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RAOUL PAL: Bitcoin Is Worth $1,000,000 by Julia La Roche- Business Insider

Posted in Uncategorized, tagged , , , on November 11, 2014| Leave a Comment »

 

RAOUL PAL: Bitcoin Is Worth $1,000,000

Raoul PalReal Vision Television Raoul Pal

“I did some analysis a while ago,” Raoul Pal said. “[It] was to try and create a valuation framework that gives some value to bitcoin because nobody really knows that it’s worth.”

Pal, a former global macro fund manager and current author of the Global Macro Investor newsletter, is talking about the bizarre digital cryptocurrency that saw its value surge north of $1,200 a year ago.

“So I said OK well let’s assume it’s something like gold—There’s a finite amount of it,” Pal said in an interview with Grant Williams on Real Vision Television. “There’s a finite amount that’s been mined. The rest is underground. We kind of know how long it’s going to take before all the gold is mined or before all the bitcoins. Put them in the same kind of equation we get a value of bitcoin and that value is a million dollars. Now, you’ll never hear an analyst say this—but I don’t mind this—I could be wrong by 90%, and it’s still worth $100,000.”

At the time of the interview, bitcoin was trading around $650. Right now, it’s at around $364.

Bitcoin chartCoin DeskHere’s how bitcoin has traded since July 2010.

One concern people have about bitcoin is the volatility in price swings. Pal said the volatility is fine. He thinks that the upside is “astronomical” compared to the downside.

Right now, bitcoin is still in its infancy and it’s not going to go away because of the amount of people behind it.

Pal expects central banks will have to regulate bitcoin over time, but that’s not a problem.

“What they can’t do is destroy it and that’s why bitcoin becomes incredibly interesting,” he said.

Even though he has a high valuation, Pal doesn’t recommend that people put their entire life savings in bitcoin. He suggested treating it like an option contract.

Buying bitcoin is something Pal strongly believes in, especially because he thinks we are at risk of losing faith in money. He worries about the consequences of central banks are printing too much of it. There’s an unfavorable perception that they’re “rigging” the system by keeping rates low and buying the bond market.

His suggestion is to avoid the bond market.

Pal also thinks that people should be careful about how they own their gold. Because of the proliferation of derivatives and ETFs, gold is just the collateral to a highly-leveraged “monster.” He thinks that it’s best to buy physically unencumbered gold instead of paper gold.

Watch the full Real Vision Television interview below:

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7 Habits From Navy SEALs That Will Make You More Successful- by Brent Gleeson – Business Insider –

Posted in Uncategorized, tagged , , on November 5, 2014| Leave a Comment »

 

7 Habits From Navy SEALs That Will Make You More Successful

BRENT GLEESON, Inc.
navy seals

Flickr/Official U.S. Navy Page

Chief Special Warfare Operator (SEAL) Brad Woodard salutes as he jumps from an aircraft during parachute training.

I learned my best habits — and made some of my most dangerous mistakes — as a Navy SEAL.Once, when our platoon was preparing for a mission at one of our shooting ranges in Iraq, I had failed to reload one of my pistol mags after the previous night’s operation.

Our point man, the best-selling author of No Easy Day (under the pseudonym Mark Owen), discovered my mistake. To this day, I still think about the look of disappointment on his face.

The experience drove home the importance of good habits. The term habit generally has a negative connotation, but if you form the right habits that drive you toward success, you can’t lose. To be an effective team member, people usually need to break old habits and develop new ones by letting selfishness fall by the wayside. The SEAL community forces you to break habits that don’t positively contribute to mission success. If you can’t make that happen, you’re done.

I’ve gotten these habits right, and I’ve gotten them wrong. But those mistakes of yesterday have forged me into a better leader and team member today. If you want to be part of an elite team and are going to shed old habits, make sure to keep these!

