The Wright Exit Strategy

This is a great antidote to The Millionaire Next Door. If you recall, Millionaire Next Door is about how wealthy people got that way by clipping coupons and not spending money. The study was flawed with all sorts of the kind of errors described in Fooled by Randomness. However, even more distasteful to me was all these people with millions of dollars who spent their lives staying home, clipping coupons, and not actually doing anything with their money like travelling, enjoying hobbies, or doing anything for the greater society. In fact, most of them answered the question, "What is your favorite charity?" with the answer, "Myself."

OK, enough about the Millionaire Next Door. The Wright Exit Strategy reverses the question by asking you what your goals in life are. If you could have any calendar you want, and could fill it only with stuff you enjoyed doing, how would you fill it? From there, Wright gets into the details of how to hire the correct estate planning agent, how uncomplicated financial strategy actually is, and how to get over the barriers to being able to do what you truly want to do, whether it's the fear of selling your family business, or selling your highly appreciated company stock, or actually starting to give money away.

Note the the book does not at all describe how you should get that wealthy. Presumably, you do that with a combination of luck and business saavy. Naturally, most of the concerns he has (like dodging capital gains taxes or estate planning) really only apply to the ultra-rich (well above the $3 million you actually need to get a $100,000 a year income), but in any case, if you're the kind of person who's described by The Millionaire Next Door, you need to read this book so you can get a life and do what you really want to do.

There's a poignant story in this book about a successful condominium developer who had already made $20 million and was now having an aggravating time getting new real estate developed because everyone was getting on his case (environmentalists, etc, etc). After talking to him, Wright pointed out that this guy was really into it for the thrill of the hunt, but had never considered that he could get his thrills any other way, despite the ulcers and other bodily pain he was suffering from his job. Unfortunately, the guy died of a heart attack before Wright's advice could do any good. Read this book, Mr. Millionaire, and take notes!

(Though I'm fond of saying: Wealth is wasted on the wealthy!)

Castle Waiting

The best of the recent graphic novels I've read. It's a whimsical fairy tale, filled with references to your nursery rhyme stories, including the 3 little pigs, the goose that lay the golden egg, amongst others. Entertaining. Vol. 1 hasn't provided much by way of plot yet, but this volume has as much promise as the early issues of Bone.

A Distant Soil

Colleen Doran started this comic when she was 13, and it shows. Now, Daniel Keys Moran started his novel series when he was 13 as well, but his characters are compelling, and his plots exciting. But Doran applied no form of filtering whatsoever to her work. The characters don't develop well, and the plot is barely comprehensible. Despite that, she won numerous awards for her work. Why? Because she was one of the leading wave of independent publishers, and probably the only woman in the field who has had any form of success.

Oh, and she draws really well. Her layouts are very pretty, and I enjoy looking at her pictures. Definitely worth my time to borrow the next two volumes from the library.

Batman: Child of Dreams

Kia Asamiya draws a Batman manga. It's not very good. Of course, he couldn't resist putting in a cute Japanese girl, but more importantly, the guy just can't draw a good Bruce Wayne. I don't normally look at guys, but isn't Bruce Wayne supposed to be a good looking guy?

Not recommended.

Which D&D Character Are You?

I Am A: Lawful Good Halfling Bard


Alignment:
Lawful Good characters are the epitome of all that is just and good. They believe in order and governments that work for the benefit of all, and generally do not mind doing direct work to further their beliefs.


Race:
Halflings are short and fat, like minuature people. (Think 'Hobbits') They enjoy the easy life, but aren't averse to the idea of an adventure from time to time. They get along with all races, and are known for their senses of humor. Halflings also tend to be light of foot, and can move quietly when necessary.


Primary Class:
Bards are the entertainers. They sing, dance, and play instruments to make other people happy, and, frequently, make money. They also tend to dabble in magic a bit.


