on the NFL Films list of the greatest players in football history, was the middle linebacker behind the 1970s “Steel Curtain” defensive line that won four Super Bowls in six years.

The impact that those 70s Steelers had on America is slowly receding from culture, which tends to happen over time. However, the spirit of players like Lambert influenced Paul Graham who in turn influenced the modern world in ways that are hard to overstate.

Graham wrote of Lambert:

“I grew up in Pittsburgh in the 1970s. Unless you were there it’s hard to imagine how that town felt about the Steelers. Locally, all the news was bad. The steel industry was dying. But the Steelers were the best team in football—and moreover, in a way that seemed to reflect the personality of the city. They didn’t do anything fancy. They just got the job done.

Other players were more famous: Terry Bradshaw, Franco Harris, Lynn Swann. But they played offense, and you always get more attention for that. It seemed to me as a twelve year old football expert that the best of them all was Jack Lambert. And what made him so good was that he was utterly relentless. He didn’t just care about playing well; he cared almost too much. He seemed to regard it as a personal insult when someone from the other team had possession of the ball on his side of the line of scrimmage.

The suburbs of Pittsburgh in the 1970s were a pretty dull place. School was boring. All the adults around were bored with their jobs working for big companies. Everything that came to us through the mass media was (a) blandly uniform and (b) produced elsewhere. Jack Lambert was the exception. He was like nothing else I’d seen.”

Fast forward a decade later. Readers of my book reviews will notice I’ve been on a Chuck Klosterman kick, reading through his collected works. Klosterman also happened to be the narrator for Lambert’s entry into the NFL’s Top 100 of All Time list.

I paired Graham’s and Klosterman’s thoughts on Lambert together because I find it exciting and a bit amazing when two people I consider great in their separate fields both took inspiration from a seemingly unrelated third forebearer.

Below is Chuck Klosterman’s commemoration of Lambert for the NFL Network:

“Over time now there’s kind of become this understanding that small running backs have an advantage because a lot of times linebackers can’t see into the backfield. His height at middle linebacker may have been a positive in the reverse. He may have had a better view of what the offense was doing and that might explain why he seemed to be one step ahead of things. He just seemed to make every tackle.

If the best player in the middle of the field is making all of the plays on the best team, maybe this is the best defender in the league?

On a “Team of the Decade”, I don’t know even who is number two for the idea of being the middle linebacker on that roster.

He was an extremely intellectual linebacker, which I don’t think was the association with him at the time probably because he was toothless, and probably because he looked kind of like a madman. His greatest strength was his mind, so he’s like John Rambo I guess.

He was certainly the most intimidating player on a pretty intimidating team.

It’s possible that Jack Hamm was a greater outside linebacker than Jack Lambert was as a middle linebacker. But I don’t imagine opponents fearing Jack Hamm the way they would fear Lambert. Pretty much every play, the quarterback was staring directly at Lambert, who had not only this very scary appearance, but this incredibly active appearance.

Pittsburgh likes to sort of perceive itself as having a certain kind of toughness, having a certain kind of team. Lambert really represents that, and there’s never going to be a guy that replaces that in Pittsburgh. He will always be perceived as the greatest personification of what Steeler football is supposed to be like. That’s what Lambert represents: the Steelers at their highest point.”

Books Read in the First Half of 2018

As a reference, my grading scale is (without any one or two star books this time):

Three Stars: Recommended, may cover too niche a topic to get a stronger recommendation for a broad audience, is only high-level coverage of its theme, or just moderately interesting fiction.

Four Stars: Recommended, well-written, and covers material I think most people would find useful or interesting.

Five Stars: Strongly recommended to everyone.

Additionally, I pick one book every six months as the “best book I’ve read” during that time period.

Three Stars (Recommended)

Things You Should Already Know About Dating, You F**king Idiot by Ben Schwartz and Laura Moses

I picked up this comic book off the shelf at some bookstore for two reasons. First, if I’m still going to buy any physical books, they might as well be comic books. Second, it recommendation from Justin Timberlake on the cover which reads: “This book is so funny. Read it and you’ll 100% find love–if you’re into that kinda thing…happiness or whatever.” These authors must have great agents to get a JT quote. If the title didn’t tip you off, this isn’t high-class literature, but it’s not bad for a $5 comic book satirizing millennials.

If Ignorance is Bliss, Why Aren’t There More Happy People? Smart Quotes for Dumb Times by John Lloyd and John Mitchinson:

Like Oxymoronica reviewed in 2017, If Ignorance is Bliss is a book of quotes. They’re mostly comedic and organized alphabetically by theme, starting with “Acting” and ending with “Zen”. A few select favorites below:

“Every society honors its live conformists and its dead troublemakers.” – Mignon McLaughlin, a writer for Vogue and Glamour whose two Neurotic’s Notebooks became bestsellers in the 1960s

“They say hard work never hurt anybody, but I figure why take the chance.” – Ronald Reagan

“An idea isn’t responsible for the people who believe in it.” – Don Marquis

The Curriculum – Everything You Need to Know to Be a Master of Business Arts by Gil “Stanley Bing” Schwartz

“Stanley Bing” just recently announced his resignation as the Head of Communications for CBS. The Curriculum is his most recent work of satire, formatted as a faux “curriculum” mocking business schools by offering the truth-is-stranger-than-fiction kind of advice people really talk about at work. Your personal rating for this book will probably correlate with how you feel about drinking during weekday lunches and Dr. Strangelove.

