Research: The Average Age of a Successful Startup Founder Is 45

Source: https://hbr.org/2018/07/research-the-average-age-of-a-successful-startup-founder-is-45

We found that the average age of entrepreneurs at the time they founded their companies is 42.

The average age of high-tech founders falls in the early forties.

In other words, when you look at most successful firms, the average founder age goes up, not down.

Among those who have started a firm, older entrepreneurs have a substantially higher success rate.

Relative to founders with no relevant experience, those with at least three years of prior work experience in the same narrow industry as their startup were 85% more likely to launch a highly successful startup.

many VCs may operate under a mistaken belief that youth is the elixir of successful entrepreneurship — in other words, VCs are simply wrong.

Rather, they may seek investments that will yield the highest returns, and it is possible that young founders are more financially constrained than more experienced ones, leading them to cede upside to investors at a lower price.

US-China trade war: Opinion Home Opinion All stories From trade war to third world war? From Korea to the South China Sea, Trump’s tariffs risk escalation

Source: https://www.scmp.com/comment/insight-opinion/united-states/article/2154568/trade-war-third-world-war-korea-south-china

Go one step beyond that, and countries are going to begin blockading shipping and closing borders entirely. Finally, there is the danger of war as the only recourse that some leaders will decide is needed to set matters straight again.

Think of Chinese support for North Korea: Pyongyang relies on Beijing for virtually all its oil and a large percentage of its food, among many other items. If the US fails in its dialogue with North Korea over denuclearisation and the danger of war again hovers over the Korean peninsula, China would surely side with North Korea, as it did in the Korean war.

The stand-off with China extends all round the rim of Asia, down to the South China Sea and on to the Indian Ocean and the Arabian Sea, and beyond.

Korea’s trade surplus with the US last year was US$23.1 billion, down from a high of US$28.3 billion in 2015 but still considerably more than US trade officials would like.

Japan, whose surplus with the US last year reached US$68.8 billion, down from a peak of US$76.4 billion in 2012 but still far too high.

With numbers like these, it’s easy to see why Trump is talking so tough about the trade deficit while America’s trading partners are outraged by moves to cut it.

The fear, however, is that these nasty battles could eventually explode into armed conflict in which hundreds of millions, maybe billions, would perish. Policymakers and negotiators have to keep this risk at the top of their concerns as they confront one another in a global trade war that could someday erupt into the third world war.

 

differences between webhook and websocket

Webhooks

Webhooks are for server to server communication. They work by one server telling another server that it wants data sent to a certain url when something happens.

This article talks about some uses of webhooks in popular services. This organization talks a lot about using them in the context of RESTful APIs.

Websockets

Websockets are (usually) for server to browser communication. The server hosts a websocket server, and clients can open a connection to that server. This is popular now mostly because it is faster and less resource-hogging than older ways of solving the problem, like long-polling/COMET.

It is possible to connect 2 servers using websockets, but that is not usually what they are used for.

The confusion

Even though one of these is (exclusively) server-server and one is (mostly) browser-server, these technologies are often discussed in the same places, almost like they are solving the same problems. If you look up the chain high enough, you see that they both solve the problem of “real time” communication, but they solve different aspects of this problem in very different ways.

One situation where there may be a direct comparison is if you are building an API that will be consumed by a third party server. In that situation, you could provide a webhook API or a websocket API. Both allow the third party to get updates quickly:

  • If you choose webhooks, that third party will still have to figure out a way to push the changes you are telling them about to their client’s browsers.
  • If you provide a websocket API, the third party can just set up their site so each of their users connects directly to your websocket API, and their servers have to do less work.

Survival of the Richest

The wealthy are plotting to leave us behind

Source: https://medium.com/s/futurehuman/survival-of-the-richest-9ef6cddd0cc1

Last year, I got invited to a super-deluxe private resort to deliver a keynote speech to what I assumed would be a hundred or so investment bankers. It was by far the largest fee I had ever been offered for a talk — about half my annual professor’s salary — all to deliver some insight on the subject of “the future of technology.”

I’ve never liked talking about the future. The Q&A sessions always end up more like parlor games, where I’m asked to opine on the latest technology buzzwords as if they were ticker symbols for potential investments: blockchain, 3D printing, CRISPR. The audiences are rarely interested in learning about these technologies or their potential impacts beyond the binary choice of whether or not to invest in them. But money talks, so I took the gig.

Continue reading “Survival of the Richest”

Go features

Source: http://qr.ae/TUpzWs

  1. In Go a type definition is neither pointer nor value, it’s just a type.
  2. Go doesn’t have classes
  3. Go doesn’t have inheritance, it has interfaces for polymorphism and some sugar for automatic delegation (“struct embedding”).
  4. Simple build system. Want to compile for linux arm from your MacBook? GOOS=linux GOARCH=arm go build.
  5. Implicit interfaces.
  6. Great standard library. Go’s standard library covers JSON, Templating, HTTP (production grade), testing, benchmarking, etc, etc.
  7. Standard formatting.
  8. Documentation for free.

Deploying Go apps to Heroku

1. Make sure the app is running fine locally.

2. Install dep, with the project in $GOPATH/src/<user>/<project>, run dep init inside the project directory, dep ensure to generate the vendor files

3. Download and install Heroku CLI, run heroku login to login and heroku create to create the app, then heroku buildpacks:set heroku/go to set the build environment (ref: https://devcenter.heroku.com/articles/buildpacks)

4. Edit Gopkg.toml to include metadata.heroku section

[meatadata.heroku]
root-package="github.com/<user>/<project>"
go-version = "1.0"
build = [.]
ensure="false"

5. Configure semaphoreci.com to load the git repo from Github.com and deploy to Heroku, all continuous build, test and integration.

Macroeconomics – 11. The Economics of Developing Countries

  1. What are some of the most important characteristics of developing countries?
  2. Describe the Malthusian trap associated with population growth.
  3. Explain the demographic transition view of population growth.
  4. What is the so-called “brain drain?”
  5. What is the Catch-22 of capital formation for many developing countries?
  6. Illustrate the vicious circle of poverty.
  7. Regarding strategies of economic development, describe and assess three major strategic choices faced by developing countries.
  8. List nine ways for developing countries to enhance economic growth.