Secondary Class:
Monks are strange and generally not understood by the world at large. They live apart from people, and follow strict codes that restrain their behavior and lifestyle. They have an exceptionally calm outlook on life, and generally do not resort to violence unless absolutely necessary. Even when they do, their code of conduct forbids the use of all weapons - except their hands. As such, monks are extremely skilled at hand-to-hand combat, and no other style.


Deity:
Avoreen is the Lawful Good halfling god of war, defense, and vigilance. He is also known as the Defender and the Vigilant Guardian. Followers of Avoreen are devoted to the defense of the halfling race, and spend their days drilling and preparing other halflings for the defense of their homes, if necessary. Their preferred weapon is the short sword. Avoreen's symbol is a pair of crossed short swords.


Find out What D&D Character Are You?, courtesy ofNeppyMan (e-mail)

Constantine

OK, I guess I might as well do mini movie reviews too. The best thing about the advance of Computer Graphics is that comic-book movies are now visually stunning. The worst thing is that they can't make actors better. Keenau Reeves isn't a great actor to portray John Constantine (since Constantine in the comics looks exactly like Sting), on the other hand, I didn't feel like he ruined the entire movie.

It's a good watch, especially for someone getting over an sore throat and a bad cold. All that coughing Reeves does reminds you that you're likely to get well.

Hanging out with the Dream King: Interviews with Neil Gaiman and his collaborators

Halfway through this book I realized that I didn't really like Neil Gaiman that much as a writer. His Sandman series was excellent, and probably the most brilliant of his work, followed by a few good short novellas such as Stardust.

I found his stint on Miracleman after Alan Moore took over to be less than stellar, and he hasn't done any other comic books since.

But his novels? Good Omens left me cold, as did American Gods. Neverwhere was OK, but not ground breaking.

My conclusion is that Gaiman had a brilliant creative spurt in his career and Sandman, which spawned the Goth movement amongst other things, is definitely an outstanding achievement (though I still consider Gaiman's work a pale shadow of what Alan Moore is capable of --- and Moore is still creatively involved in comic books and shows no sign of his talent slacking off), but his novels sell only because he's made a name for himself in comics. Sure, he's better than a lot of the other dreck out there, but that doesn't say much, since Sturgeon's law applies in novels as easily as it does in Comics. The difference is that Gaiman is probably in the top 5% in comics while he's at most in the top 20% in novels.

The nature of the business, though is that novels are a lot more lucrative (and require less collaboration) than comics, so we're unlikely to see Gaiman work on any more comics, which is a pity.

Astonishing X-Men: Gifted

Joss Wheldon writes the X-men. It's a decent start, but not a mind blowing entry the way Alan Moore was. Joss brings out the "high school" part of the X-men quite well, but makes a few elementary comic book mistakes (like having dialog spread over a page turn, a definite no-no) that I wouldn't expect from someone as smart as he is.

Will wait for the next installment to show up at the library before reading.

Republicans are Evil Part II

Howard Dean, chairman of the DNC, sends an email:

Hurricane Katrina: How to Help: […] Many stayed behind and suffered devastating loss and injuries — nearly a hundred have died that we know of, and hundreds of thousands need our help. America is at its best when we realize that we are one community — that we’re all in this together. That means that each one of us has the responsibility to do what we can to help the relief effort. The Red Cross is a great place to start

We are still learning the full story of the devastation, but there is no time to wait. Please do something now.


Ken Mehlman, chairman of the RNC, sends an email:

When they return from their August recess, Senators will consider a key issue: elimination of the death tax.

Will you help bring tax relief to more hard-working Americans? Call Senator Voinovich today and ask them to eliminate the death tax.


Clearly George Bush and Paris Hilton are both hard-working Americans.

Time up Old La Honda Road: 24:55

According to the Western Wheelers Ride Rating System, that's barely enough to qualify me as an "E" rider, but when I ride with the "Ds", I'm barely keeping up with the front group, which tells you the kind of grade deflation that's been happening in the Western Wheelers.

For your reference, Lisa & I did this 2 years ago and came in at 31 minutes on the tandem, a solid "C" pace, but on hilly rides, the same thing happens --- we barely keep up with the group.

