
I’m reading a book right now called Flash Boys: A Wall Street Revolt.
One of my graduate school buddies recommended it to me on one of our annual ski/snowboard trips and I’m finally getting around to reading it. I’m only about half way through it, but I’m enjoying it so much that I have decided to write about it today.
One of the protagonists in the book is a Toronto-native by the name of Brad Katsuyama. That’s probably one of the reasons I like it – although Michael Lewis makes all Canadians out to be overly polite and well-behaved. Is that what we’re like?
The other reason I like the book is that a lot of it actually has to do with geography. Technology and the internet were supposed to make cities and location irrelevant. But as Flash Boys argues, location and physical connectivity matter a great deal in the world of high-frequency trading. Each millisecond matters.
To illustrate this point, the book starts by describing the construction of a $300 million, 827-mile cable running as straight as humanly possible from Chicago to New Jersey in order to reduce data travel times from 17 to 13 milliseconds. That’s how much the milliseconds matter.
This is also not a topic that I know a lot about and so it’s eye opening (and a bit disappointing) to learn about the sorts of things that happen in our financial markets. If any of you would like to borrow the book after I’m done (and are located in Toronto), leave me a comment below.
This morning I stumbled upon an interesting book by Claudia Kalb called Andy Warhol Was a Hoarder: Inside the Minds of History’s Great Personalities.
I obviously haven’t read it yet, but I like the premise. The book examines 12 famous figures and makes the argument that each of them had some sort of mental health condition that aided them in their success.
Here is an excerpt from a recent Harvard Business Review interview with the author:
“The most common one may be narcissism. Frank Lloyd Wright is a good example. He had classic narcissistic qualities — a sense of grandiosity, superiority, a huge and complete belief in his aesthetic sensibility, and disregard for architecture that did not live up to his standard. Narcissists also have an ability to be charming, and to lure people into their orbit. That’s obviously useful for an entrepreneur. The issue is that while these qualities may make you a good leader, they may not make you a winning boss. Employees often feel that narcissistic bosses are ruthless or lacking in empathy. Also, unlike people with depression or anxiety disorders, narcissists don’t suffer as much personally from their condition — but the way they behave can be much harder on the people around them.”
Related to this topic is an emergent body of research that, more specifically, looks at the relationship between mental illness and entrepreneurship. And according to work done by professor Michael A. Freeman of UC-San Francisco and professor Sheri Johnson of Berkeley, there’s a significant relationship.
Below are two excerpts from a Washington Post article published last year.
“Forty-nine percent of entrepreneurs surveyed reported at least one mental health condition. Nearly a third reported having two or more mental health issues, such as ADHD, bipolar disorder, depression, anxiety or substance use conditions. And half of the entrepreneurs who reported no mental-health conditions identified themselves as coming from families with a history of mental illness.”
Why would these conditions be of any benefit to entrepreneurs?
“For all of its ills, depression also brings empathy and creativity. Martin Luther King Jr. and Mahatma Gandhi attempted suicide as teenagers. Uncommon levels of empathy can allow a businessman to better understand a customer’s need. And a creative mind won’t be satisfied on the corporate ladder, but instead in a fast-moving start-up where he or she can unfurl ideas and dreams.
Individuals with ADHD naturally make decisions faster, are comfortable working independently and are more creative, necessary skills at a start-up. They’re likely to be bored working for someone else.”
From a city building standpoint, all of this is quite relevant. Because for all of the focus on promoting innovation and entrepreneurship, we don’t seem to be talking about healthcare and mental health systems. And there’s clearly an argument to be made that the two are connected.
I just backed this project on Kickstarter.
https://www.kickstarter.com/projects/wmougayar/the-business-blockchain-books/widget/card.html?v=2
I haven’t backed a lot of projects on Kickstarter, but I definitely enjoy the process of discovering a project that I’m interested in and then providing a small, seemingly insignificant, sum of money to help make it a reality.
In this case, it’s a collection of two books by William Mougayar about Bitcoin, blockchains, cryptocurrency, and decentralization.
These are all topics that I’ve touched on before on this blog, albeit with much less rigor than what I’m sure William will be applying to his books. I wrote this post about 2 years ago, when I first started wrapping my head around Bitcoin. And more recently, I wrote posts about how the blockchain could transform home buying and how Honduras is building a decentralized land registry system using the blockchain technology.
So while at first glance it may seem like these books having nothing at all to do with city building and real estate, I am betting that they will over the long term, which is why I am doing my homework today.
Here’s a snippet from William’s Kickstarter page:
“The fundamental characteristics of blockchains are puzzling to consumers, corporations, governments, policy makers and regulators, because their implementation challenges centrally orchestrated trust, and enables a new kind of trust: one that is distributed, decentralized, from peer to peer, and not centrally managed by any single entity. Take any service, and add “without previous center-based authority”, and replace by “peer to peer, trust-based network”, and you will start to imagine the possibilities.”
If all of this isn’t enough to pique your interest, then you should also know that William is from Toronto. Great things come out of this city :)

I’m reading a book right now called Flash Boys: A Wall Street Revolt.
