Welcome to Muhr's Must Reads!

I focus on relevant business & finance articles while frequently drifting to topics such as sports, art, technology and more! MMR was created because I'm passionate about sharing what I find interesting.

MMR remains free and takes many hours a month to compile, and thousands of dollars a year to sustain. If you find value in what I do, please consider becoming a Supporter with a recurring monthly donation of your choosing, between a cup of coffee and a dinner.

The defense industry and silicon valley have had a long history in tandem – there is even a lot of evidence that defense spawned the technology industry there. Whatever the case, an interesting parallel that popped into my head while reading this article. That thought was about the creation of the OSS (Office of Strategic Services) during WWII that preceded the CIA. While traditionally technologies were developed for military use first, could there be a new era of consumer-/industrial-driven advances being applied to warfare? Rather than the target customer for technology companies, the DoD is now more of a(n) sub-sector/afterthought due to companies focusing on problems that affect the mass population – and the military is tough to do business with for many reasons. While DARPA focuses on challenges that are 20-30 years out, the new task is to find challenges that need fixing which are much more immediate.

This is obviously a super-long read but I find it fascinating. We’re living through a truly unique time in the history of finance with all the extraordinary experimentation going on via central banking. There is no good way to sum up the essay but I think that this quote is pretty on-the-money: “History shows us that economic recovery from a depression has never been successfully engineered without a major debt reduction, default, hyperinflation, political revolution, or world war.” Now that is a pretty wide statement of possibilities, but I think that currently the mentality of the market is that – at least for the Fed – central banks have “beaten” the recession. The essay really is about volatility rallying for any of the stated reasons. I think it’s a pretty good bet vol is relatively cheap compared to all the “shadow convexity” that exists with these multi-dimensional risks playing out in real-time.

I’m a huge fan of Charlie Munger and the “mental-model” school of thinking. That’s why when I read this article it was just another confirmation that if you can find certain patterns in nature, they can be applied across a variety of disciplines. Here’s a good quote: “...the same basic species-area curve was found regardless of the species or habitat. To put it mathematically, the curve followed a power law, in which the change in species number increased proportionally to the square root of the square root of the area. ... Power laws are common in science, and are the defining feature of universality in physics.”

Nautilus - How Information Got Re-Invented 30min

He was, she remembered, preoccupied with the math problems he worked over in the evenings, and he was prone to writing down stray equations on napkins at restaurants in the middle of meals. He had few strong opinions about the war or politics, but many about this or that jazz musician. ... Oliver, Pierce, and Shannon—a genius clique, each secure enough in his own intellect to find comfort in the company of the others. They shared a fascination with the emerging field of digital communication and co-wrote a key paper explaining its advantages in accuracy and reliability. ... Partly, it seems, the distance between Shannon and his colleagues was a matter of sheer processing speed. ... Shannon’s response to colleagues who could not keep pace was simply to forget about them. ... George Henry Lewes once observed that “genius is rarely able to give an account of its own processes.” This seems to have been true of Shannon, who could neither explain himself to others, nor cared to. In his work life, he preferred solitude and kept his professional associations to a minimum. ... Shannon wouldn’t have been the first genius with an inward-looking temperament, but even among the brains of Bell Labs, he was a man apart. ... It was Shannon who made the final synthesis, who defined the concept of information and effectively solved the problem of noise. It was Shannon who was credited with gathering the threads into a new science. But he had important predecessors at Bell Labs, two engineers who had shaped his thinking since he discovered their work as an undergraduate at the University of Michigan, who were the first to consider how information might be put on a scientific footing, and whom Shannon’s landmark paper singled out as pioneers.

Forbes - Gaming The System: How A Traditional Manufacturer Opened Its Books And Turned Employees Into Millionaires 11min

There are three basic conditions if you want to work for Jack Stack, and they go for everybody from senior executives down to the people who clean his company's bathrooms. The first is you have to learn how to read and understand the company's financials, the second is you really have to believe there is no "I" in "team," and the third is you have to get into the habit of asking, "What could go wrong, and what are we going to do when it does?" ... Over the years, SRC has evolved into a highly entrepreneurial miniconglomerate that has launched more than 60 companies in industries ranging from banking to medical devices to furniture. It has also developed an unusual culture--a humane, Midwestern blend of quantitative management, radical transparency and practical paranoia--that has made it the flagship of what's known as the open-book-management movement.