Go Figure – Things You Didn’t Know You Didn’t Know by Tom Standage

Another pocket-sized airport book, Economist editor Tom Standage has compiled about 100 one-or-two page articles on random trivia, such as how modern tropical volcanoes are still creating new islands today and humanity’s opportunity cost from all the time spent watching Gangnam Style. Recommended if you want to learn ideas for Trivial Pursuit in the form of infographics.

Girl Logic – The Genius and the Absurdity by Iliza Schlesinger

Comedian Iliza Schlesinger has had a tremendous run the past couple years, starting with being the first woman to win the TV show Last Comic Standing, followed up with four stand-up comedy specials on Netflix and now her first book. This review is probably as much about her standup as it is about this book, but they’re pretty closely related. The content of Girl Logic is pretty similar to the topics covered in her shows Elder Millenial and Confirmed Kills, with more serious personal anecdotes and a bit less, but some, comedy.

If you’re unfamiliar with Iliza, I’d recommend any and all of her Netflix comedy specials and the below half an hour talk on her book:

Immortal Life – A Soon to be True Story by Gil “Stanley Bing” Schwartz

I’ve previously written about how great an influence Stanley Bing has been on my worldview. He recently wrote his third novel, Immortal Life, which tells the tale of a trillionaire tech executive using his wealth to discover a path to mental immortality. The novel has all has all the hallmarks of a Bing book, primarily his sophomoric (meant as a compliment) way of humanizing the rich and famous.

I did not enjoy it as much as his first two novels, which I think is because Immortal Life has more of a science-fiction bent than “You Look Nice Today” and “Lloyd: What Happened”, making it a little less relatable. I read “Lloyd: What Happened” in high school and it remains one of my favorite works of fiction, deserving of its own five-star review.

Who Reads Poetry – 50 Views from Poetry Magazine edited by Fred Sasaki and Don Share

To answer the title’s implied question, I don’t really read poetry (other than The Road Not Taken which I probably misinterpret). Who Reads Poetry is published by the University of Chicago Press and is therefore heavily influenced by the Chicago/midwestern community. It includes essays from authors of various walks of life and professions (writers, military, economists, et al.), including some celebrities (Christopher Hitchens, Roger Ebert, Roxane Gay).

Probably the most memorable segment for me was when Jeffrey Brown of PBS Newshour asked two cadets in military school about why poetry is taught to soldiers.

Cadet One: “Poetry is directly related to our function as a military officer because, at the bottom level, we’re all here training to take lives. And that’s a concept that you really can’t approach without art, without some sort of deeper understanding of the human condition, which is exactly what poetry is.”

Cadet Two: “That’s a clumsy way to say that. We’re not here to take lives and destroy things. Perhaps those are the tools of the army and the military, but really we’re here to learn how to be leaders. And…poetry has a direct influence on how I think about leadership and how people view leadership.”

Fire and Fury – Inside the Trump Whitehouse by Michael Wolff

Fire and Fury got a ton of press when it was released (google it to confirm for yourself). It’s not exactly All the President’s Men (a personal all-time favorite of mine) and Wolff isn’t exactly Bob Woodward. However, it is a fun read in the sense that I don’t usually read a lot of tabloid-esque salacious kind of material.

Not to say this isn’t good reporting. It clearly has one primary source, who seems to clearly be Steve Bannon given how much attention he gets in the book (and the story ends when Bannon’s tenure did).

There are a few insights into the Trump administration I didn’t know much about going in. First, the bulk of the book is about the dynamics of three warring camps vying for Trump’s attention: The traditional Republican establishment, the far-right populist extremists led by Steve Bannon, and Trump’s family members. Second, the very significant role the Mercer family plays as Republican power-players. For these perspectives alone, this book was worth reading, and probably more so if you like following the news as entertainment.

Brotopia – Breaking up the Boys’ Club of Silicon Valley by Emily Chang

Silicon Valley has not been immune to the #metoo wave upending industries over the past couple years. If anything, Emily Chang unveils ways in which the tech community is as bad as the entertainment industry, partially attributable to technologists’ increased wealth accumulation.

My favorite part of this story is the book’s early chapters that are very well researched histories of how computer programmers and academics self-selected people (white dorky men) to be the stereotype of what a computer programmer should be because of very flimsy science and general laziness. Chang’s first couple chapters explain how the implicit misogyny of mid-century academia created an inescapable cycle for women who couldn’t be taken seriously in computer science. This opening material of Brotopia was its most informative.

