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Good morning to all new and old readers! Here is your Wednesday edition of Faster Than Normal, exploring one short story about a person, a company, a high-performance tool, a trend I’m watching closely, and curated media to help you build businesses, wealth, and the most important asset of all: yourself. 

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Today’s edition:

Cheers,
Alex

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Stories of Excellence

Person: Stephen Wolfram

In the quiet intensity of a late-night coding session, a teenage Stephen Wolfram made a decision: to advance computational science in ways previously unimagined. Fast-forward decades, and Wolfram has not only conceptualized but also executed on this vision, creating the computational tool Wolfram Alpha, a backbone for critical technology applications including Apple's Siri. "One can build a whole civilization of software," he once reflected, underscoring his relentless pursuit of knowledge fusion—where computation meets every aspect of life. Through Wolfram Research and his work on computational theory, Wolfram continues to shape our digital and scientific frontiers, proving that the tools we build to understand the universe are as limitless as our ambition.

Key Lessons from Stephen Wolfram:

• On curiosity: "I think the most important thing is to be curious and to ask questions."

• On thinking differently: "I've always been interested in finding new ways to think about things."

Read more.

Company: Panda Express

Panda Express, the largest Asian-segment restaurant chain in the United States, was founded in 1983 by Chinese-American entrepreneurs Andrew and Peggy Cherng. The couple, who met at Baker University, opened their first sit-down restaurant, Panda Inn, in Pasadena, California in 1973. A decade later, they launched Panda Express, a fast-food version of their restaurant, in the Glendale Galleria mall food court. Peggy's background in software engineering helped computerize the company's operations early on, giving them a competitive edge. Today, with over 2,200 locations worldwide and $3 billion in revenue, Panda Express has become an iconic American brand known for its American Chinese cuisine.

Key Lessons from Panda Express:

• On customer acquisition: The Cherngs strategically located their first Panda Express in a mall food court, tapping into a high-traffic area to attract customers

• On internal culture: "A company is built on people first, guests second, and financials third," says Peggy Cherng, emphasizing the importance of a strong company culture

• On customer insight: The Cherngs adapted their menu to appeal to American tastes, introducing popular dishes like Orange Chicken and Beijing Beef

Read More.

Learn Faster. Get Smarter.

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Accelerants

High-performance tool

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The Four Quadrants of Conformism

The "Four Quadrants of Conformism" is a conceptual framework developed by Paul Graham, known for his essays and as a co-founder of Y Combinator. It categorizes people based on their level of conformity and independence. As Graham states, "I'm biased, I admit, but it seems to me that aggressively conventional-minded people are responsible for a disproportionate amount of the trouble in the world."

The essence of the framework is captured in Graham's observation: "To be a successful scientist, for example, it's not enough just to be right. You have to be right when everyone else is wrong"

It makes sense — it aligns with observable human behavior. Conformists maintain societal norms — they're the "tattletales" and "sheep." Independents challenge norms — the "dreamy ones" and "naughty ones."

Conformists are vital for social cohesion, but taken too far, they stifle progress. Independents drive innovation but can be disruptive. An ideal balance is needed. As Graham notes, "societies prosper only to the extent that they have customs for keeping the conventional-minded at bay."

Which quadrant do you fall into? Are you too conformist, stifling your creativity? Too independent, struggling to collaborate? Companies also need a mix — conformists for processes, independents for breakthroughs. As Peter Thiel said, "I will fire you if you try to fit in."

But he still needs some conformists. Finding the balance is key.

A trend I’m watching

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The "silver tsunami" refers to the huge wave of baby boomers set to pass on trillions in wealth to younger generations in the coming years. Around 74 million boomers in the US alone are poised to transfer an estimated $30-40 trillion to their Gen X and millennial heirs by 2045. This unprecedented generational wealth transfer will reshape the economy as inheritors put their newfound riches to work in innovative ways.

Some exciting business opportunities that could ride this silver tsunami wave:

• Wealth transfer management platforms to help boomers and heirs navigate the complexities of inheritance planning, taxes, and wealth management.

• Luxury products and experiences catering to newly wealthy heirs looking to enjoy the "good life". Think high-end travel, real estate, vehicles, etc. Brands like Rolls-Royce and Ritz-Carlton are well positioned.

• Impact investing and philanthropy services to help inheritors align their wealth with their values and make a positive difference. Firms like Align Impact are leading the way.

• Longevity and health optimization services to help aging boomers live longer, healthier lives so they can enjoy their golden years. Companies like Elysium Health and Alkahest are innovating in this area.

The silver tsunami will unleash enormous economic potential as a new generation of wealthy consumers and investors puts their inheritance to work in the market.

(Read More).

Tactical reads

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> When you need to reward talent
Rewarding Talent Handbook (Read it here)

> When searching for a contrarian bet
How To Identify The Consensus In Any Market (Read it here)

> When you need to problem solve
Eigenquestions: The art of framing problems (Read it here)

> When thinking about longevity
Japan Offers Lessons in Longevity (Read it here)

> When defining wealth
What does it mean to be wealthy? (Read it here)

1 question

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.

Recommendation Zone

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If you’re interested in more trends and business ideas, check out Capital Ideas—Faster Than Normal’s paid sister publication (Subscribe with one click).

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