Lu Liu

:( - Lu Liu from Bookmarklet

"In the past decade, media businesses, from music to newspapers, have suffered from the impact of unbundling. Civil wars in the cable business make it likely that it’ll be next." - Lu Liu from Bookmarklet

There are two ways that companies can extend what they're doing. One is they can take an inventory of their skills and competencies, and then they can say, "OK, with this set of skills and competencies, what else can we do?" And that's a very useful technique that all companies should use. But there's a second method, which takes a longer-term orientation. It is to say, rather than ask what are we good at and what else can we do with that skill, you ask, who are our customers? What do they need? And then you say we're going to give that to them regardless of whether we currently have the skills to do so, and we will learn those skills no matter how long it takes. Kindle is a great example of that. It's been on the market for two years, but we worked on it for three years in earnest before that. We talked about it for a year before that. We had to go hire people to build a hardware--engineering team to build the device. We had to acquire new skills. There's a tendency, I think, for... more... - Lu Liu from Bookmarklet

"From a game-theory perspective, price wars are usually negative-sum games: everyone loses." - Lu Liu from Bookmarklet

But consumers win. - Lu Liu

"But the math culture they find in America, while less back-stabbing than that of the Soviet math establishment, is far from the meritocratic ideal that Russia's unofficial math world had taught them to expect. American math culture has intellectual rigor but also suffers from allegations of favoritism, small-time competitiveness, occasional plagiarism scandals, as well as the usual tenure battles, funding pressures and administrative chores that characterize American academic life. This culture offers the kinds of opportunities for professional communication that a Soviet mathematician could hardly have dreamed of, but it doesn't foster the sort of luxurious, timeless creative work that was typical of the Soviet math counterculture." - Lu Liu from Bookmarklet

'You don't have to believe me. Listen to what Chinese officials are saying. The best line in recent days came from Lou Jiwei, chairman of the sovereign wealth fund, China Investment Corp., talking about why he expects to have a good year: "Both China and America are addressing bubbles by creating more bubbles and we're just taking advantage of that. So we can't lose."' - Lu Liu from Bookmarklet

"For the past 30 years, financial innovation has increased costs and risks for both individual consumers and the global economy. To take the most obvious example, consumers bought houses they could not otherwise have bought using new mortgages they had no hope of repaying, creating a housing bubble, while new derivatives helped hide the risk of those mortgages, creating a securities bubble." - Lu Liu from Bookmarklet

Sounds so familiar ... "There's never time to do it right, but there's always time to do it over... I have at times found myself slipping into this pattern, continually patching the same code over and over." - Lu Liu from Bookmarklet

Mindblowing when combined with http://www.aaronsw.com/weblog... - Kartik Agaram