The the middle chunk of Brotopia covers either a lot of stories well-known in the tech media (like Uber’s sexual discrimination and harassment issues). Aside from the varying information levels between chapters, Chang has compiled a thorough, informative summary of the too-frequent sexism in the tech industry.

Four Stars (Highly recommended for those interested in topic, or generally recommended for anyone)

Astrophysics for People in a Hurry by Neil DeGrasse Tyson

I picked this up at an airport and the title lives up to its name. You can pretty much knock this short read in one cross-country flight. Beginning with the “Big Bang”, it expands out to the known limits of the universe, and concludes with an overview of humanity’s tools for understanding everything in between. It’s the perfect plane read: short, to-the-point with just the right amount non-academic commentary, and will leave you feeling just a little smarter than before you left.

At the Existentialist Cafe – Freedom, Being, and Apricot Cocktails by Sarah Blakewell

“Existential” is one of those words that people abuse without knowing what it means, and only refer to when talking about when reflecting upon the insignificance of their own lives. So when Bakewell’s book got good press for being a welcoming introduction to philosophy without Wittgensteinian jargon, I had to pick it up if I wanted to pursue being an amateur philosopher myself.

At the Existentialist Cafe weaves together a story broader than I expected by putting the advancement of philosophical ideas in the 20th century against the backdrop of greater cultural history, primarily the impact World War Two had on European culture and thinking. In this way, this book is as much a biography of humanity in the 1900s as it is a textbook on existentialism. The biography part is emphasized by focusing chapters on specific individuals who led the existentialist movement, primarily lovers Jean-Paul Sartre and Simone de Beauvoir. A touch of the author’s personal journey (because phenomenology is a personal philosophy) toward a life dedicated to studying philosophy supports a casual, welcoming tone. I recommend as a solid first book on philosophy.

Jim Brown – Last Man Standing by Dave Zirin

“We always lament in the superficial media culture that there are no heroes, but that presupposes that a hero is perfect. And what the Greeks have told us for millennia is that a hero isn’t perfect. Heroism is the negotiation between a person’s strengths and weaknesses… and sometimes it’s not a negotiation. It’s a war.” – Ken Burns quote to open the book

Jim Brown is the greatest football player of all time (I stand by this even with Tom Brady’s sixth Super Bowl ring and Jerry Rice’s records). And it is a name that, while fading from memory for new generations, still resounds in sports lore.

As NFL Films states in the above highlight video, in nine-record setting seasons, Jim Brown led the league in rushing yards eight times. Brown was a three-time league MVP. He is the only runner ever to average over 100 yards per game and over 5 yards per carry for a career.

“Jim thought on Sundays, and these are his words, that he was a god. That nobody could hurt him, that nobody could touch him, that nobody was better. And he proved it every Sunday…. That so called ‘macho’, which I hate that word, but he embodies it.” – Burt Reynolds

“I played nine seasons and never missed a game and I never laid out on the football field. I might not have the greatest ability of everybody, but the one thing that stands is that when it was time to play, I was there.“ – Jim Brown

I got to meet author David Zirin at the Volumes Bookcafe in Chicago’s Wicker Park district, where he spoke about his time interviewing Brown at his home. Zirin noted that even in his 80s, Brown is an imposing figure, still moving his gigantic frame with the help of a cane which resembles a tree trunk more than a stick.

What I really love about this biography is that it’s the perfect length, not an Odysseyian-sized epic like many biographies. It’s just long enough to devote efficient chapters to the many phases of Brown’s life: His fatherless youth, his career as the greatest football player ever and the last man to lead Cleveland to a major sports championship before Lebron James, his subsequent Hollywood film career, and his subsequent life promoting black rights alongside Muhammad Ali and Malcolm X and suppressing gang violence by encouraging black youth to compete economically, not violently.

As the opening Ken Burns quote foreshadows, there is another side to all the great things Brown accomplished. Zirin devotes a chapter to Brown’s history of under-reported domestic violence against the women in his life. Sociologists today could easily say that someone like Brown is the epitome of the modern term “toxic masculinity”.

Regardless of where you fall on the spectrum on judging Brown, in a today’s time where Malcolm X and Ali are gone, there remains gravitas to Jim Brown still standing.

Powerful – Building a Culture of Freedom and Responsibility by Patty McCord

How did the DVD-by-mail startup bankrupt Blockbuster and become (as of publishing this post) a $100 billion entertainment behemoth? It’s largely attributed to the innovative culture the company developed, led by Patty McCord.

This book pairs really well with Ray Dalio’s Principles because they both pull no punches. They attribute the success of their organizations to honesty, the removing of pretense, and saying what others won’t. Powerful’s chapter titles reflect this (“Human Beings Hate Being Lied To” and “The Art of Good Good-Byes: Make Needed Changes Fast and Be a Great Place to be From”). I personally believe that if more companies should follow something closer to the Netflix model explained in Powerful, the business world would be a better place.

