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My three favourite Buffett & Munger quotes.

Posted on May 21, 2012January 30, 2024 by Stephan Uhrenbacher

I am a regular visitor to the Berkshire Hathaway Annual Shareholder Meeting in Omaha, Nebraska. I don‘t go there because I hope that something  magic rubs off, but because it is a lesson in sanity and clarity in thinking.  I have now more than my fair share of Buffett or Munger quotes that I can instantly pull out of my memory and I wanted to share three of the less known ones that have helped me with my own thinking.

  1. If it ain‘t worth doing, it ain‘t worth doing well“ 
    is Charlie Mungers way of saying that it is not worth going after too small opportunities.
  2.  „I am a better businessman because I‘m an investor, and I am a better investor because I‘m also a business man“ 
    has become a confirmation of my choice of profession.
  3. „I‘d rather pass on a fantastic opportunity, than lose one night‘s sleep over it“
    – this one has helped me save more money than any book on investing.
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Entrepreneurial Fads

Posted on May 21, 2012February 2, 2024 by Stephan Uhrenbacher

It is surprising how quickly entrepreneurs tune into the latest trends. As a group, we seem to do no better than other humans in our judgement. Remember “Second life”, or the now gone “beta” era? Here is a personal collection of fads that I grow tired of.

  1. Everything in the cloud.
    Fact is: I travel a lot. Whether it is on the train, on the plane, or any time I spend in other European countries: More often than not, I don‘t have high speed internet connection. So good bye, Google docs. Goodbye Apple mail. The success of dropbox, and in part evernote can be attributed to their ability to bridge offline times with great syncing.
  2. Co-working.
    As much as I like the idea of sharing (the relative success of 9flats is owed in part to the idea): Coworking does not work in my view. We tried with avocadostore. It was just plain stressful for people to be in a large and changing office environment. In my view, humans need consistency. They need their place, their space, their quiet zones. Coworking usually does not provide this.
  3. Open floor plan.
    Nearly every startup has it. The open floor plan office, with people not even in cubicles, but in rows of desks. Even the CEO – except: did you realise, the CEO never actually sits at his desk? He spends time in meeting rooms, where he can speak to people in private. I have worked in startups where the coffee shop nearby got rich by offering an anonymous setting for a private chat.
  4. Always on.
    Facebook, skype, twitter, whatsapp, email. We all know about the addiction this generates. We check every minute whether something important is being sent their way. Which seems to be an acknowledgement our their very existence. I have recently been partially successful in weaning myself off my mobile gadgets. The result? People start to wonder why I missed their emails for a private get together on a weekend.
  5. Social where there is no social.
    Some transactions benefit tremendously from social media. Others don‘t. I‘m not sure what why a detergent needs „likes“ in order to work.

All these things are great, and they work sometimes. But more often they do not.
Closed doors allow me to be more open with people. Sitting at my own desk makes me more comfortable. Sometimes social media is just a waste of money. Taking my work with me for and switch off my web connection often results in precious and productive solitude.

What are your favourite fads?

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It’s not about who you know…

Posted on February 16, 2010January 30, 2024 by Stephan Uhrenbacher

I admit to be totally biased as I am naturally a big fan of the power of reviews. However, I need to highlight this little feature in the new Qype personal page called ‘Insider Tips’. It does not show me the reviews of my friends, but it shows me places that are liked by people who like similar stuff I do. I really have no idea how they do it – too remote for that – but the results are truly amazing for me. Every time I reload this, I see places I always thought might be cool, but have not checked out yet.

Two rather philosophical thoughts come to my mind.

  • One is the one I mentioned in the headline: It is not who you know. It is what people like who behave like you also like. Amazon has done this in an amazing quality. “People who bought this also bought…” I am very proud that Qype is proving to be able to do this as well. By the way this also contradicts the tradional power of your social graph.
  • The second thought: What we thought initially when we launched Qype in 2006, that the person who shares her views gets something back, is now being executed on in a material way.

Check it out.

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Qype’s European footprint

Posted on October 9, 2009January 30, 2024 by Stephan Uhrenbacher

When I founded Qype more than four years ago, I always dreamed that this should be a Pan-European business, not just a German one. I remember vividly how hard it was, particularly in the UK, to get early traction. Since then, we have launched in a total of 8 countries.

Today, the Qype team surprised me with a visualisation of what we have achieved.

Europe-in-Reviews

Particularly the South of England, the Baleares, Isle de France and coastal regions are shining as brightly with reviewed businesses as the most densely populated areas of Germany.

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Nearly forgotten: Turboprop planes

Posted on October 9, 2007January 30, 2024 by Stephan Uhrenbacher

Even the smallest regional commuter planes now come as jet. I recently had the pleasure to fly with a Dash 8 Q300. Did you know that the fuel consumption per passenger kilometer is considerably lower than on a comparable jet plane?

Also, as these planes cruise at a lower altitude, I assume that the additional effect of emissions at high altitude will be lower.

Propeller planes have two disadvantages: Their maximum speed is only about 500 km/hr as opposed to 900 km/hr for jets. However, for anything under a distance of 1,5 hrs this amounts to only about 10% more travel time. The other disadvantage is the higher level of cabin noise. Guess what: with the latest in Noise cancelling headphones, this does not matter.

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  • My three favourite Buffett & Munger quotes.
  • Entrepreneurial Fads
  • It’s not about who you know…
  • Qype’s European footprint
  • Nearly forgotten: Turboprop planes

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