  1. Be loyal. Team loyalty in the corporate environment seems to be a dying philosophy. Loyalty to the team starts at the top. If it’s lacking at the senior executive level, how can anyone else in the organization embrace it? Loyalty is about leading by example, providing your team unconditional support, and never throwing a team member under the bus.
  2. Put others before yourself. Get up every day and ask yourself what you will do to add value to your team, such as simply offering your assistance with a project. The challenge is overcoming the fear that your team member might say: “Yes, I really need your help with this project…tonight.”
  3. Be reflective. Reflective people often spend too much time analyzing their actions. But imagine if you could harness this talent into something highly valuable? Reflecting on your mistakes, such as mine in Iraq, ensures you never repeat them.
  4. Be obsessively organized. Some of us innately have this ability, often to a fault, and some have to work at it a bit more. You have to find a process that works for you. I’ve known people who will put something on their to-do list after they did it and then cross it off to feel a greater sense of accomplishment! Whatever your system is, make it work for you.
  5. Assume you don’t know enough. Because you don’t. Any effective team member understands that training is never complete. It’s true in the SEAL teams, and it’s true in any elite team. Those who assume they know everything should be eliminated. Those who spend time inside and outside of the workplace developing their knowledge and skills will provide the momentum for their team’s forward progress.
  6. Be detail-oriented. Attention to detail is one of our company’s values. Do we get it right all the time? Of course not. Imagine, though, if all members of a team are obsessed with detail in their delivery? My lack of attention to detail in the incident in Iraq could have had catastrophic results. Don’t ask yourself what you are going to do today to be successful; ask how you are going to do it.
  7. Never get comfortable. Always push yourself outside of your comfort zone. If you do this continually with every task you take on, that boundary will continue to widen. This process will ensure that you are continually maximizing your potential, which will positively impact your team.

You may be wondering how you could ever have a relaxed life if you maintain all of these habits. But that’s the beauty of it. If you enjoy what you do and form good habits, it all becomes second nature. Maintain these habits, and encourage your team members to do the same.

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5 Mistakes Every Startup Should Avoid – by Desk.com – Business Insider

Posted in Uncategorized, tagged , , on October 21, 2014| Leave a Comment »

5 Mistakes Every Startup Should Avoid

Dead end signAaron Kim via FlickrKeep your company moving by avoiding these common mistakes.

This post is sponsored by Desk.com.

It’s not enough to have a trailblazing business idea anymore. Between 80% and 90% of startups fail, according to several studies. Even ones that seem destined for success — those that have millions in funding and are backed by passionate entrepreneurs — can still collapse.

While startups fail for all sorts of reasons, there are five reasons that pop up over and over, including a lack of direction and an ineffective marketing strategy. If you’re starting your own company, avoid these five common startup mistakes at all costs.

1. Lack of direction.

It’s great to hire talented, excited, and ambitious people for your startup — after all, company culture is very important — but you also need to have people with experience who can guide your company toward long-term success. Sprinkle in a few seasoned employees who understand the nuances of growing a business from the ground up.

2. The wrong technology.

Some startups fail to understand their target audience and how they use technology. For instance, if you’re creating an online source for retirees, then you have to recognize they would most likely prefer talking to a person instead of, say, text messaging or video conferencing. You can still add those features, but always take your audiences’ tech habits into consideration when creating a product or service.

3. Putting all your eggs in one basket.

Does your startup have tunnel vision? Many startups fail because they take an all-or-nothing approach, therefore alienating potential investors, when they should be willing to adapt and diversify. If you have one great product that is bound to sell, ensure there will be more happening down the road.

4. Not having the right goals from the start.

Go big or go home, but don’t go too big or it could all come crashing down. You don’t want to expand too quickly, but you don’t want to move at a snail’s pace either. Make sure your business is growing steadily by planning where you would like it to be a month, year, and even five years from now. Constantly revisit and update your business plan as things change, and gather feedback as you go.

5. Failing at marketing.

The hard truth is that no one will buy from you if they don’t know who you are. Marketing — that is, direct-mail campaigns, search-engine optimization, blogging, and so forth — should be a key part of your startup from day one. Every successful startup needs to integrate marketing into its budget, and if you want to outsource it to an outside marketing company, make sure you go with an established one.

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Which iPhone Should You Buy? – by Jay Yarow – Business Insider

Posted in Uncategorized, tagged , , on September 11, 2014| Leave a Comment »

Which iPhone Should You Buy?

phil schiller iphone models

AP

The complete iPhone line.

In the past, buying an iPhone was as easy as walking into the store, grabbing the newest model, and going on your way. Not this year.

For the first time in Apple’s history, it has a genuinely diverse iPhone line. It is selling an iPhone 5C, 5S, 6, and 6 Plus. And all four phones are very good.

This means consumers in the market for an iPhone have a tough decision to make when it comes to which phone to purchase.

Since preorders start Friday, I decided to put together this guide to help anyone in the market for a new phone.

Before digging into the current phones, let’s talk about you. How rich are you? If money is no object, then you can skip the following section and just read about the iPhone 6 and the iPhone 6 Plus. If money is an object, then read on.

WHAT PHONE DO YOU HAVE RIGHT NOW?

iphone 5 broken

Flickr/MSVG

If your phone looks like this, then upgrade.

