The future of contracts in China

Scrap metal traders are finding out that a deal’s a deal in China – until it’s not.   The question is, over the long term, will the Chinese adopt our practices or will we adopt theirs?   I hope for the former.  It’s such a shame when someone is willing to sell their good name for a few dollars, and the small immediate payback will be greatly outweighed by transaction friction for years to come.

Thinking about The Dip

I’m a huge Seth Godin fan, but I had just never gotten around to reading The Dip.  But on the strength of Shoemoney’s recommendation I grabbed a copy, and thoroughly enjoyed it.   To synthesize it in a sentence:

Never quit something with great long term potential just because it’s unpleasant right now.    But be sure it has great long term potential before investing any more energy into it.