The Bank of Cisco | Nyquist Capital

One of the industry blogs I’ve been reading for a long time is Nyquist Capital. I like it because Andrew Schmitt provides excellent analysis that is independent of the herd mentality you find in both the investment and industry press worlds. Both of those tend to be echo-chambers.

His latest brilliant update isThe Bank of Cisco. In it he goes against what everyone is saying about Cisco’s big (and about to grow bigger) pile of money. Most analysts, looking at Cisco’s past decade of behavior believe it is for acquisitions. Schmitt thinks they are looking to make sure Cisco can still sell by becoming the bank. That is providing capital where banks will not, or can not when it comes time for Cisco’s customers to buy equipment. His logic is backed up not by Cisco’s history, but history itself.

I love thinking like that.

What’s wrong with this Picture? (Plus John Fitch Bonus!)

OK, so it isn’t a picture, it is a movie.

I don’t know if it is my design training or perhaps an innate ability, but I spot these things all the time. In fact I am likely one of the most prolific contributors to IMDB in this respect. This isn’t a movie, so I won’t be heading over to IMDB now… but do you have any idea what I’m talking about?

On a more obvious note, I never watch Jay Leno on TV really, but I do visit his website from time-to-time*, as he shares amazing stuff like this:

*I just wish his website had an RSS feed for new content. (Get with the program Jay!)

Learning by teaching

When I do things for myself, I rarely pause and consider how I do the things that I do. I just do them. Writing is one of these things. I just sit down and start banging my thoughts into the keyboard. I occasionally stop and correct, edit, rewrite, but generally what you see here is a straight dump out of my grey matter after I’ve pondered on it for a bit. I have no training in writing though. In college I learned how to design things. Part of that process involved conceptualizing and mental investigation, followed by the verbal definition of the task at hand. That process has become so ingrained into my head that I don’t really even think about the how anymore, I just do. My training was in Graphic Design, but the process is the same for any design discipline, be it Industrial Design, Architecture, Landscape Design, Package Design (my minor study), whatever. My Senior year I was invited – through my participation in the College of Arts & Science’s Honors Program and a friend studying Architecture – to participate in a Graduate Level Seminar in the School of Architecture entitled “The Systems Approach & the Evil of Design.” The professor was a brilliant man, and a master of the Socratic Method. His theory was that no matter how systemic you approach your design goal, at some point you surrender to the intuitive and just go with it. The gut-driven, or as he called it “off-hand” decision may be miniscule, but it will always be there. When I write for business I do my best to approach it systemically, but when I sit down and pursue my own creative whim all my training becomes subconscious. It is still there, as I become conscious of it when I stop banging and start proofing & editing! To me writing therefore is a branch of my design training. So too my Photography. When I am shooting photos my brain is fully engaged and involved in composition, light, shadow, etc. It is hard to verbalize the mental gymnastics that go on though.

Late last week though I found myself in a position to teach rather than do. I found it a fascinating exercise in thought process. Like being in school once again and having to verbalize a process. My son Christopher was writing cover letters for scholarship applications. He asked me for some help. Chris is a smart, capable kid, but this is a task he hasn’t yet tackled in life. He wrote a draft cover letter and sent it to me to look over. It had all the information that it required, it was just… dull. If you think about it a scholarship application cover letter has to include a list of information, as it serves as an introduction to who you are, what you have accomplished, projected goals, and a little begging (“choose me, please!”) In a lot of ways it is like a cover letter of a resume/job application, but the begging is more direct. Chris’ draft was just that, a draft. In reality it was an outline, with the points that had to be covered. I wasn’t going to write it for him, but I offered to serve as advisor and editor.

By the way, this process was largely accomplished through Instant Messaging and email. Chris would pop up in my iChat buddy list, say “Hello” and start a conversation. We’d chat back and forth, he’d email me a draft, and I’d chat him suggestions or email back an edit. Chris is 100+ miles away at college so TCP/IP is the primary carrier of our communications. The only time I reverted to voice was once when I had to express a very complex thought process to himand throw out some examples to illustrate the idea. I don’t type well enough to do that in chat! Chris’ dorm room has very spotty cell phone coverage and he has no landline, so we had to arrange the phone call in IM so that he could walk to another spot on campus where his phone would work better.