What a great trip

When the New York Times travel section does a story about biking, it's usually by folks who charter a tour, and have someone else carry their lugguage somewhere through Europe. Clearly, this is an exception and an amazing one. They carried their own lugguage, and were on a tandem. Their experience parallels the experience Lisa & I had in South Africa in 2001, though we did ours over less rugged terrain.

Chain replacement

My chain is worn out already on my commute bike. It took one and a half hours to remove the cranks, clean the chainrings, take a part the rear deraileurs and clean the pulleys (extremely yucky --- does anyone know why hair gets into the pulleys?), the front deraileur (the least icky part of the job), and the cogs. And then I went and put my new wheel on it just so I could make sure that I'd built it right (I did). I'll put a couple of commutes on it and then go back to my old wheel.

Mavic MA-3 rims suck. After just 2 rainy seasons of riding the eyelets are already rusted causing the click-click-click sound. (I know it's the wheel because the new wheel does not make the sound) I'm tempted to replace the rim.

The difference between Liberals and Conservative

And I'll add my own bit: Liberals believe that a society as a whole should be judged by how it treats the worst-off (unluckiest, etc) in it. Conservatives believe that a societ as a whole should be judged by the best-off (luckiest, etc) in it. Liberals believe that estate taxes are a fair and equitable way of funding government, while conservatives believe that George Bush and Paris Hilton are deserving of their wealth because they clearly did a better job of choosing their parents than most people.

Paul Graham makes republican mistake #1

The problem with wealthy entrepreneurs who got lucky is that they attribute their success and wealth to their skill, intelligence and risk taking ability, while a lot of their wealth actually comes from luck. But because they can't admit that (since that would be an admission that they do not deserve their wealth), they have to come up with justifications as to why the universe made them a multi-millionaire.

The problem with Paul's thesis is that I can think of many many ways you can reduce inequality without reducing risk-taking behavior. Here's an example: supposed you provide universal healthcare. A large proportion of U.S. bankruptcies are driven by medical bills due to lack of health insurance. Suddenly, anyone who wanted to start a business can do so without losing their healthcare. I'd argue that more people would start businesses and take more risks than a national policy where your healthcare is tied to your job, effectively locking you to that job if you don't have a lot of money and have one or more pre-existing conditions.

There's an obvious place to tax people if you truly believe Paul's thesis (which I don't buy into --- I've seen too many folks luck into wealth to think that wealth is in any form "deserved" by most people who make that kind of money): inter-generational transfers. In other words, we should tax inheritances heavily and severely. But of course, the Republicans we see in congress are the ones most enthusiastic about eliminating the estate tax.

Flight Vol 2

Not nearly as good as the first one, mostly because the large number of artists/writers contributing such disjoint visions brings into focus how the graphic strip art form needs many more pages to provide character and narrative. Nevertheless, there are a few good pieces: The Robot and the Sparrow, Jake Parker, Destiny Xpress Jen Wang, The Orange Grove, Kazu Kibuishi, Dust on the Shelves, Banniester, The Flying Bride, Giuseppe Ferrario.

Once again, I don't feel like I want to own this book, but I'm glad I did see read it once. If the really good artists here start producing their own books, it might be worth following up on them.

A tough ride

Went on a Western Wheelers ride today. Everyone was scary fast! Sure, it's the end of the summer, so folks are as fit as they're going to be, but I'd just done a Tour of the Alps not that long ago, and it's scary how much fitter everyone else was. Of course, I could use the excuse that I planned my peak for that tour, but seriously, I'm a recreational rider. I don't peak.

I did meet someone I rode with 13 years ago, when I first started riding with the Western Wheelers, but before I dropped out. It was funny when I first said, "oh we rode together 10 years ago", she interrupted and said, "No, it's longer than that. It was 6 boyfriends ago." Thinking back upon it, I'd had 6 jobs (well, 2 at the same company) since then as well, so it's nice to know that some people switch boyfriends as often as I switch jobs.

