Steve Martin’s early bit on how to be a millionaire and not pay taxes was goofy, but simple: "First, get a million dollars. Then when the IRS comes and asks why you didn’t pay taxes, repeat these two words: ‘I forgot.’" Nowadays, everyone is trying to figure out how to make money off the Internet. YouTube got paid 1.6 Billion by Google. How does this make sense? Or, even if it doesn’t: how can I do the same thing?
I’ve been wondering about this a lot, but then I came across this great blog post by Andy Kessler, which thoroughly explains the new media world. Here’s his ridiculously simple advice:
to be a Mogul? Think out all the free services never thought possible
without lots of broadband and pieces you can pick and choose from to
build it and you are on the right track.
familiar? It’s good advice, but I’m not sure how valuable it really
is. Still, I have to say that Andy Kessler’s blog post is a
‘must-read.’ Definitely chock-full of value.
By the way, I’m also reading his excellent book, The End of Medicine: How Silicon Valley (and Naked Mice) Will Reboot Your Doctor,
which explains the economics of the $1.8 Trillion dollar medical
industry. Kessler seeks the answer to a provocative question: how will
the force of technological development revolutionize medicine? Not
surprisingly, he doesn’t focus exclusively on the wizardry of
technology, examining also the counter-vailing forces of political
bureacracy and insurance-industry venality. Here are some things I
learned by reading the book:
- 70% of health care spending goes to treat chronic disease
- 5% of Medicare patients (the most ill) account for 47% of Medicare expense
I also learned that I don’t really want to eat snowpeas anymore.