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The Market Is the Great Equalizer
Barnum’s original museum highlighted the spectacular and unbelievable marvels of the world. Unfortunately, none of these rarities was real.
His original museum relied on poor quality replicas of mermaids and other mythical phenomena, which were not appealing to consumers. But the lack of customers drives Barnum to go in search of real, and rare, human acts.
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The entrepreneurial spirit is one of dedication and resilience.
A highbrow, snooty, and prominent theatre critic attends one of Barnum’s performances and writes a particularly nasty review. He dubs Barnum’s act a “circus”–which, at the time meant “a public scene of frenetic and n...
... is a tribute to the resilience and power of the entrepreneurial spirit.
It is a story of society’s outcasts finding success through unconventional means.
Barnum is a lowly servant with big dreams working in a wealthy household. He gets a glimpse of the life he could live if he were to rise above his circumstances.
Barnum did not obsess over his daydreams but through hard work made his dream a reality.
MORE LIKE THIS
Wonder is said to be a childish emotion. However, as adults, we experience it when gaping at something unexpectedly spectacular.
Adam Smith, an 18th-century moral philosopher, describes wonder as something new and singular that is presented, and memory cannot find any image that nearly res...
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published 6 ideas
- Passion. Passion cannot survive without a path.
- Path. This is your plan for getting there, at the pace you set.
- Positivity. No success is possible without cultivating an optimistic perspective.
- People. Without the power of people around you...
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Survivorship bias is a logical error that twists our understanding of the world and leads to a wrong understanding of cause and effect.
We fall into survivorship bias when we assume that success stories tell the entire story of a product/business, while we don't properly consider past fail...
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