Pogue Wraps Product Review in Allegory
The typical product review has a happy ending.
By that, I mean the end of a review usually calls out one product as the best choice.
In spite of the “happily every after” - at least for one company - you don’t associate the product review genre with storytelling.
Instead, these articles strive to clinically attach a value to different features and functions with the objective of helping potential buyers make their decisions.
That’s why a recent review by David Pogue in The New York Times caught my attention.
Anyone who touches the consumer electronics space knows Pogue and his gift for humor. His comparison of Windows Vista to the Mac OS back in 2006 - “I’m going to prove that Microsoft did not steal ideas from Mac OS 10″ - remains a classic and must-watch video:
But it’s interesting to see his quest for levity play out in a print product review called “Big Sensor, Tiny Camera, Nice Results” (don’t think Pogue wrote the headline; perhaps a byproduct of the SEO jockeys).
The review goes old school with the lead ‘graph:
Centuries ago, a young boy in Japan was preparing for a long journey. “You will need much drinking water,” said his master. “Construct a barrel that will catch the rain.”
You can almost sense David Carradine flashing back to his Grasshopper days, an allusion that keeps as the story unwinds:
After a quick run to his local Pagoda Depot for supplies, the boy built a large barrel, open at the top. When it rained, the barrel filled quickly.
“Good,” said the master. “Now pack it up.”
“But master,” the boy protested. “This barrel is much too big and heavy to take on my journey — it might not even qualify as carry-on! I need a much smaller, lighter container!”
Nice turn of a phrase, “Pagoda Depot.”
Sensing that an allegory is taking shape:
“A wise observation,” said the master.
“And yet,” said the boy, “a smaller container means a smaller opening, and it won’t catch nearly as much rain.”
And now, the payoff with Pogue intersecting Grasshopper with today’s digital dilemma:
The master nodded again. “Excellent, my son,” he said. “Now you understand the trade-off between digital S.L.R. cameras and pocket cameras. The S.L.R. is big and heavy, but it has a huge sensor that collects much light; you can get sharp photos even at twilight. The pocket camera has a tiny sensor that’s blurry in low light, but at least you won’t slip a disk trying to carry it around.”
The rest of the review offers the obligatory compare and contrast of several cameras.
Of course, every story must have an end.
Naturally, Pogue ties back to the drinking water quandary:
In the end, the boy began to cross Japan with only a tiny water flask on his back.
The master was aghast. “But you will die of thirst, my son!”
The boy smiled as he continued walking. “I’m not too worried about it, old man. Technology has a way of making all things possible.
Right. There’s no way a Japanese boy is going to call Kwai Chang Caine an “old man.”
But the boy saying “please don’t worry master” doesn’t quite have the same verve.
Like all master storytellers, Pogue expects us to suspend belief.
I’m OK with this for a product review that shakes up the status quo.
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Storytelling in Warren Buffet Shareholder Letter
Back in 2008 I wrote it’s not enough that Warren Buffet has become one of the richest men in the world. He’s also a world-class storyteller. (If it makes you feel any better, at least he’s not handsome.)
Nowhere does this gift go on public display more than in his annual letter to shareholders.
It’s worth setting aside 30 minutes to absorb the 20 pages like a novella.
But I’ve cherry-picked the slices of narrative that I found particularly amusing, starting with Buffet’s philosophy:
Long ago, Charlie laid out his strongest ambition: “All I want to know is where I’m going to die, so I’ll never go there.” That bit of wisdom was inspired by Jacobi, the great Prussian mathematician, who counseled “Invert, always invert” as an aid to solving difficult problems. (I can report as well that this inversion approach works on a less lofty level: Sing a country song in reverse, and you will quickly recover your car, house and wife.)
He’s right.
I just tried this with a Merle Haggard tune and it works, a sad reminder that no matter how many times I played the Beatles song “I Am The Walrus” backwards, I could never make out “Paul is dead.”