To get a feel for Netflix’s perspective, you can revisit the original “Culture Deck” presentation Patty created at Netflix which helped inspire this book.

The Phoenix Project – A Novel about IT, DevOps, and Helping Your Business Win by Gene Kim, Kevin Behr, and George Spafford

So many companies have moved from the “IT” department from being a cost-center to business-critical. And yet the horror stories of software products taking too long to ship and always breaking is still the norm.

In 2013, developer operations (“DevOps”) pioneers Kim, Behr, and Spafford codified what they had learned about integrating business deadlines, agile software development, and software-infrastructure-as-code into a novel. The Phoenix Project’s story and structure are based on Eli Goldratt’s The Goal (which I previously reviewed), which translated his own Theory of Constraints mixed with Toyota’s legendary manufacturing philosophies into a story that generalized to many businesses.

As I followed our protagonist Bill and his IT team at “Parts Unlimited” drowning in deadlines and marketing team demands, it reminded me of all numerous project and process failures I’ve seen in my own career. Optimistically, the happy ending and how Bill arrives there provides a generally useful template more companies should try to learn from when trying to figure out how to move faster with increased effectiveness.

Measure What Matters: How Google, Bono, and the Gates Foundation Rock the World with OKRs by John Doerr

Doerr, a legendary venture capitalist involved in Google and Twitter, has written the guide to Objectives and Key Results (OKRs), the performance management process used by many of the top technology companies (and increasingly outside computers). Measure What Matters interweaves chapters written by entrepreneurs who have used the system to success with Doerr’s practical and specific advice for how to align all employees in an organization to achieve collective goals via individual contribution.

This absolutely earns a spot in the canon of handbooks aspiring business-people must read. Without avoiding replicating the entire book here, I’d just recommend that every company without a performance management system send a copy to every employee.

Skin in the Game: Hidden Asymmetries in Daily Life by Nassim Nicholas Taleb

“Skin in the game is about honor as an existential commitment, and risk taking (a certain class of risks) as a separation between a man and machine.”

That’s the description of the book’s core concept (from page 35 of the hardcover). Primarily, Skin in the Game thoroughly explains the philosophical and tangible importance of personal risk-taking to humanity. From bankers and wantrepreneurs losing others people money and going back to their taxpayer funded beach houses or the nefariousness of wage-slavery, Taleb uncovers “asymmetries” throughout society. In other words, areas of life where people are taking more than they’re giving, and how to not be one of them.

Taleb extends this study of social asymmetry to other areas, including a fascinating chapter on minority rule (relevant for liberals who were astounded by Donald Trump’s presidential win, which Taleb essentially predicted and explains). Antifragile is still my favorite of Taleb’s books since I find its ideas even more insightful, but this is still a must-read. Taleb’s insights are still well-understood in culture, and they should be.

Five Stars (Highly Recommend to Everyone)

Bad Blood – Secrets and Lies in a Silicon Valley Startup by John Carreyou

This book comes at an important time in American culture when journalism and media is under attack. Journalist John Carreyou has given the field its best defense by uncovering the most blatant and diabolical American corporate fraud since either Bernie Madoff or Enron. The various financial institutions may have done more damage in the 2000s, but you’d be hard pressed to find a much clearer link between knowingly putting people’s health at risk for the sake of greed and fame as what happened here.

Carreyou tells the inside story of Theranos, a much-lauded biotech startup started by the psychopathic founder Elizabeth Holmes. The psychiatric accusation may seem strong until you read what she did in verbally abusing employees, hiring private investigators to watch employees at their homes, and ultimately risking people’s lives by faking and lying about blood test results from her company’s products.

It’s the kind of story I imagine splits a journalist’s psyche: it’s the kind of criminal story that makes a journalist’s career, but wouldn’t be possible without others having suffered from the crimes. Carreyou has done a tremendous humanitarian service by telling this story.

The Best Books Read in the First Half of 2018

For the first time on this blog, I am giving this nod to two books that were both so supremely written and whose stories are so intertwined that it made sense to give them both the honor.

The Gene – An Intimate History by Siddhartha Mukherjee

The Gene Cover

Siddhartha Mukherjee, a Pulitzer Prize winner, cancer physician, and professor at Columbia University, has written the canonical history of the gene. The concept of the “gene”, along with related ideas of “heredity” and “evolution”, is one of those ideas that most people are vaguely familiar with but don’t know much beyond what they can recall from high school.

Mukherjee has written the most readable and still comprehensive history of evolutionary science, focusing on the gene as its core.

Forget the science, which is taught with clarity I’ve only encountered in Feynman’s stories. The Gene is as intellectually inspiring as it is emotionally energizing. The author went into medical research and genomics to uncover the root of his family’s dark secret: everyone in his family and their local Indian village knew his family was cursed with schizophrenia, which consumed the life of his two uncles and a cousin.