Do you have an iPhone 4S or earlier? If the answer is yes, then you should definitely get a new iPhone.

If you have an iPhone 5 or iPhone 5S, and the phone is in good condition, you may not need to upgrade. The iPhone 5S is an excellent phone. The only drawback is that it has a smaller screen. If a bigger screen is really important to you, then you should upgrade. But if you’re happy with the 5S, then you should hold out for another year. Next year’s iPhone 6S will be better than the iPhone 6.

If you have an iPhone 5 and you’re on a contract and you’re eligible for an upgrade, then you should probably get a new phone. You can sell your iPhone 5 on Craigslist, or eBay, for ~$200, which effectively makes the cost of upgrading $0.

If you’re not on a contract, then it’s a bit more complicated. The iPhone 5 is a good phone that should still be working fine. If you don’t yearn for a bigger screen, then you can probably squeeze another year out of the phone. (And, again, next year’s iPhone is going to be better.)

What if you — gasp — have an Android phone? Apple CEO Tim Cook says you’ll have “a better life” if you get an iPhone. That’s a bit strong, but you will get a better selection of apps. A friend of mine who owns an Android phone was pestering me over Labor Day to write a story about how Android owners don’t get new features for apps until long after iPhone owners.

I like the iPhone and iOS better than Android. But, it’s a matter of taste. If you’re happy with Android, then stick with it. If you hate Android, then now is a good time to bail since Apple has bigger phones with better features.

With that out of the way, let’s explore the iPhone options. One thing to note: I have not used these phones. I have used every iPhone design since it was released and they’ve all been pretty good. I have tested all sorts of Android phones at various screen sizes, so I have a good idea about what you’ll be getting from Apple.

SHOULD YOU BUY THE IPHONE 6 PLUS?

iphone 6

Steve Kovach/Business Insider

The iPhone 6 Plus is the most expensive phone in the lineup. The entry level model is $299 on a two-year contract.

It’s also the biggest with a 5.5-inch screen. It has the highest-resolution screen too. Apple is using the large screen to offer unique software options, like a keyboard that has dedicated keys for copy and paste and new display options for content. It also has a bigger battery and slightly longer battery life than other iPhones.

The iPhone 6 Plus is the phone I plan to buy. A few years ago I got a Samsung Note II at a Samsung event. It has a 5.5-inch screen. At first, I was inclined to dismiss the phone as too big and goofy. But the more I used it, the more I fell in love with the big screen.

If you’re the sort of person who lives on your phone, then you should get the iPhone 6 Plus. I use my phone from the time I get up to the time I go to bed. I check email and Twitter on it constantly. I do a lot of reading on my phone. My iPhone is a minicomputer and so I want a big screen. I have an iPad Mini, and I think I’m going to sell the iPad Mini and go all in on the big iPhone.

When you hold the phone to your head to make a call you might look funny, but so what? How many calls do you really make? I use headphones half the time I make calls, so this isn’t that big of a deal.

Two other concerns people have about the big phone: Is it too big for my hands, and is too big for my pockets? Let’s tackle those in reverse order.

The phone fits in your pocket, no problem. Because this is Apple, the phone is thinner than thin, so it won’t be too bulky. However, it is going to be a bit large. Personally, my phone is often out of my pockets. If I’m at work, I have it on my desk. If I am on the train, I am holding it and using it. If I am in a car, I use it for maps and directions. If I am at home on the couch, I usually have it out to surf the web while watching TV. If this sounds like you, then it’s no biggie. But if you keep your phone in your pocket all the time, it might be a problem. My colleague Steve Kovach tested the iPhone 6 Plus at the Apple event on Tuesday and said it fit in his jeans pocket perfectly.

As for hand size … that could be a problem! There is no question that a bigger phone is going to be harder to maneuver. If you’re really worried about this, go to the Apple Store when the phones are out and try picking up the 6 Plus. If it’s too much it’s too much. I’m over 6 feet tall, and, I guess, have hands that correspond with that size. I don’t think the bigger phone is much of a problem. Sometimes it will be clunky, but life is a series of trade-offs, I think it’s the bigger screen is worth it.

Both new iPhones also have a special one-handed mode that pops the top portion of the screen down so you can reach it with your thumb. You just lightly tap the home button twice to do it:

Bottom line: Buy the iPhone 6 Plus if you live on your phone. It’s a great size, and it’s better than owning a tablet. Don’t buy it if you have small hands, and you don’t live and die with your iPhone.