This next one isn’t as entertaining but shows the power of conversational language:
We tend to let our many subsidiaries operate on their own, without our supervising and monitoring them to any degree. That means we are sometimes late in spotting management problems and that both operating and capital decisions are occasionally made with which Charlie and I would have disagreed had we been consulted. Most of our managers, however, use the independence we grant them magnificently, rewarding our confidence by maintaining an owner oriented attitude that is invaluable and too seldom found in huge organizations. We would rather suffer the visible costs of a few bad decisions than incur the many invisible costs that come from decisions made too slowly – or not at all – because of a stifling bureaucracy.
There’s no double-talk.
He explains his approach to management, acknowledging the periodic downside.
BTW, I defy you to find another shareholder letter that includes the word “magnificently.”
But quintessential Buffet occurs when he turns to self-deprecation as a mechanism to disarm:
And now a painful confession: Last year your chairman closed the book on a very expensive business fiasco entirely of his own making.
For many years I had struggled to think of side products that we could offer our millions of loyal GEICO customers. Unfortunately, I finally succeeded, coming up with a brilliant insight that we should market our own credit card. I reasoned that GEICO policyholders were likely to be good credit risks and, assuming we offered an attractive card, would likely favor us with their business. We got business all right – but of the wrong type.
Our pre-tax losses from credit-card operations came to about $6.3 million before I finally woke up. We then sold our $98 million portfolio of troubled receivables for 55¢ on the dollar, losing an additional $44 million.
GEICO’s managers, it should be emphasized, were never enthusiastic about my idea. They warned me that instead of getting the cream of GEICO’s customers we would get the – – – – – well, let’s call it the non-cream. I subtly indicated that I was older and wiser.
I was just older.
Forget the shareholders.
Imagine how this mea culpa played with Geico’s executives who were originally overruled. Something about seeing the big boss fall on his sword allows everyone to move on.
And I love the pacing of this narrative.
Deeper in the letter he discusses the over supply in the housing market:
There were three ways to cure this overhang: (1) blow up a lot of houses, a tactic similar to the destruction of autos that occurred with the “cash-for-clunkers” program; (2) speed up household formations by, say, encouraging teenagers to cohabitate, a program not likely to suffer from a lack of volunteers or; (3) reduce new housing starts to a number far below the rate of household formations.
The man has a sense of humor and he’s not afraid to use it, a trait that surfaces again in this ditty:
Naturally, our fellows caved in and agreed to this value-destroying deal. “We need to show that we are in the hunt. Besides, it’s only a small deal,” they said, as if only major harm to shareholders would have been a legitimate reason for holding back. Charlie’s reaction at the time: “Are we supposed to applaud because the dog that fouls our lawn is a Chihuahua rather than a Saint Bernard?”
Of course, the letter is peppered with one-line zingers like:
Charlie and I enjoy issuing Berkshire stock about as much as we relish prepping for a colonoscopy.
Even if you’re not a middle-aged man, you get the drift.
Stepping back, what allows the storytelling to come through?
First, Buffet is true to himself. To borrow from the social media world, he’s absolutely authentic which comes through in his narrative.
Plus, he writes with a conversational tone. He’s not trying to come off as the smartest guy in the room.
And finally, he uses an element in short supply in business, humor. I’m not talking Robin Williams nanu nanu humor but the type of that makes you crack a smile.
Note: I penned a guest post on this very same topic that ran on VentureBeat yesterday. In the home-turf version, I drop in large chunks of Buffett’s narrative so you can see how the words are strung together. I suppose this version also goes for an extra-cheap smile (laugh is too strong a word).
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Essay Makes Case For More School, But Student Writing Skills Seem Just “Fine”
An essay in Saturday’s Wall Street Journal makes an argument that U.S. students need to spend more time in the classroom.
We learn that kids in China attend school 41 days a year more than their American brethren.
The author, Chester E. Finn Jr., goes on to roll out stat after stat - the typical American youth spends 53 hours per week on TV, videogames and the Internet versus 30 hours in the classroom; required courses in France took up 3,280 hours versus 1,460 hours in the U.S., etc. - with the upshot being our kids need to spend more time in school.
I think Mr. Finn’s sour disposition would perk up if he was aware of the literary “prowess” being developed in America’s high schools.
Back in January I posted on a listing of metaphors and analogies purportedly from high school essays, which didn’t exactly pull in the readers (to put it kindly).
