This edition is brought to you by Athyna

Good morning to all new and old readers! Here is your Wednesday edition of Faster Than Normal, exploring the stories, ideas, and frameworks of the world’s most prolific people and companies—and how you can apply them to build businesses, wealth, and the most important asset of all: yourself. 

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Today’s edition:

Cheers,

Alex

P.S. Send me feedback on how we can improve. I respond to every email.

People

Estee Lauder

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From the kitchen of her Queens, New York home, Estée Lauder hand-mixed her first batch of skin cream. This humble beginning laid the foundation for what would become a global cosmetics empire. With her unmatched tenacity and a knack for personal selling, Lauder turned her passion into Estée Lauder Companies, a beacon in the beauty industry with products sold in over 150 countries. “I have never worked a day in my life without selling. If I believe in something, I sell it, and I sell it hard,” she once said. Estée's approach was not just about selling products but selling a dream of beauty and elegance that resonated deeply with consumers worldwide. Lauder’s legacy is a masterclass in building and sustaining a brand that transcends generations. (Estée Lauder)

Jensen Huang

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In a Silicon Valley startup cluttered with ambitions and circuit boards, Jensen Huang began writing his chapter in the tech playbook. Launching Nvidia in 1993, he pivoted from perfecting gaming graphics to leading the charge in AI processing with a clear-cut strategy. "It's not about the money. It's about the people you have, and how you're led," Huang emphasizes, capturing the essence of his leadership. His approach has not just shaped Nvidia but has also set a benchmark in leadership dynamics within the tech industry. (Jensen Huang)

Companies

Ferrari

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Ferrari's allure isn't just about speed; it's a narrative of exclusivity, heritage, and an unwavering commitment to the art of driving. The Prancing Horse emblem is more than a brand; it's a symbol of Italian craftsmanship and a lineage of racing dominance that began with Enzo Ferrari's vision in 1929. "We sell dreams, we sell engines, we sell luxury and lifestyle," remarked John Elkann, Chairman of Ferrari, capturing the essence of a marque that transcends the automotive industry to embody a lifestyle. (Ferrari).

Subway

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Subway's journey from a modest $1,000 investment to a global fast-food giant encapsulates the essence of entrepreneurial spirit and strategic franchising. Founded in 1965 by Fred DeLuca and financed by Peter Buck, Subway began as Pete's Super Submarines in Bridgeport, Connecticut. The brand's evolution was marked by a pivotal decision in 1974 to franchise, a move that propelled it to international fame and a staggering presence in over 100 countries with more than 37,000 outlets. "Subway continues to thrive on its foundational strategy of cost leadership and differentiation, which keeps it competitive in the aggressive fast-food market," notes a business analyst. This strategy not only underscores Subway's commitment to affordable, customizable meals but also highlights its adaptability in a constantly changing market landscape. (Subway).

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Accelerants

High-performance tool

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Domain Dependence

What you master in one domain (area) is difficult to transfer to another.

“In theory, there is no difference between theory and practice, but in practice there is.”
—Yogi Berra

Expand your areas of learning and don’t become trapped by single domains.

A trend I’m watching

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Space is getting crowded. Fast. The number of satellites and spacecraft launched into orbit has exploded in recent years - over 1,000 in the first half of 2022 alone, more than the first 52 years of the Space Age combined. 

What's driving this? Plummeting launch costs thanks to reusable rockets from SpaceX and others. Miniaturization allowing cheaper, faster production of small satellites. Huge demand for space-based services like broadband internet, earth imaging, and asset tracking.

The space economy hit $546 billion in 2022 and is projected to surge another 41% by 2027. While billionaires chase flashy visions of space tourism and Mars colonies, the real opportunity lies in the "invisible" infrastructure and services enabling this new space race. As one expert put it, "During the Gold Rush in California it was rare for miners to get rich, but the people selling pickaxes, Levi's, and mules had a good chance to make a fortune." Smart companies that can supply the "picks and shovels" - satellite components, data analytics, space traffic management systems - stand to win big as space opens for business. (Read more).

Tactical reads

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> When you need to measure the moat
Michael Maoboussin on assessing the magnitude and sustainability of value creation (Read it here)

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> When you're bootstrapping a company
How Zapier built a $5b business with only $1.3m raised (Read it here)

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> When you need to make good decisions
Coinbase, one of the biggest crypto exchange's executive decision making template (Read it here)

Recommended

Media

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> Khosla Ventures Plausible tomorrows: 2035-2049. 

> A Dozen Things I’ve Learned About Investing from Daniel Kahneman. 

> How Square taught me to be an entrepreneur. 

> ​Leadership that gets results by Daniel Goleman. 

> Smart Words From Smart People.

2I1Q

That’s all for today, folks. As always, please give me your feedback. Which section is your favourite? What do you want to see more or less of? Other suggestions? Please let me know.

Have a wonderful rest of week, all.

Cheers,

Recommendation Zone

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Why Faster Than Normal? Our mission is to be a friend to the ambitious, a mentor to the becoming, and a partner to the bold. We achieve this by sharing the stories, ideas, and frameworks of the world's most prolific people and companies—and how you can apply them to build businesses, wealth, and the most important asset of all: yourself.

Faster Than Normal is a ‘state' of being’ rather than an outcome. Outlier performance requires continuous, compounded improvement. We’re your partner on this journey.

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