As digital technology reduces the need for labor in many industries, the proportion of the rewards returned to those who own the intelligent machines is growing. A venture capitalist in today’s economy can fund a company like Instagram, which was eventually sold for a billion dollars, while employing only thirteen people. When else in history could such a small amount of labor be involved in such a large amount of value?

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Step 1: Decide What Capital Market You’re In For the sake of clarity, I will introduce some new terminology. When you are acquiring career capital in a field, you can imagine that you are acquiring this capital in a specific type of career capital market. There are two types of these markets: winner-take-all and auction. In a winner-take-all market, there is only one type of career capital available, and lots of different people competing for it.

If you want to win the war for attention, don’t try to say ‘no’ to the trivial distractions you find on the information smorgasbord; try to say ‘yes’ to the subject that arouses a terrifying longing, and let the terrifying longing crowd out everything else.” For

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I argue that his approach to batching helps explain this paradox. In particular, by consolidating his work into intense and uninterrupted pulses, he’s leveraging the following law of productivity: High-Quality Work Produced = (Time Spent) x (Intensity of Focus)

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Jim Clark was interviewed at an event held at Stanford University. At some point in the interview, the topic turned to social media. Clark’s reaction was unexpected given his high-tech background: “I just don’t appreciate social networking.” As he then clarifies, this distaste is captured by a particular experience he had sitting on a panel with a social media executive: [The executive was] just raving about these people spending twelve hours a day on Facebook . . . so I asked a question to the guy who was raving: “The guy who’s spending twelve hours a day on Facebook, do you think he’ll be able to do what you’ve done?

When deciding whether to follow an appealing pursuit that will introduce more control into your work life, seek evidence of whether people are willing to pay for it. If you find this evidence, continue. If not, move on.