With this in mind, I thought I’d take a second shot, pulling out of my favorites for Mr. Finn:
“She grew on him like she was a colony of E. coli and he was room-temperature Canadian beef.”
Shrewd to align storytelling with a timely topic like food contamination. But why Canadian beef? If you’re striving for the exotic angle, should have gone with Argentinean stuff.
“She had a deep, throaty, genuine laugh, like that sound a dog makes just before it throws up.”
The blending of Lauren Bacall and Old Yeller makes for narrative you don’t see every day.
“Long separated by cruel fate, the star-crossed lovers raced across the grassy field toward each other like two freight trains, one having left Cleveland at 6:36 p.m. traveling at 55 mph, the other from Topeka at 4:19 p.m. at a speed of 35 mph.”
On one hand, you shouldn’t feel like you’re taking the SAT to figure out a love story. On the other hand, the ambiguity pulls you in because you can’t be 100 percent sure when the lovers will actually collide.
“He fell for her like his heart was a mob informant and she was the East River.”
You don’t often see young authors pursue the mafia genre. While not exactly Mario Puzo, the personification of the East River shows promise.
“It was an American tradition, like fathers chasing kids around with power tools.”
You have to admit, fathers armed with chainsaws and the like deliver stronger imagery than men running around with wood paddles.
Back to the big picture, would this storytelling be stronger by spending more time in the classroom?
Let me study essays from those kids in China who spend 41 more days in school and I’ll get back to you.
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Who Says Johnny Can’t Write (A Good Story)?

I’m tired of reading how American students lag behind their international counterparts on the academic front.
Johnny can’t write.
Johnny can’t add.
Johnny can’t spell.
Even The Wall Street Journal has piled on with an article which highlights that only 23 percent of the 2009 high school graduates taking the ACT admissions test have the skills to succeed in college.
Enough already.
There’s plenty about today’s youth to prompt optimism.
In fact, one of my colleagues John Radewagen pointed me to a listing of metaphors and analogies purportedly from high school essays that - how shall I say it - show a certain “creativity.”
I’ve pulled out my favorites:
“She grew on him like she was a colony of E. coli and he was room-temperature Canadian beef.”
Shrewd to align storytelling with a timely topic like food contamination. But why Canadian beef? If you’re striving for the exotic angle, should have gone with Argentinean stuff.
“She had a deep, throaty, genuine laugh, like that sound a dog makes just before it throws up.”
The blending of Lauren Bacall and Old Yeller makes for narrative you don’t see every day.
“Long separated by cruel fate, the star-crossed lovers raced across the grassy field toward each other like two freight trains, one having left Cleveland at 6:36 p.m. traveling at 55 mph, the other from Topeka at 4:19 p.m. at a speed of 35 mph.”
On one hand, you shouldn’t feel like you’re taking the SAT to figure out a love story. On the other hand, the ambiguity pulls you in because you can’t be 100 percent sure when the lovers will actually collide.
“He fell for her like his heart was a mob informant and she was the East River.”
You don’t often see young authors pursue the mafia genre. While not exactly Mario Puzo, the personification of the East River shows promise.
“It was an American tradition, like fathers chasing kids around with power tools.”
You have to admit, fathers armed with chainsaws and the like deliver stronger imagery than men running around with wood paddles.
The future of storytelling is indeed in good hands.
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Warren Buffett Tells a Good Story

It’s not enough that Warren Buffett has generated a net worth of around $62 billion, making him one of the richest men in the world.
He’s also a world-class storyteller. (If it makes you feel any better, at least he’s not handsome.)
With Warren Buffett in the spotlight for rescuing Goldman Sachs with a $5 billion infusion, lending his wisdom on the economic turmoil, and talk of landing the Secretary of the Treasury gig, I thought the timing was right to revisit his other gift.
No question, Warren - I’m adopting his propensity for down-home casual - knows how to turn a phrase. Referring to derivatives as “financial weapons of mass destruction” serves as exhibit A.
But to say that Warren has honed the art of a sound bite sells him short.
