Jean-Charles Samuelian-Werve
Co-founder & CEO @ Alan
7 avr 2020Jean-Charles' Newsletters

Jean-Charles' newsletter: n°14


Chaque semaine, je partage quelques articles que j’ai trouvés particulièrement enrichissants. J’espère qu’ils vous aideront autant qu’ils m’ont aidé.

Newsletter 14

Certains articles sont en français, la plupart sont en anglais (je copie certaines citations en anglais). Ils ne sont pas tous récents et vont au rythme de mes lectures.

Si vous aimez, vous pouvez vous inscrire, partager (par email ou le blogpost) ou encore me suivre sur Twitter.

Bonne lecture !

📱Monde des technologies

👉Zoom est passé de 10m à 200m d’utilisateurs quotidiens en quelques semaines et est maintenant sous tous les radars (The Verge, The Stratechery) :

  • La sécurité est remise en cause par de très nombreuses sources
  • Les pires côtées du web se sont emparés de Zoom avec du “Zoom bombing” : arriver sur un call, et montrer des choses obscènes
  • Des articles sortent sur l’utilisateur du Facebook log-in et la réponse initiale de Zoom a été catastrophique pour une boîte ‘enterprise” (“on ne savait pas”)
  • La deuxième réponse du CEO sur le blog est bien meilleure : 90 jours concentrés seulement sur sécurité et privacy (Zoom Blog)
  • L’exemple de Zoom est aussi excellent dans le monde des start-ups, on peut innover et gagner dans des secteurs où les géants sont déjà : “ce produit existe déjà, Google le fait déjà, …”

💪 Développement personnel

👉Sur l’importance et la difficulté de faire des prévisions non-consensuelles (Howard Marks) :

  • Potentially-profitable non-consensus forecasts are very hard to believe and act on for the simple reason that they are so far from conventional wisdom. If a forecast was totally logical and easily accepted, then it would be the consensus forecast (and its profit potential would be much less).
  • In poker, “scared money never wins”. In investing, it’s hard to hold fast to an improbable, non-consensus forecast and do the right thing...especially if the clock is telling you the forecast is off base. As I was told years ago, “being too far ahead of your time is indistinguishable from being wrong.”

👉Être sceptique et les crises (ce qu’on a appris en 2008) (Howard Marks) :

  • During the crisis, lots of bad things seemed possible, but that didn’t mean they were going to happen. In times of crisis, people fail to make that distinction. Since we never know much about what the future holds – and in a crisis, with careening causes and consequences, certainly less than ever – we must decide which side of the debate is more likely to be profitable (or less likely to be wrong).
  • Two or three years ago, the world was so different as to be almost beyond remembering. It was ruled by greed, optimism, and credulity. In short, it was the opposite of the last few weeks: no story was too positive to be believed.
  • Boy, what a good time that was for a dose of skepticism! What benefits it could have provided (in terms of losses avoided). But when conventional wisdom is rosy, few can stand against it. People who do so too early look woefully wrong and are swept aside. That discourages others from trying the same thing, even as the cycle swings further to the positive extreme.
  • I’d define skepticism as not believing what you’re told or what “everyone” considers true.(...) If you believe the story everyone else believes, you’ll do what they do. Usually you’ll buy at high prices and sell at lows. You’ll fall for tales of the “silver bullet” capable of delivering high returns without risk. You’ll buy what’s been doing well and sell what’s been doing poorly. And you’ll suffer losses in crashes and miss out when things recover from bottoms. In other words, you’ll be a conformist, not a maverick (an overused word these days); a follower, not a contrarian.
  • Skepticism and pessimism aren’t synonymous. Skepticism calls for pessimism when optimism is excessive. But it also calls for optimism when pessimism is excessive.
  • The key – as usual – was to become skeptical of what “everyone” was saying and doing. The negative story may have looked compelling, but it’s the positive story – which few believed – that held, and still holds, the greater potential for profit.

👉Comment envoyer des emails dans cette période difficile (Wired) :

  • “Emails now be like: I hope you are staying safe, sheltered in place, stocked with toilet paper, and healthy during these absolutely unprecedented, wild, chaotic, terrifying times. Just wanted to follow up—” tweeted a Yale law student, in a tweet that has more than 200,000 likes.
  • The biggest piece of advice he offers for sending meaningful emails is to send fewer of them. After that, try to avoid clichéd phrases that make emails so “drab and boilerplate.” And finally, write thoughtfully.

📚 Réflexions

👉L’ordre du monde qui change et comment étudier le passé en profondeur nous aide à mieux comprendre le présent (Ray Dalio). A lire en détail, et ici quelques citations :

  • My biggest mistakes in my career came from missing big market moves that hadn’t happened in my lifetime but had happened many times before.
  • I could learn the timeless and universal mechanics underlying them and develop timeless and universal principles for dealing with them well.
  • Most things—e.g., prosperous periods, depressions, wars, revolutions, bull markets, bear markets, etc.—happen repeatedly through time. They come about for basically the same reasons, typically in cycles, and often in cycles that are as long or longer than our lifetimes.
  • The country that gets to print the world’s primary currency (now the US) is in a very privileged and powerful position, and debt that is denominated in the world’s reserve currency (i.e., US dollar-denominated debt) is the most fundamental building block for the world’s capital markets and the world’s economies.
  • How will people and policy makers be with each other when the next economic downturn arrives?

🏥 Santé

👉Les entrepreneurs, les entreprises (dont Alan) partout dans le monde se battent pour lutter contre Covid19. C’est beau à voir. (CNBC)

👉11 sous-traitants choisis dans un temps record pour aider la NHS à gérer la télé-consultation (Digital Health) dont notre partenaire Livi

💚 Les publications d’Alan et sur Alan

👉J’étais cette semaine l’invité de The 20 Minute VC (lien vers le Podcast et vers Apple Podcast). L’occasion de revenir sur l’histoire d’Alan, notre culture, comment on gère le remote, la manière dont on recrute, l’importance de l’onboarding,...

👉Notre programme “Coup de Pouce” a été sélectionné par France Télévision, dans le cadre de #comSolidaire. Alan est donc de retour sur le petit écran !

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