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.
American computer scientist, academic lecturer and writer
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Our sociality is simply far too complex to be outsourced to a social network or reduced to instant messages & emojis. Any digital minimalist must confront this reality & manage his or her relationship with these tools accordingly. [...] The key is the intention behind what you decide, not necessarily its details.
You have a finite amount of willpower that becomes depleted as you use it. Your will, in other words, is not a manifestation of your character that you can deploy without limit; it’s instead like a muscle that tires. This is why the subjects in the Hofmann and Baumeister study had such a hard time fighting desires — over time these distractions drained their finite pool of willpower until they could no longer resist. The same will happen to you, regardless of your intentions — unless, that is, you’re smart about your habits.
In knowledge work, when you agree to a new commitment, be it a minor task or a large project, it brings with it a certain amount of ongoing administrative overhead: back-and-forth email threads needed to gather information, for example, or meetings scheduled to synchronize with your collaborators. This overhead tax activates as soon as you take on a new responsibility. As your to-do list grows, so does the total amount of overhead tax you’re paying. Because the number of hours in the day is fixed, these administrative chores will take more and more time away from your core work, slowing down the rate at which these objectives are accomplished. At moderate workloads, this effect might be frustrating: a general sense that completing your work is taking longer than it should. As your workload increases, however, the overhead tax you’re paying will eventually pass a tipping point, beyond which logistical efforts will devour so much of your schedule that you cannot complete old tasks fast enough to keep up with the new. This feedback loop can quickly spiral out of control, pushing your workload higher and higher until you find yourself losing your entire day to overhead activities: meeting after meeting conducted against a background hum of unceasing email and chat. Eventually the only solution becomes to push actual work into ad hoc sessions added after hours — in the evenings and early mornings, or over the weekend — in a desperate attempt to avoid a full collapse of all useful output. You’re as busy as you’ve ever been, and yet hardly get anything done.
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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?