The book opens with this powerful prologue:

“My father is the youngest of five brothers, and Moni is his first-born nephew–the eldest brother’s son. Since 2004, when he was forty, Moni has been confined to an institution for the mentally ill…with a diagnosis of schizophrenia. He is kept densely medicated–awash in a sea of a sorted antipsychotics and sedatives–and has an attendant watch, bathe, and feed him through the day….

Moni is not the only member of my father’s family with mental illness. Of my father’s four brothers, two–not Moni’s father, but two of Moni’s uncles–suffered from various unravelings of the mind. Madness, it turns out, has been among the Mukherjees for at least two generations, and at least part of my father’s reluctance to accept Moni’s diagnosis lies in my father’s grim recognition that some kernel of the illness may be buried, like toxic waste, in himself….

In 2009, Swedish researchers published an enormous international study, involving thousands of families and tens of thousands of men and women. By analyzing families that possessed intergenerational histories of mental illness, the study found striking evidence that bipolar disease and schizophrenia shared a strong genetic link. Some of the families described in the study possessed a crisscrossing history of mental illness achingly similar to my own: one sibling affected with schizophrenia, another with bipolar disease, an a nephew or niece who was also schizophrenic….

The study provided a strange interior solace–answering some of the questions that had so haunted my father and grandmother. But it also provoked a volley of new questions: If Moni’s illness was genetic, then why had his father and sister been spared? What “triggers” had unveiled these predispositions? How much of [Moni’s] illness arose from “nature” (i.e., genes that predisposed to mental illness) versus “nurture” (environmental triggers such as upheaval, discord, and trauma)? Might my father carry the susceptibility? Was I a carrier as well? What if I could know the precise nature of this genetic flaw? Would I test myself, or my two daughters? Would I inform them of the results? What if only one of them turned out to carry that mark?

This book is the story of the birth, growth, and future of one of the most powerful and dangerous ideas in the history of science: the ‘gene,’ the fundamental unit of heredity, and the basic unit of all biological information.”

Modern Prometheus – Editing the Human Genome with CRISPR-Cas9 by Jim Kozubek

Modern Prometheus Crispr-Cas9 Cover

For those who have heard the term “gene editing” but don’t really know much biochemistry, CRISPR-Cas9 is the technology behind one of the most important scientific revolutions of our time. Author Kozubek not only explains this innovative tool with readable scientific precision, he elevates its significance. His unique background of journalist-turned-scientist gives him the perfect skillset to tell this story.

CRISPR is an important inflection point in human evolution, enabling us to change who we are at our most fundamental genetic level. Modern Prometheus impresses this importance upon the reader by spending as much time on the political and capitalistic implications of the technology as the underlying science.

Kozubek acknowledges, with great respect, the tough choices that have been and will continue to be made by the brilliant scientists who have increasingly dangerous power over everyone not seen since the creation of the atom bomb:

“Heroism, at least as I use it in my own text, does not emphasize scientific valor as a series of achievements by right-minded people. Rather, to be a hero means to be immersed in a life-world, or lebenswelt, as the philosophers call it, to navigate complicated social, cultural and biological strata where there are no fundamentally right actions. Whereas we once had the archetype of the ‘Greek hero,’ who confronted binary decisions of whether to adhere or break with authority, the ‘Western Hero’ evolved into a pragmatic model. He knows his own moral character is not higher than his peers, but that does not stop him from enforcing justice or an ethic through a policy of pragmatism.

“In effect, to be a hero means to pursue one course of action at the expense of another course. Every ‘scientific hero’ knows he was just following one of many hypotheses and lines of thought. And, just like the valiant hero who steps into traffic to save a child, he denies it was a special act, because he is not entirely confident that he would have done it again. A genuine hero knows full well he could have easily acted otherwise.”

Books Read in the Second Half of 2017

After a particularly busy year, I am playing catchup on the book reviews. Yes, I do realize it’s almost the end of 2018, but I still have 2017 books to write about.

Two Stars (Recommended only for those interested in the subject)

The Inevitable: Understanding the 12 Technological Forces That Will Shape Our Future by Kevin Kelly

Futurist Kevin Kelly’s book covers twelve technological trends (each described with one abstract term, starting with “Becoming” and ending with “Beginning”). Each chapter reads like a blog post on the subject. I’m probably a bit biased against the book because I already read a lot about technology, so none of the material seemed surprising to me. So the ideal reader is probably someone who doesn’t following the tech industry very closely but would like a readable overview of what’s to come. For everyone else, I’d recommend Kevin Kelly’s interview on EconTalk.

Three Stars (Recommended)

Grammar Girl’s 101 Misused Words You’ll Never Confuse Again by Mignon Fogarty

Mignon “Grammar Girl” Fogarty has been running her popular writing blog seemingly as long as I’ve been writing online. This pocket-sized guide provides “quick and dirty tips” to avoid misusing commonly swapped words. While about half of the 101 examples are known to most educated people, the surprising subtle lessons (like the difference between “purposely” and “purposefully”, or the controversial idea that “supposably” is a real, defined word separate from “supposedly” accepted in America but not British English) are worth the couple of bucks for this grammar pamphlet.