Anyway, I'm now incredibly exhausted, despite having only ridden 72 miles with 7500' of climb. As they say, it's not the distance or the climb, it's the pace --- we did it all in 6 hours, and that's including stops!

Dealers of Lightning, Michael Hiltzik

Xerox's Palo Alto Research Center (PARC) invented the concepts that went into the modern computer that we use today. Mice, icon based bitmapped displays, WYSIWIG word processors, ethernet, file servers, object-oriented programming, and the laser printer. Yet Xerox did not make money from any of these inventions except the laser printer, and even then fumbled it by introducing it too late. This book is an indictment of Xerox's corporate culture, its short-sighted executives, and is the perfect illustration of my thesis that a technology company (or any company affected by technology) that is not mature must be run by engineers for it to be successful beyond the short term. Of course, that's not the only factor. Everything else also has to be done right (marketing, sales, etc), but if the key executives do not have the vision to pursue technological break-throughs and turn them into product, you might as well not bother funding an R&D lab.

Xerox's top executives were for the most part salesmen of copy machines. From these leased behemoths the revenue stream was as tangible as the "click" of the meters counting of copies, for which the customer paid Xerox so many cents per page (and from which Xerox paid its salespersons their commissions). Noticing their eyes narrow, Ellenby could almost hear them thinking: "If there is no paper to be copies, where's the `click'?" In other words: "How will I get paid?"

Google driving up the cost of Silicon Valley talent?

Google, Mr. Hoffman said, has caused "across the board a 25 to 50 percent salary inflation for engineers in Silicon Valley" - or at least those in a position to weigh competing offers. A sought-after computer programmer can now expect to make more than $150,000 a year.

I think most people have it wrong: software engineering talent has been too cheap for too long. Today, to entice someone to study software engineering, you would have to offer sufficient incentive to:

1. overcome the fear that 4-6 years studying computer science would be rewarded by all the good jobs going to India
   
2. medical school and law school all have potentially higher rewards, and are also more highly regarded professions (with also a more balanced male/female ratio)
   
3. the fact that winner-takes-all is even more prevalent in computer science than anywhere else
   
4. the average career of a Silicon Valley engineer is around 7 years, shorter than that of many pro atheletes!
   

Given all those disadvantages, the question should be why there are smart, talented, hardworking folks in software engineering at all. Well, the answer is typically that there is a chance for a big pay-off, if you work for the right company! The rising incomes of top Silicon Valley engineers needs to reflect that when all is said and done, Google is the only software company I've worked for in the last 10 years that can be said to have been almost completely engineering driven. That means that a similar offer from Google would be preferred by the discerning, intelligent software engineer than an equivalent offer from anywhere else. The following quote from the same article highlights the similarities to Microsoft in the 1990s:

Bill Gates certainly sees similarities between Google and his own company. This spring, in an interview with Fortune, Mr. Gates, Microsoft's chairman, said that Google was "more like us than anyone else we have ever competed with."

I will note that Microsoft was also in many ways, managed by smart engineers more than its competitors (like Borland, Lotus, IBM, Apple, or Netscape). They had more technical people in the upper ranks than their competitors, and perhaps that is why they had an edge --- the deep understanding of technology is important when technology is the battleground. Companies that pick non-technical CEOs too early in their lifecycle risk stunting their future growth.

Thoughts about the Canon 5D

With a full frame sensor and nearly 13 megapixel, this is the first digital SLR that I will consider dumping my film cameras for. Previous SLRs were either too expensive, have the nasty tiny sensor, not compatible with my EOS lenses, or were too heavy. (Or a combination of the above) At $3300, it's still expensive, but Moore's law will get it to about $2000 in 18 months, so that's probably the point at which the case for switching over to digital entirely becomes compelling.

The 24-105/4L, however, is almost certainly a must have. When the price drops a bit next year, I will definitely buy one and ditch my long loved 24-85.

Lacing a new rear wheel