James and the Giant Gyro
You probably caught the tongue-in-cheek reference to the Peach. This is a peach of a story.
It’s one of those little gems that hits you in the face with a brick. You never forget it.
If you’ve ever bought a stock, chances are you did some sort of valuation; price to earnings, price to book, etc. If you’re crazy, you may have even consulted a chart; or an astrologist.
Jim’s parable brilliantly hightlights how absurd we can be when it comes to the placing value on a business:
On his way to give a talk at Google, Jim comes across a Gyro truck outside the venue. Gulping down what has to be the best Gyro Jim has ever eaten, his business prowess senses opportunity.
Curious, Jim asks the guy his revenue.
“100k.” the man says.
“What would you want for the business?” Jim asks.
“Ten million dollars.”
The value investor in Jim takes a pass. The quant notes the correlation of good gyros and insantity.
Another gem from Jim (hey, Gems from Jim — nice ring to it.) is, “Attention is the new gold.” If you’ve ever wanted to build an audience on Social Media, I recommend, and am an affiliate of the Art of Purpose course: Create 24/7 — The Blueprint to Unlimited Content Creation. This is by far, the most comprehensive course on content creation out there.