The Old Fashioned: The Story of the World’s First Cocktail with Recipes and Lore by Robert Simonson

Compared to most of my friends, I am nowhere near being a mixologist. I openly admit I only started drinking this cocktail because it was the drink of choice for Mad Men’s leading man Don Draper. Thankfully, “The Old Fashioned” acknowledges I’m not alone.

“The Old Fashioned” book has two ingredients: It starts with the lore and ends with the recipes. Simonson, whom is probably the foremost expert in The Old Fashioned and therefore has the coolest job in America, journalistically traces down the history and origin of the Old Fashioned cocktail as best he can. He freely admits that trying to pinpoint a creator is “a bit like saying a single person invented jazz.” The concise history is a fun read through alcohol’s relationship with various periods of American history and insight into mixologists’ minds.

Angel: How to Invest in Technology Startups – Timeless Advice from an Angel Investor Who Turned $100,000 into $100,000,000 by Jason Calacanis

I have a brief and long-forgotten history with Mr. Calacanis (and he surely won’t remember this story). While I was in high school, I AOL instant messaged Jason a question about the tech industry, when he was mostly a prominent blogger and not yet the investing and industry kingpin he is today. Without posting a copy of the conversation publicly, Jason responded and was super supportive of my tech industry ambitions at the time.

A decade later, I picked up his first book Angel about the art of investing as an individual. For those unaware, the gist of angel investing is a rich person investing their personal money into companies. Calacanis explains how to do this effectively, based on his experience as an early investor in hits like Uber: studying business, particularly technology startups, for a while before committing any money, spreading it around, combining your money with other individuals to create small investment funds, and expecting numerous failures and lost dollars along the way.

Calacanis, who also hosts the popular and entertaining This Week in Startups podcast, is known for his bombastic communication style. It may turn off some readers, but they’re probably missing the point. His point isn’t to sensationalize as much as, I think, it is to emphasize simple, blunt points and reality checking the wannabes who don’t really have the stomach for the failure it can require to make it in the startup life, even as an investor.

While the topic of Angel is very specialized, I can personally attest that Jason is genuinely out to help people and this is probably the best book on this niche.

Heather, the Totality by Matthew Weiner

The first novel by the creator of one of my favorite shows, Mad Men, is a brief, well-paced read. Written in short, simple sentences similar to Hemingway, this is a seamless read. Weiner’s pacing is perfect; he’s able to cover long periods succinctly and the story seems to speed up as it reaches its climax. Heather tells the story of a seemingly generic, middle-class white family and the dark secrets each of its members keep. The genius of the writing is that more average families hide dark secrets than they admit. A deceptive buildup to the twist ending helps make the book more memorable.

Digital Gold: Bitcoin and the Inside Story of the Misfits and Millionaires Trying to Reinvent Money by Nathaniel Popper

This is a book about Bitcoin, a concept whose popularity and general understanding has changed drastically since this book was written in 2015, since I read it in 2017, and since this review is published at nearly the beginning of 2019.

Author Popper captures the origin story of Bitcoin through extensive interviews with early Bitcoin programmers Hal Finney and Gavin Andresen and continues on to chronicle the obscure technology’s rise to fame through a colorful cast of characters, including: South American financial entrepreneur and early Bitcoin Wences Casares, the Winklevoss Twins of Facebook infamy, and Ross “Dread Pirate Roberts” Ulbricht of the Silk Road drug marketplace.

It’s interesting to consider to what extent books like Digital Gold contributed to the cryptocurrency mania that took over the technology news cycle in 2017. Regardless of where you fall on the spectrum of skeptic to utopian technologist, Digital Gold is a thorough and consumable read for anyone curious on where the hell Bitcoin came from and why people care.

Four Stars (Highly recommended for those interested in topic, or generally recommended for anyone)

Product Leadership: How Top Product Managers Launch Awesome Products and Build Successful Teams by Richard Banfield, Martin Eriksson, and Nate Walkingshaw

Surprisingly, there are still not many books on the important no-longer-burgeoning field of Product Management. I’ve previously reviewed the popular Marty Cagan book “Inspired”, which is a decent “Product Management 101” introduction to the field. Product Leadership is a very solid “PM 201” level course, this time focusing much more on the “management” aspect than the tactics of product development. A lot of the content in this short book is interviews with product managers about their experiences, primarily team management and cross-department collaboration.

The Startup Way: How Modern Companies Use Entrepreneurial Management to Transform Culture and Drive Long-Term Growth by Eric Ries

Eric Ries rose to prominence less for the success of his own startups, which has varied, but for codify the methodology he developed for building tech startups along the way in his 2011 classic “The Lean Startup”. Now, after years of consulting with large companies like Intuit and General Electric, he is back with this sequel, expanding upon his theories to fit the demands of big businesses.