SHOULD YOU BUY THE IPHONE 6?

iphone 6

Steve Kovach/Business Insider

The iPhone 6 has a 4.7-inch screen, which is probably the best screen size for most people. It’s not too big and it’s not too small. The entry-level iPhone 6 costs $199 with a two-year contract. If you’re due for an upgrade and you want the next model iPhone, this is probably the phone you should buy.

The iPhone 6 has a new A8 chip, which Apple says is faster than last year’s A7 chip. It has an M8 chip, which tracks your motion to keep track of steps. It also has a barometer, so it can tell how high you’ve gone, counting the stairs you’ve climbed. The camera is also upgraded, likely making it the best smartphone camera on the market. (Of course, all of this is on the iPhone 6 Plus, too.)

There are two reasons to go with the iPhone 6 over the 6 Plus — price and screen size. If you want to save a little money and you don’t want the bigger screen, then this is the phone for you.

The only other difference between the 6 or 6 Plus besides screen size is the camera. The iPhone 6 Plus camera has better video stabilization than the iPhone 6. It’s a minor feature that most people won’t really notice or care about, but probably something you should know if you plan to shoot a lot of video.

Bottom line: The iPhone 6 is the replacement for the iPhone 5S. If you just want the latest greatest iPhone with no compromises, this is the phone for you. Don’t buy it if you want a giant screen or if you like the current size of the iPhone.

SHOULD YOU BUY THE IPHONE 5S?

What if you don’t want a really big screen? What if you like the current 4-inch screen? You’re in luck.

Apple will be selling the iPhone 5S for $99 with a two-year contract. The iPhone 5S is a great phone. Unlike in year’s past, it doesn’t feel like the 5S is significantly worse than the phone that’s replacing it. The 5S has a fingerprint scanner and a motion tracker, just like the iPhone 6. The iPhone 6 is slightly faster, and its motion tracker is slightly better, but it doesn’t seem like it’s that big of a deal. The camera on the iPhone 6 is slightly better, but not significantly so.

If you don’t want a big screen and you’d like to save some money, the iPhone 5S is the phone for you. It’s a really good phone, and if you use a 5S for the next two to three years, you won’t be let down.

Bottom line: Buy the iPhone 5S if you don’t want a big screen. Don’t buy it if you do want the big screen.

SHOULD YOU BUY THE IPHONE 5C?

iPhone 5C back

Steve Kovach/Business Insider

The iPhone 5C is a very good entry-level phone. It has a 4-inch screen. It doesn’t have any of the bells and whistles of the other models. If you are on a limited budget, you want a small screen, and you like colors, this is the phone for you. It’s $0 with a two-year contract, and it works pretty well.

The risk is that it’s going to be obsolete in a few years. If you plan to have the phone for the next two to three years, then it’s worth paying $100 to $200 for a better phone. If you don’t use your phone much, or your just want a hold over for a year or two, then get the 5C. In yellow. Be bold!

Bottom line: If you don’t have much money, or don’t care about screen sizes, or you don’t care about the latest features, get this one.

WHAT COLOR AND WHAT LEVEL OF STORAGE?

apple iPhone tim cook

Apple/Screenshot

By now, you’ve decided which phone is for you.

What color should you get? It’s up to you really. But if you want me to make a decision for you, here’s my advice:

  • iPhone 6 Plus in black/space grey
  • iPhone 6 in white/silver
  • 5S in white/gold
  • iPhone 5C in yellow

As for storage, I recommend getting the midtier, which is 64 GB for the 6 and 6 Plus. If you’re getting a 5S or a 5C, then that’s 32 GB. These things are great for taking photos and video. Unfortunately, that stuff takes up a lot of storage space, so it’s worth paying the extra $100 to get the space.

If you have questions, ask in the comments and I’ll do my best to answer them.

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All The Pieces Are In Place For Apple To Change The Way We Shop by Sam Colt – Business Insider

Posted in Uncategorized, tagged , , , on September 7, 2014| Leave a Comment »

All The Pieces Are In Place For Apple To Change The Way We Shop

buying ipod apple store

Chris Hondros/Getty Images

Cash is so old school.

On September 9, Apple is expected to unveil a new iPhone as well as a smartwatch.But just as significant — if not moreso — is the payment platform they are expected to announce. After years of speculation, Apple seems ready to finally tackle mobile payments, turning the iPhone into a wallet.

This isn’t the first time tech companies have tried to take over your wallet. Google Wallet, which lets you pay for stuff with an Android phone, has failed to reach critical mass since its launch in 2011.

Square, once heralded as “Silicon Valley’s Next Great Company”, isn’t the ubiquitous payment startup many thought it would be.