Wired - An Oral History Of The DARPA Grand Challenge, The Grueling Robot Race That Launched The Self-Driving Car 10min

On March 13, 2004, a gaggle of engineers and a few thousand spectators congregated outside a California dive bar to watch 15 self-driving cars speed across the Mojave Desert in the first-ever Darpa Grand Challenge. (That’s the Defense Advanced Research Projects Agency, the Pentagon’s skunkworks arm.) Before the start of the race, which marked the first big push toward a fully autonomous vehicle, the grounds surrounding the bar teemed with sweaty, stressed, sleep-deprived geeks, desperately tinkering with their motley assortment of driver­less Frankencars: SUVs, dune buggies, monster trucks, even a motorcycle. After the race, they left behind a vehicular graveyard littered with smashed fence posts, messes of barbed wire, and at least one empty fire extinguisher. ... What happened in between—the rush out of the starter gate, the switchbacks across the rocky terrain, the many, many crashes—didn’t just hint at the possibilities and potential limitations of autonomous vehicles that auto and tech companies are facing and that consumers will experience in the coming years as driverless vehicles swarm the roads. It created the self-­driving community as we know it today, the men and women in too-big polo shirts who would go on to dominate an automotive revolution.

MIT Technology Review - A Different Story from the Middle East: Entrepreneurs Building an Arab Tech Economy 10min

Of course, the challenges in the region remain very real, among them poverty, war, and the breakdown of political and economic institutions. Israel has a well-established technology sector, but in the Arab Middle East—outside the United Arab Emirates and its leading economic center, Dubai—the legal and regulatory system is at best cumbersome to navigate, and more often unpredictable and inconsistent. Historic political disputes and security concerns are issues as well. Educational infrastructure, despite relatively heavy spending, is not adequate for developing a 21st-century workforce. ... Yet something encouraging is happening. Everywhere in Dubai, young people gather, checking their smart devices. ... The vast majority of the city’s three million residents, including a new generation of young Arab entrepreneurs, were born elsewhere. And they are selling to a wired generation across the Middle East. In nearly every country in the region today, more than half of the population is under 30

The New Yorker - How Driscoll's Reinvented The Strawberry 19min

In some Asian markets, white fruit is coveted, and Driscoll’s has conducted commercial trials in Hong Kong. But although the company has been breeding whites for fifteen years, it has yet to introduce any to U.S. grocery stores; Americans, accustomed to an aggressive cold chain, typically fear underripe fruit. “I brought these to a wedding, and all the parents were telling their kids not to eat the white ones,” a Joy Maker remarked. Lately, however, Driscoll’s focus groups have shown that millennials, adventurous and open-minded in their eating habits, and easily seduced by novelty, may embrace pale berries. With these consumers, unburdened by preconceived notions of what a white berry should look or taste like, Driscoll’s has a priceless opportunity: the definitional power that comes with first contact. Before that can happen, though, the berries must conform to Driscoll’s aesthetic standards. Stewart held a 21AA176 up to his face and inspected it carefully. ... Driscoll’s, a fourth-generation family business, says that it controls roughly a third of the six-billion-dollar U.S. berry market, including sixty per cent of organic strawberries, forty-six per cent of blackberries, fourteen per cent of blueberries, and just about every raspberry you don’t pick yourself. ... Produce is war, and it is won by having something beautiful-looking to sell at Costco when the competition has only cat-faced uglies. In the eighties, beset by takeover ambitions from Chiquita, Del Monte, and Dole, Driscoll’s embarked on a new vision: all four berries, all year round. ... For the shopper, the only impression that matters is the Driscoll’s name, and the red berries, as uniform as soldiers or paper valentines.

The Verge - The Docx Games: Three Days At The Microsoft Office World Championships 12min

16th Microsoft Office Specialist (MOS) World Championship, in which teens and young 20-somethings compete for the title of World Champion in their chosen professional application. It's an event put on annually by Certiport, a Utah-based subsidiary of standardized testing giant Pearson VUE. It's also a marketing stunt, pure and simple, devised to promote Certiport’s line of Microsoft Office certifications. This allows the certified to confirm the line on their resume that claims “proficiency in MS Office” is backed up by some solid knowledge of deep formatting and presentation design. ... Ayman Ben Souira (16, competing in Word), from a small town outside of Marrakech, Morocco, had never left his country before but spoke English and some anime Japanese ... The certifications only came into being at the turn of the century, a year before the MOS competition began. They have slowly grown in popularity as school districts across the US adopted more STEM-focused curricula, including practical courses in how to use the humdrum IT that undergirds our global economy.