While this book certainly isn’t as groundbreaking as his first book, it has the potential to be more impactful over the long run. It provides another take on the “business transformation” industry which is peppered with talks about how companies need to “innovate”, “become agile”, and . What Eric Ries tend to do be good at which separates him from sketchier self-promoters are two main things present in this book: provide examples and interviews from actual business and clients (not hypotheticals), and try to create a playbook method people can practically use.

The main new theory here that stood out to me is Ries’s “Innovation Accounting” method which bridges the gap between venture capitalists and traditional private research and development into a more cohesive model for turning new ideas into businesses from within an existing structure. If there’s any problem with the book it’s probably that it’s lighter on content than The Lean Startup, but I’ve seen enough organizations that could still use the advice here.

Startup CEO: A Field Guide to Scaling Up Your Business by Matt Blumberg

Author Matt Blumberg is the CEO of Return Path, an email delivery technology company, which has seen its fair share of tough times since he founded the company in 1999. Former Twitter CEO Dick Costello writes in the forward, “Most companies don’t survive that many changes in direction over that many years. Return Path, by contrast has survived and thrived…. How did they do it? By focusing on all the unglamorous bits and building a company resilient enough to weather major pivots, the occasional divestiture and (most recently) a global economic crisis).”

So Matt knows pretty well what he’s talking about when he compiles a collection of advice for aspiring entrepreneurs. It’s a great checklist of a CEO’s responsibilities (pitching internally and externally, investor relations, strategy and operations, etc.), with each area getting a concise chapter, often paired with a guest author essay who has particular expertise on the subject. This is a handy reference book for new CEOs to keep near their desk.

The Big Sleep by Raymond Chandler:

One of the surest ways to achieve immortality is to create or define something. With this first novel, Chandler founded, or at least popularized, noire as a new genre.

Like reading Shakespeare or listening to Beck, The Big Sleep can seem cliched if you don’t keep in mind that it’s the originator of its style. This detective story features all of the hallmarks of the genre: the brooding detective, gruff bureaucratic police officers, and loose women.

The story organically unfolds into unexpected complexity, which is just what one wants from a detective story. With sharp dialogue and snappy 1940s action, reading the The Big Sleep in the 21st century explains why Chandler is considered one of the great American writers of the 20th century.

Sex, Drugs, and Cocoa Puffs: A Low Culture Manifesto by Chuck Klosterman

Although this is not the first Chuck Klosterman book I’ve read, it was the first one I saw (which is not surprising considering it’s by far his best seller and largely made his career). I first came across the indelible cover photo (an image which Klosterman himself suspects played a large role in the books popularity) in the bathroom of my friends’ off-campus college house in 2010, which feels like the most appropriate and/or stereotypical place to find it.

This collection of essays, published in 2003, made an impact for living up to its subtitle. In a year when Ev Williams sold Blogger to Google, Klosterman’s writing style and topic choices are oft-cited for inspiring much of blog culture; that is, writing thoughtfully about topics considered too low-brow for academia. If you have a passion for an under-appreciated niche that you think is artistic and important and want to tell the world, Klosterman gave you a template for how to do so.

The essay topics have some common themes, including but not limited to: sex (Why did the concept of MILFs become so popular in the Internet age? Is Pamela Anderson the Marilyn Monroe of the 90s? Did John Cusack’s early movies ruin relationships by giving women unreal expectations about men?) and the definition of “cool” (people who say they dislike country music are trying too hard to be cool, cereal brand marketing are kids first taste into using external culture for self-definition, the relevance of the term “cool” in the history of Rock and why Billy Joel’s coolness void does not impact his artistic greatness).

I don’t agree with everything he claims (his stance on soccer sucking and videogames not being art are two examples), but I agree completely with the way he writes about them. He’s the broader cultural embodiment of Roger Ebert’s maxim: “It’s not what a movie is about, it’s how it is about it.”

Lastly, Klosterman wins extra kudos for this paragraph on Cheap Trick, which is, in my humble opinion, the most underrated rock band:

“Retrospectively, the unilateral Cheap Trick fixation made perfect sense: Cheap Trick was good at being cool for everybody. They rocked just hard enough to be cool to metal kids, they looked just cool enough to be New Wave, and Robin Zander had the kind of hair that semi-mature teenage girls wanted to play with. Even today, the Cheap Trick logo stands as the coolest-looking font in the history of rock.”

The Spider Network – The Wild Story of a Math Genius, a Gang of Backstabbing Bankers, and One of the Greatest Scams in Financial History by David Enrich

This incredible work of journalism covers the largest fraud in financial industry history: the infamous LIBOR manipulations of the late 2000s and early 2010s. The story centers around Tom Hayes, a man portrayed as a nearly-stereotypical introverted math nerd who naturally becomes wealthy in the financial industry because that’s precisely what quantitatively advanced people did in the 2000s if didn’t stick around in academia. Hayes’s very specific niche of the financial industry, trading financial assets based on the London Interbank Offered Rate (LIBOR), connects with him a very real, very seedy underbelly of international fraud.

