Crayola’s Dominance Of The Art Supply Market

An underrated parenting technique is to have your child make a self-deprecating joke in response to light teasing. Nothing triggers the impulse to make fun of someone quite like discovering that the person is unable to take a joke. The hope is that, when the child is grown, he will become someone capable of taking his work seriously, but not necessarily himself seriously.

What happens if self serious carries the day over self deprecation? You get Anish Kapoor, the British artist and sculptor who is best known for creating the Bean sculpture in Chicago’s Millennium Park. Kapoor doesn’t like it when you call it the Bean, instead preferring you that you use the appointed name Cloud Gate (though, after seeing the unpopularity of this position, reversed his position and said, “I call it the Bean, too”).

Less well known is that Kapoor entered an exclusive licensing agreement with Surrey NanoSystems Read the rest of this article!

Another July 1st, Another Million Dollars For Bobby Bonilla

bobbybonilla

Thought you had a good day, today? Probably not as good as Bobby Bonilla.

On January 3rd, 2000, the New York Mets bought out the final year of Bobby Bonilla’s $5.9 million salary with the team.

The terms of the agreement? Every July 1st for 25 years (from 2011 through 2036), the New York Mets organization has to pay Bobby Bonilla $1,193,248.20 (and as an aside, this money counts towards the team’s payroll).

For Bobby Bonilla, that was a brilliant execution of delayed gratification principles.

Think about that. In 2036, Bobby Bonilla will be collecting $1.19 million for a decision he made in 2000. That, my friends, is how you structure an intelligent financial life. It is all about making decisions today in such a way that you take good care of your future self that comes along five, ten, fifteen years from now.

Although most of … Read the rest of this article!