One of my graduate school buddies recommended it to me on one of our annual ski/snowboard trips and I’m finally getting around to reading it. I’m only about half way through it, but I’m enjoying it so much that I have decided to write about it today.
One of the protagonists in the book is a Toronto-native by the name of Brad Katsuyama. That’s probably one of the reasons I like it – although Michael Lewis makes all Canadians out to be overly polite and well-behaved. Is that what we’re like?
The other reason I like the book is that a lot of it actually has to do with geography. Technology and the internet were supposed to make cities and location irrelevant. But as Flash Boys argues, location and physical connectivity matter a great deal in the world of high-frequency trading. Each millisecond matters.
To illustrate this point, the book starts by describing the construction of a $300 million, 827-mile cable running as straight as humanly possible from Chicago to New Jersey in order to reduce data travel times from 17 to 13 milliseconds. That’s how much the milliseconds matter.
This is also not a topic that I know a lot about and so it’s eye opening (and a bit disappointing) to learn about the sorts of things that happen in our financial markets. If any of you would like to borrow the book after I’m done (and are located in Toronto), leave me a comment below.
This morning I stumbled upon an interesting book by Claudia Kalb called Andy Warhol Was a Hoarder: Inside the Minds of History’s Great Personalities.
I obviously haven’t read it yet, but I like the premise. The book examines 12 famous figures and makes the argument that each of them had some sort of mental health condition that aided them in their success.
Here is an excerpt from a recent Harvard Business Review interview with the author:
“The most common one may be narcissism. Frank Lloyd Wright is a good example. He had classic narcissistic qualities — a sense of grandiosity, superiority, a huge and complete belief in his aesthetic sensibility, and disregard for architecture that did not live up to his standard. Narcissists also have an ability to be charming, and to lure people into their orbit. That’s obviously useful for an entrepreneur. The issue is that while these qualities may make you a good leader, they may not make you a winning boss. Employees often feel that narcissistic bosses are ruthless or lacking in empathy. Also, unlike people with depression or anxiety disorders, narcissists don’t suffer as much personally from their condition — but the way they behave can be much harder on the people around them.”
Related to this topic is an emergent body of research that, more specifically, looks at the relationship between mental illness and entrepreneurship. And according to work done by professor Michael A. Freeman of UC-San Francisco and professor Sheri Johnson of Berkeley, there’s a significant relationship.
Below are two excerpts from a Washington Post article published last year.
“Forty-nine percent of entrepreneurs surveyed reported at least one mental health condition. Nearly a third reported having two or more mental health issues, such as ADHD, bipolar disorder, depression, anxiety or substance use conditions. And half of the entrepreneurs who reported no mental-health conditions identified themselves as coming from families with a history of mental illness.”
Why would these conditions be of any benefit to entrepreneurs?
“For all of its ills, depression also brings empathy and creativity. Martin Luther King Jr. and Mahatma Gandhi attempted suicide as teenagers. Uncommon levels of empathy can allow a businessman to better understand a customer’s need. And a creative mind won’t be satisfied on the corporate ladder, but instead in a fast-moving start-up where he or she can unfurl ideas and dreams.
Individuals with ADHD naturally make decisions faster, are comfortable working independently and are more creative, necessary skills at a start-up. They’re likely to be bored working for someone else.”
From a city building standpoint, all of this is quite relevant. Because for all of the focus on promoting innovation and entrepreneurship, we don’t seem to be talking about healthcare and mental health systems. And there’s clearly an argument to be made that the two are connected.
I just backed this project on Kickstarter.
https://www.kickstarter.com/projects/wmougayar/the-business-blockchain-books/widget/card.html?v=2
I haven’t backed a lot of projects on Kickstarter, but I definitely enjoy the process of discovering a project that I’m interested in and then providing a small, seemingly insignificant, sum of money to help make it a reality.
In this case, it’s a collection of two books by William Mougayar about Bitcoin, blockchains, cryptocurrency, and decentralization.
These are all topics that I’ve touched on before on this blog, albeit with much less rigor than what I’m sure William will be applying to his books. I wrote this post about 2 years ago, when I first started wrapping my head around Bitcoin. And more recently, I wrote posts about how the blockchain could transform home buying and how Honduras is building a decentralized land registry system using the blockchain technology.
So while at first glance it may seem like these books having nothing at all to do with city building and real estate, I am betting that they will over the long term, which is why I am doing my homework today.
Here’s a snippet from William’s Kickstarter page:
“The fundamental characteristics of blockchains are puzzling to consumers, corporations, governments, policy makers and regulators, because their implementation challenges centrally orchestrated trust, and enables a new kind of trust: one that is distributed, decentralized, from peer to peer, and not centrally managed by any single entity. Take any service, and add “without previous center-based authority”, and replace by “peer to peer, trust-based network”, and you will start to imagine the possibilities.”
If all of this isn’t enough to pique your interest, then you should also know that William is from Toronto. Great things come out of this city :)
Share Dialog
Share Dialog
Share Dialog
Share Dialog
Share Dialog
Share Dialog