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If you’ve started a tech company to make a lot of money, chances are you’re bad at math—or simply delusional. Statistically speaking, your odds of a big-time payday are somewhere between zero and almost zero.
Ninety-two percent of startups fail within three years. Only one percent of apps in the Apple App Store are financially successful. And even for the fortunate few companies that raise venture funding, seventy-five percent will fail to generate a return on investors’ capital.
Why do some companies scale to millions of users while others wallow in obscurity? What explains the runaway success of a company like Facebook while a startup like Viddy, a mobile app for video, attracted millions of users and millions of dollars in financing, only to lose both? read more…
Are we using behavioral design (and ethical manipulation) for good? How do we know? Now that we have the power to profoundly change peoples’ habits through technology, how do change behavior ethically?
Larry Page, CEO of Alphabet (the company formerly known as Google), has a quirky way of deciding which companies he likes. It’s called “The Toothbrush Test.” According to the New York Times, when Page looks at a potential company to acquire, he wants to know if the product is, like a toothbrush, “something you will use once or twice a day.”
Page clearly understands habits. As I wrote in my book, “Hooked: How to Build Habit-Forming Products,” frequently used products form sticky customer habits. But what if your product doesn’t pass Page’s Toothbrush Test? Perhaps you’d like people to use your product or service frequently, but it just doesn’t make sense to do so. read more…
Is the world more distracting? Sometimes it seems that way. With our digital devices buzzing, world events demanding our attention, and more things to entertain us than ever before, it certainly seems harder to focus on what’s really important. And yet, focus is exactly what it takes to get things done and get ahead.Conquer Distractions With This Simple Chart Click To Tweet
Distraction might appear more available than ever, but it is nothing new. Over 2,000 years ago, Socrates and Aristotle debated the nature of “akrasia,” (pronounced uh-crazy-uh), our tendency to act against our better judgement. To the ancient Greeks, mere mortals were prone to distraction due to our weakness of will. Easy for them to say — Socrates and Aristotle never had to resist binge-watching “Game of Thrones.”
In this Golden Age of distraction, what does it take to focus? How do we do what we must so we can have the lives we really want? Instead of blaming our puny attention spans, read more…
Nir’s Note: This Q&A recently appeared on the 15five.com blog and it pulled out some thoughts I’ve been chewing on regarding technology, addiction, and our relationship with the products we use. I’ve edited it slightly and hope you find it interesting.