What You Need to Know Today: August 24

Good afternoon, Early Risers!

Here’s what you need to know

TECH

Screenshot 2015-08-24 10.43.49

Words to live by, kids. 27-year old rapper Wiz Khalifa was arrested on Saturday at the Los Angeles Airport for refusing to dismount a hoverboard #FutureProblems. Wiz’s arrest was NBD, but “will serve to heighten the excitement for hovering,” says CNET. If you’re looking for a DIY project this week, here’s how to build a hoverboard from everyday household items.

“The first six hires you make are more important than hires 100 through 105. The first difficult ethical decision you make is more important than the one you make once you’ve (apparently) made it.

“…the notion that ideals and principles are for later, but right now, all the focus and resources have to be put into the emergency of getting successful—it doesn’t work,” says Seth Godin about The Interim Strategy.

Spotify founder and CEO, Daniel Ek, faced a difficult ethical decision following the company’s new privacy policy released on Wednesday. Here’s how Ek handled the situation.

+ How to save $6,415 on the best startup tools and resources online.

CAREER

What you can learn from bad leaders. “Quixote is hardly a good model for leadership, but he provides a basis for thinking about what justifies great action. Why do we do what we do? Our standard answer is that we do what we do because we expect it to lead to good consequences. Quixote reminds us that there is another possible answer…” Taking fast action is a shared trait among many successful entrepreneurs.  James March, narrator of the film, Passion and Discipline: Don Quixote’s Lessons for Leadership, explains one dimension we don’t normally consider when we’re taking action. This is a must-read transcript for leaders.

“Don’t bunt. Aim out of the ball park. Aim for the company of immortals.” – David Ogilvy. British department store John Lewis hit a home run with its latest home insurance advert. “The advert is heart-warming and features an iconic song, but most importantly it reminds viewers that John Lewis Home Insurance can offer peace of mind, allowing them to enjoy family life — knowing that they have protection in place, they can simply let life happen,” says Margaret Burke head of marketing at John Lewis. Take 2 minutes and study this short ad.

Guess how much YOU are worth to these tech giants? “It’s the age of internet tech businesses, and they are making tons of money. And what better way to look at that dollar amount than your worth to the company?” asks HowMuch.net. Customer lifetime value is a metric every business owner needs to know, but most don’t know how to calculate correctly. This is how much YOU are worth to tech giants like Facebook, Amazon, LinkedIn…

+The right way to calculate customer lifetime value for your small business.

LIFESTYLE

Try this at work today. A new study finds staring into someone’s eyes for ten minutes can have LSD-like hallucinogenic effects. Two Quartz co-workers replicated the study’s experiment in a closet and this is what happened.

Are you a Slackavist? Older social activists are calling out millennials saying their approach to social activism is “lazy” (see: ALS Ice Bucket Challenge videos). Are millennials lazy or just innovative? Forbes explores this question. I think a bit of both. A better solution is to follow this advice and leverage new technology to reach the masses with our solutions. Just know you can’t reach a solution, if you’re constantly distracted… What do you think? send a reply to support@etrhelp.com.

#NOWYOUKNOW

Wiz Khalifa willingly left Warner Bros

Most artists would kill to get a record deal, but Khalifa was happy to walk away from his when he couldn’t see eye to eye with Warner Bros. after ‘Say Yeah.’ He never put out a full album with the label and went the indie route for another year, turning down an offer to join Rick Ross’ Maybach Music Group, before Atlantic signed him in the summer of 2010. ‘Rolling Papers’ became his major-label debut in March 2011 and reached No. 2, behind only Britney Spears’ ‘Femme Fatale.’

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