And Isis, a mobile payments system backed by U.S. wireless carriers, is almost nonexistent. (It was just rebranded to Softcard to distance itself from the terrorist group.)

Because of these bumps, the notion of using your phone in lieu of a credit card is foreign to most consumers.

Mobile Payments Usage

Jackdaw Research

Mobile payments are still niche — for now.

Apple’s is about to change that. Here’s why.

Timing

Apple has a reputation for quality, but it’s rarely the first to enter a new product category.

“When Google launched [Google Wallet] they thought they could do it by force of will,” said Vibes CTO John Haro in an interview with Business Insider.

Vibes is a mobile marketing tech company that works with retailers to create loyalty cards and tickets for Google Wallet as well as Apple’s Passbook app.

Creating a successful payment platform is often seen as a chicken-and-egg problem.

In order to galvanize consumer adoption, companies need their virtual wallet to work in a wide range or retailers and merchants. But those merchants won’t adopt new technology unless they see it catching on with their customers.

For Apple, this has meant sitting on the sidelines and waiting for merchants to upgrade their point of sale (POS) terminals. When Google Wallet launched in 2011, retailers still had relatively outdated credit card readers. They could swipe your card and let you input a PIN, but that’s about it. But more and more retailers are upgrading their POS terminals to include Near Field Communication (NFC), the technology that lets two devices communicate just by tapping them together.

“I think Apple has waited and many POS systems have been upgraded to support NFC,” said Haro.

NFC will almost certainly be integrated in Apple’s new iPhones and the new wearable computing device, according to several reports. On Thursday, The Wall Street Journal reported that the so-called iWatch will have NFC. Wired, Re/code, and others have reported that the iPhone 6 will have NFC too. That technology will be a huge part of Apple’s push into mobile payments.

Apple hasn’t put all of its eggs in the NFC basket. Haro expects Apple’s payment platform to use a combination of NFC, Bluetooth, and iBeacon technology so that consumers can use their smartphones for purchases at a wide range of stores.

Duane Reade iBeacon Locations

Google Maps

These NYC Duane Reade stores have been ready for mobile payments since May.

iBeacons let iOS devices communicate and transmit information within a certain distance of each other. Apple hasn’t done much with this yet, but it has the potential for different interactions depending on how close you are to the next iBeacon.

What’s more, iPads are increasingly becoming POS terminals themselves. Since iPads can act as iBeacons, they will automatically be ready for seamless purchases once the platform is up and running.

This brings us to the second reason Apple’s platform is going to blow up.

Partnerships

This week Apple was rumored to be bringing its payment platform to Nordstrom, a luxury retailer worth over $13 billion.

9 to 5 Mac’s Mark Gurman has reported that Apple talked with “retail store chains” about coming on board with its payment platform. He doesn’t name names — in order to protect his sources — but expect to hear about a partnership with the likes of Starbucks or Nike sometime next week.

It’s not just about retailers either.

On Thursday we learned that Apple has been negotiating with big banks — JP Morgan, Citigroup, and others — to secure discounted credit card transaction fees. This is a big step for Apple. It convinced financial institutions of its platform’s security.

Apple has also brought the major cardholders on board. VISA, American Express, and Mastercard have all agreed to work with the “iWallet” so to speak.

Retailers? Check. Card holders? Check. Banks? Check check check.

Plus, Apple already has the largest credit card database in the world — some 800 million accounts — on file and ready to go through iTunes.

Apple’s timing and partnerships alone would probably be enough to create a hit product. But there’s one more piece to the puzzle.

Security

Touch ID Usage

BII

Touch ID is popular with iPhone 5S users.

When Apple released the iPhone 5S last September, it debuted Touch ID, a fingerprint sensor that takes the place of your lock screen passcode. This single feature is the linchpin of Apple’s payment security strategy.

“All of your payment information will be stored on the [phone] in such a way that even developers won’t have access to your payment info,” said Haro, referring to what insiders call a “secure enclave” for your virtual wallet.

Touch ID won’t be the only thing keeping your money safe, either.

GPS tracking will act as an additional layer of protection for your hard-earned cash.

“There’s a lot of interest out there for consumers to lighten their wallet,” said Haro. “Even if you’re not using [Apple’s system], I think people will become aware that this exists.”

It could even be more secure than a regular credit card. If you lose your wallet or someone steals it, a thief is free to swipe away with your credit cards. But if you lose your iPhone or someone steals it, a thief is out of luck unless he manages to steal your finger too.

In short, while others have tried and failed to make mobile payments go mainstream, Apple appears to have put all the pieces in place to make sure it’s ready to go at a massive scale from day one.

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