In the advisory role I made that call and laid out to him my thought process for writing creatively: conceptualize what you have to say, outline it, then change the perspective before you start writing. In this particular case I said to him “you are basically telling your life story in a couple of paragraphs, so here is what you have to do mentally… imagine you are falling off a high cliff and your life is flashing before your eyes… now DESCRIBE what you see. Discard all the irrelevant bits for the purposes of this scholarship, as the committee won’t need to know about 99% of it, but the description is the vital part.”

Think about your favorite books, movies, photographs, etc. The themes they cover are almost all rather common, it is the perspective that makes them memorable and different. That was the lesson I was trying to convey to Chris. Put yourself in the shoes of your audience. The scholarship committee will read countless letters that all say the same thing:

“Hi I’m so-and-so and I have done this-and-that. I hope to study this-that-and-the-other, and I’d really appreciate your help. Thank you.”

Yawn. In order to stand out from that crowd it will help to rotate the perspective in your cover letter… provide them with the same data, but in a way that is fresh and different. It does not guarantee that they’ll pick you, but it increases your chances, and gets you past the initial culling of the herd.

I’m glad to say that Chris took the lesson well. I was astounded by how he took my small bit of advice and developed a truly compelling letter. I’m not going to reproduce it for you here*, as I don’t want to provide a gazillion college kids with a formula for a great cover letter (sorry kids, Google fooled you when it brought you here!) but I will say I’m a proud father. I’ve always prided myself on my ability to explain things but I never consciously took it that next step and actually taught. Chris was thankfull, and I was happy to help. He was so jazzed that he wrote a couple of more letters and I helped him refine those as well over the next few days. Those efforts were much better in their early stages based on the lessons learned before. He even told me that he’s looking forward to writing his next class-related paper with this new-found knowledge.

In some ways I found that I was giving him something I always wanted, and in fact still want and need: an editor. I really feel like my writing could be so much better if I had somebody to collaborate with in the process. Somebody to read my stuff BEFORE I hit “publish” and refine it that extra step. Somebody who knows wordsmithing more than I do. Any volunteers? 😉

Best of all though it allowed me to connect with Christopher and materially assist him in the process of learning. Being in college, learning is the ENTIRE focus of his life right now. It is very rewarding for me to be a part of that.

*If you know me and you’re dying to read it you can email me and I’ll send you a copy.

Saved by my own advice

On my way into work yesterday I had a close call with The Law. Cruising southbound on I-5 Express Lanes in Seattle near 70th street. The Express Lanes are usually a pretty “safe” spot as they are a place where I have only seen the State Patrol doing speed enforcement work maybe three times in 20+ years. But, following my own advice, I was in the right-hand lane rather than over in the “fast lane” (Number 5) and I was exceeding the speed limit by a margin I’m not willing to admit. Not “autobahn speeds” by any stretch, but certainly faster than the posted limit, and even a bit faster than other cars around me. As the road made a wide right-hand bend my detector (Number 1)went off, and I immediately slowed down(Number 7). WAAAAY over on the left shoulder of the road was a Washington State Trooper, his Crown Vic parked right up against the concrete jersey barrier. He was wedged in the open driver’s side door, pointing his LIDAR device at me. I watched as I slowed down, and he dropped the LIDAR from his eye and looked at me, then looked around at the surrounding traffic, “tagged me” again with his SMD, then looked at me again. I surmise that he was weighing the risk & probability of success of climbing in and pursuing me. As I had already slowed to the posted speed limit, and traffic was pretty thick at the time, I guess he decided to let me go and get back to the low-hanging fruit in the fast lane.

It all happened right about here (don’t bother with Street View) as it does not cover the Express Lanes)

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Thank you Officer… should we ever meet again I’ll buy you a beer. 😉

WSJ Opinion: Bush and Big Government

Nick Gillespie, one of my favorite journalists writes up a summary of the Bush legacy in the Wall Street Journal this past weekend. Here’s a choice quote:

Mr. Bush's legacy is thus a bizarro version of Ronald Reagan's. Reagan entered office declaring that government was not the solution to our problems, it was the problem. Ironically, he demonstrated that government could do some important things right — he helped tame inflation and masterfully drew the Cold War to a nonviolent triumph for the Free World. By contrast, Mr. Bush has massively expanded the government along with the sense that government is incompetent.

The latter is the most important bit. It is more than a sense however, it is the truth. Government’s cure for everything seems to be shoveling mountains of money at problems, rather than actually solving them. First it was taxpayer money. Then it became future taxpayer’s money. My hope for the new administration is that it will stop this practice and start showing some fiscal responsibility.

I’m not holding my breath however.