The Hayes character adds an unexpected humanity to the story. As the quintessential fall guy, author Enrich does an incredible job chronicling how the bankers and brokers throughout the international financial system conspired to route fraud through Hayes in a manner that shields. What’s most special about this story is what I describe as a narrative reverse head fake. That is, without complete spoilers, the story seems to build to a too-predictable ending which makes one expect a plot twist. But there is no twist; you get exactly the ending you expect, and it’s all the more heart-wrenching because it was inevitable. His story would be tragic if he didn’t make so much damn money along the way.

Five Stars (Highly Recommend to Everyone)

The Goal – A Process of Ongoing Improvement by Eliyahu Goldratt and Jeff Cox

I hadn’t heard of The Goal until it was recommended to me by the hardware engineer at Hologram. I suspect a lot of people in my generation have not heard of it, despite it being one of the best management books I’ve read.

The Goal is a novel starring Alex Rogo, the fictional manager of a UniCo Manufacturing plant which produces unidentified widgets. When his division manager tells him he has three months to make his plant profitable or else face layoffs, and his wife leaves him for working too much, Rogo reaches out to an old professor for guidance. What ensues is an enlightenment journey to the promise land of effective management.

The core ideas are simple, yet I’ve seen first-hand way too many organizations screw up the basics. Identifying and alleviating bottlenecks in any process, while not comprehensive, are such simple steps with outsized impact that they’re routinely overlooked. Goldratt’s Theory of Constraints is a great example of a memorable heuristic that can apply to work and life.

Adaptive Markets – Financial Evolution at the Speed of Thought by Andrew Lo

Professor Lo has written the finance book I wish I could have written.

The book’s title is central to the story, but not the story entirely.

Adaptive Markets is split into thirds:

First, a history of not only the study of finance, but also neuroscience, biology, and evolutionary theory, explaining how the latter inform the former.

Second, these disparate fields of study culminate in Lo’s “Adaptive Markets” hypothesis, which is summarized by these five principles (verbatim from page 188 of the hardcover):

“1. We are neither always rational nor irrational, but we are biological entities whose features and behaviors are shaped by the forces of evolution.

2. We display behavior biases and make apparently suboptimal decisions, but we can learn from past experience and revise our heuristics in response to negative feedback.

3. We have the capacity for abstract thinking, specifically forward-looking what-if analysis; predictions about the future based on past experience; and preparation for changes in our environment. This is evolution at the speed of thought, which is different from but related to biological evolution.

4. Financial market dynamics are driven by our interactions as we behave, learn, and adapt to each other, and to the social, cultural, political, economic, and natural environments in which we live.

5. Survival is the ultimate force driving competition, innovation, and adaptation.”

The final third concludes with Lo’s analysis of the current state of the financial industry and how to improve it. Regulatory examples, such as the National Transportation Safety Board (NTSB) model, provide routes for root cause analysis without finger-pointing. The concluding chapter on financial innovation for good is the material every wannabe-investment banker should read before beginning his or her career. There is so much great intellectual content in Adaptive Markets that it’ll be one of the very few books I reread.

Between the World and Me by Ta-Nehisi Coates

Written as a biographic letter from father to son, Between the World and me is brutally insightful into the mindset of modern African Americans. Coates spends the first third of his book describing his youth on the streets of Baltimore to his son. This section is impactful, profound, and has sheering insight for white readers into how ingrained a different definition of “normal life” is for black people, as well as all the contradictory messages the world (through schools and media) send to black youth.

The second phase of the book moves the story toward Coates’s adult years, where he begins his intellectual awakening, first by exposure to new things in college, and then growing wiser by finding the conflicting ideas between the intellectuals he respects. He gains broader understanding of emotions and love as he finds his son’s mother.

This personal story is embedded in the deeper context of what Coates calls “The Struggle” and why black people must continue to beat back against societal tides which hold them back. After finishing this remarkably told parable, I don’t think I’ve “learned” anything per se, because I’m not sure a white male can really say he “learned” from something this personal and outside his life experience. But I’m left with an impression that makes me stop and think, longer and harder than I did before. For a story like this, I think that’s the minimum an author would hope to convey to me, and Coates accomplished this.

Best Book Read in the Second Half of 2017

Life and Work Principles by Ray Dalio

What Life and Work Principles has in common with my last semiannual “best book”, Stephen King’s On Writing, is that it’s a combination how-to manual and autobiography written by someone who has succeeded with the advice given.

Billionaire investor Ray Dalio lays out his rules for managing life and work in a straight-shooting list format. I’m surely biased in my feelings for this book because the advice resonates with me, I agree with nearly all of it, and the average person would disagree with my last two statements. This is also why Ray Dalio is not the average person. Most people aren’t used to describing other humans as “enemies” and worthy of metaphorical “public hangings” for failing at work (at least, I think Dalio means this metaphorically). But sometimes, when you want to do great things, there can be no wasted spacetime.