This is a guy who knows how to tell a story and effectively apply the technique to the business world as illustrated in his annual letter to shareholders. Yes, the letters contain the facts and figures behind Berkshire Hathaway’s financial performance, but they also bring an element of levity to the equation.
One of my favorite passages appeared in his 2006 shareholders letter:
To add to the Sunday fun Ariel Hsing will play table tennis (ping pong to the uninitiated) from 1 pm to 4 pm against anyone brave enough to take her on. Ariel, though only 11, is ranked number one among girls under 16 in the U.S. I played Ariel, then 9, thinking I would take it easy on her so as not to crush her young spirit. Instead she crushed me …
Self deprecation plays in Peoria.
Let me end this section by telling you about one of the good guys of Wall Street, my long-time friend Walter Schloss, who last year turned 90. From 1956 to 2002, Walter managed a remarkably successful investment partnership, from which he took not a dime unless his investors made money. My admiration for Walter, it should be noted, is not based on hindsight. A full fifty years ago, Walter was my sole recommendation to a St. Louis family who wanted an honest and able investment manager.
Walter did not go to business school, or for that matter, college. His office contained one file cabinet in 1956; the number mushroomed to four by 2002. Walter worked without a secretary, clerk or bookkeeper, his only associate being his son, Edwin, a graduate of the North Carolina School of the Arts. Walter and Edwin never came within a mile of inside information. Indeed, they used “outside” information only sparingly, generally selecting securities by certain simple statistical methods Walter learned while working for Ben Graham. When Walter and Edwin were asked in 1989 by Outstanding Investors Digest, “How would you summarize your approach?” Edwin replied, “We try to buy stocks cheap.” So much for Modern Portfolio Theory, technical analysis, macroeconomic thoughts and complex algorithms.
Following a strategy that involved no real risk – defined as permanent loss of capital – Walter produced results over his 47 partnership years that dramatically surpassed those of the S&P 500. It’s particularly noteworthy that he built this record by investing in about 1,000 securities, mostly of a lackluster type. A few big winners did not account for his success. It’s safe to say that had millions of investment managers made trades by a) drawing stock names from a hat; b) purchasing these stocks in comparable amounts when Walter made a purchase; and then c) selling when Walter sold his pick, the luckiest of them would not have come close to equaling his record. There is simply no possibility that what Walter achieved over 47 years was due to chance.
I first publicly discussed Walter’s remarkable record in 1984. At that time “efficient market theory” (EMT) was the centerpiece of investment instruction at most major business schools. This theory, as then most commonly taught, held that the price of any stock at any moment is not demonstrably mispriced, which means that no investor can be expected to overperform the stock market averages using only publicly-available information (though some will do so by luck). When I talked about Walter 23 years ago, his record forcefully contradicted this dogma.
And what did members of the academic community do when they were exposed to this new and important evidence? Unfortunately, they reacted in all-too-human fashion: Rather than opening their minds, they closed their eyes. To my knowledge no business school teaching EMT made any attempt to study Walter’s performance and what it meant for the school’s cherished theory.
Instead, the faculties of the schools went merrily on their way presenting EMT as having the certainty of scripture. Typically, a finance instructor who had the nerve to question EMT had about as much chance of major promotion as Galileo had of being named Pope.
Tens of thousands of students were therefore sent out into life believing that on every day the price of every stock was “right” (or, more accurately, not demonstrably wrong) and that attempts to evaluate businesses – that is, stocks – were useless. Walter meanwhile went on overperforming, his job made easier by the misguided instructions that had been given to those young minds. After all, if you are in the shipping business, it’s helpful to have all of your potential competitors be taught that the earth is flat.
Maybe it was a good thing for his investors that Walter didn’t go to college.
Classic storytelling.
He builds both context and empathy for the main character. The drama comes in academia refusing to consider that there might be “life” beyond efficient market theory (EMT). Humor is woven throughout the story. And you don’t need to be a numbers jockey to appreciate the benefits of an open mind.
The same mentality comes out when Warren verbally articulated his views in a recent interview on the “Charlie Rose” show. (Thanks to my college fraternity buddy Jim Engle for passing that along.)
He’s definitely figured out a conversational tone trumps striving for the smartest-kid-in-the-class crown.
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