Lessons from Joseph Kennedy - Digital Tool Factory blog

Lessons from Joseph Kennedy

I read the Wikipedia entry on Joseph Kennedy (JFK and Ted’s father) and his business life fascinated me.  Particularly I was struck by the following passage (describing his time in the stock market in the Great Crash) as :

Kennedy survived the crash “because he possessed a passion for facts, a complete lack of sentiment and a marvelous sense of timing.”

The above tendencies are usually descibed as “shrewd”, but it is informative to see the tendencies listed out like that.

The article mentions information monopolies and private intelligence services as well.    Federal regulators call what Kennedy (and others) did insider trading these days but economists call it “asymmetrical information”, i.e. information you have that other people don’t.  In the stock market such information is a regulated good, but everywhere else people call  asymmetrical information an essential part of  sales and marketing.  You (by definition) have more information about your product and customers than your competition and those facts define opportunity.

I see Stronico as a “wetware” application, i.e. a brain helper you can use to organize information in meaningful ways.  By being able to visualize your social network you should be able to see opportunities that you would otherwise not be able to see.  Granted, in Joseph Kennedy’s case it was information on publicly held companies and their stock prices, in the Stronico user’s case it would be the purchasing manager at XYZ Co needs a new water system, but Stronico serves as an informal intelligence system, populated by your day to day experiences.  Time to tweak some marketing…


This post originally appeared on the Stronico blog – with the absorption of Stronico into Digital Tool Factory this post has been moved to the Digital Tool Factory blog


Written By Steve French


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