This week’s book summary is The Four by Scott Galloway.
Although I may not completely agree with Galloway’s perspective in this book, he provides a combination of solid research and cynical humor to paint a picture of how a few companies are reinventing the world as we know it. His detailed study of Amazon, Apple, Facebook, and Google show how these massive companies were formed, the market spaces they created, and the incredible societal and business impacts they have made and are making.
My takeaway from this book is Galloway’s “T Algorithm” which is his definition of the factors needed for a business to rise up and compete against The Four. The eight factors are:
- Product Differentiation – You must have a differentiated product in today’s world.
- Visionary Capital – Your business must have a bold vision that attracts cheap capital.
- Global Reach – The business must have a global reach for bigger numbers and diversity of the market.
- Likability – Image matters and a business must be loved to excel.
- Vertical Integration – The business must control their destiny. They don’t have to own all aspects of the vertical but they must control it.
- AI – To be relevant in today’s business world, you must collect, algorithmically analyze, and leverage consumer data.
- Accelerant – Your business must attract and retain top talent. This is an accelerator!
- Geography – Your business must be in close proximity to world class technical or an engineering teaching university. You must also be located in a progressive city that supports technology based companies and has the economic foundation to support growth.
Note that I have previously reviewed the following books in 2018:
- Tim O’Reilly’s Whats the Future and Why Its Up to Us
- Steven Pressfield’s The War of Art
- Timothy Ferriss’ Tribe of Mentors
- Richard P. Feynman’s Surely You’re Joking Mr. Feynman!
- Bernadette Jiwa’s Hunch
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