The Weekly Minute - Jan. 27, 2023
What I’ve Read This Week
Netflix and 10x Talent (via SatPost by Trung Phan)
In his weekly newsletter last week, Trung wrote a deep dive into Netflix’s history of paying top of market for talent. This is famously discussed in the 120-slide “Culture Deck” presentation from 2009, and in Reed Hasting’s ‘No Rules Rules’ book.
In creative roles, the best talent is easily 10x better than average. That pays for itself.
It costs a lot more to lose people and to recruit replacements than to overpay a little in the first place.
The read is a good refresher on the why and how Netflix gets this done — with a few more images of that slide deck.
Health systems in 10 years: 20 predictions from top executives (via Becker’s)
The article title says it all. There are 20 of them, but here are a few to get you started:
Operationally, hospitals and health systems will be more designed around the patient experience rather than the patient accommodating to the hospital design and operations. Specifically, more geared toward patient choice, shopping for services, and price competition for out-of-pocket expenses. - Gerard Brogan / Senior Vice President and Chief Revenue Officer of Northwell Health
The consumer/patient experience will be vastly improved. Investments in mobile digital applications will provide greatly enhanced communication, transparency of clinical status, timelines, the likelihood of expected outcomes and cost. - Mike Gentry / Executive Vice President and COO of Sentara Healthcare
I would hope that in the next 10 years, our offerings in healthcare truly reflect our efforts to adopt consumerism and patient choice, alleviate equity barriers and harness efficiencies while reducing time waste. - David Sylvan / President of University Hospitals Ventures
Health systems will evolve from being just a collection of hospitals, providers, and services to providing and coordinating care across a longitudinal care continuum - David Rahija / President of Skokie Hospital, NorthShore University HealthSystem
The increased focus on cost containment, value-based care, inflation, and pricing transparency will hopefully push payers and providers to move to a more symbiotic relationship versus the adversarial one today. - Jamie Davis / Executive Director, Revenue Cycle Management of Banner Health
A Briefer on ChatGPT (via Justin Welsh)
ChatGPT is a fascinating tool that has taken the creator/technology world by storm in the past month or so. Here is an email newsletter (The Saturday Solopreneur) giving a breakdown on what ChatGPT is at its core, and a few practical use cases for it – including drafts of an email newsletter, creating other content, etc.
It’s pretty cool.
One thing to remember about ChatGPT (and other artificial intelligence tools): “It’s only really as smart as the person using it. If you don't understand how to feed it the right information, it can become challenging to get anything useful back.”
A New Framework
You’ve most likely heard of the ‘Rock - Pebble - Sand in a Jar’ metaphor as a way to understand key priorities.
Basically, the jist is to get it all in the jar.
If you start filling the jar by first adding sand, then pebbles, you will not have room for rocks.
The big rocks symbolize the most important things in your life
The pebbles represent things that are important, but you can probably live without
The sand represents all of the smaller items that are “filler activities” that aren’t important
The lesson? if you don’t put the big rocks in the jar first, they won't fit in later.
One Quote
"You'll feel better once you get started." – James Clear
Basically, just go. Do that thing. Press publish. Send that email.
Misc. Thought
A Key Principle: FOCUS IS EVERYTHING
Our greatest asset is time – and that will always remain true. That being said, intense focus and prioritization is the best way to ensure you're making efficient and consistent progress and decisions that you are happy with.
Trade offs must be made as doing less but better always trumps doing more but worse.
As we all know, less is more.
