Author: manuscrypts

  • An incognito good life

    For a particular generation, Wet Wet Wet’s “Love is all around” from the soundtrack of “Four Weddings And A Funeral” is a special song. And thus, catching Andie MacDowell (yes yes, Sex, Lies, and Videotape too) in Maid was a pleasant surprise. She plays Paula, mother to Alex, played by her real-life daughter Margaret Qualley, and grandmother to Maddy, Alex’s daughter.

    Paula is an artist, reasonably disconnected from reality. Probably her way of coping with the unpleasant things that happened earlier in her life. In Episode 3 (Sea Glass), we see her preparing for an art show. (Minor spoiler ahead) When Alex (who did a lot of heavy lifting literally and otherwise) drives her to the gallery, it turns out there is no show. Paula had completely misread some charitable comments made by the curator! She might have been a flavour at some point, but is now middling, at best.

    At dinner on the same day, Paula and Alex squabble, with Paula delivering a low blow. But the next day, when Alex returns to her (temporary) home in the evening, she finds that Paula was there earlier, and had painted a wall mural for Maddy. Maddy gets all giggly and excited.

    And all that was one part of the context. The second part is what I have been reading in ‘Lives of the Stoics‘, around the same time. ‘We naturally care what people think of us; we don’t want to seem too different, so we acquire the same tastes as everyone else. We accept what the crowd does so the crowd will accept us. But in doing this, we weaken ourselves. We compromise, often without knowing it; we allow ourselves to be bought – without even the benefit of getting paid for it.‘ 

    I thought about it in the context of Paula’s exhibition vs mural. Exhibiting one’s expressions (art) to a crowd which is seemingly interested in such things vs delighting her daughter and grand-daughter. I understand it does not always have to be an either-or, but I think we subconsciously optimise for one or the other, and neurons wire together etc.

    As I have written before, when the ‘why’ of creation changes, so does the ‘what’. And there are many slices to this. For instance, doing something because it gives me joy vs doing it for validation from ‘Instafam’ or Tweeps. And not just validation, but validation at scale – ‘We have created a world where we reward the manipulation of quantities more than the appreciation of qualities.’ ~ Roger L. Martin. There is another slice, more on that later.

    For some time now, I have consciously tried to avoid this direction, and instead, focused on a different path. From experience, it is a matter of training one’s mind, and being mindful of the distractions. Easier said than done, especially when a staged presence has a direct implication on things like employability. But possible.

    For me, success is not a public thing. It’s a private thing. It’s when you have fewer and fewer regrets.‘ ~ Toni Morrison. For instance, something I am grateful for is the ability to make people laugh. Not a prepared standup act, but something on the spur of the moment, with a bunch of contexts built in. These days, when I am able to make D laugh, I consider the day a success. I also find the opportunity to make friends and colleagues smile rewarding.

    Not that I don’t share random wordplay on Twitter, or don’t find validation pleasing, but I am increasingly becoming ok not getting it either. Just being able to do it makes me happy. ‘To have but not want, to enjoy without needing.’ 

    And then there is the other slice. The work on this continues, but that’s another post.

  • The Psychology of Money

    Morgan Housel

    My job is at the intersection of marketing and personal finance, and that’s the reason why I appreciate this book even more. It is a difficult subject to communicate, but a job that needs to be done. What makes The Psychology of Money really good is that it views money not (only) through the technical lens, or the “get rich” advice, but explores the emotional aspects of personal finance, and then articulates in a way that is relatable. I might be a little biased because I subscribe to the author’s worldview, and apart from index fund investing, have exactly the same approach. But I think everyone should read this book, because, as the author quotes (Voltaire), “History never repeats itself; man always does.”

    I will try not to paraphrase the lessons because they need to be read in the author’s narrative style for them to (hopefully) sink in. He begins with calling out the fact that personal finance is well, personal, and while there are definitely rules in finance and investing might, one’s behaviour is based on one’s experiences and emotions. And some of it is very generation specific. For instance, the idea that one is entitled to a dignified retirement life took root only in the 1980s! 

    He then moves on to risk, and the role of luck, followed by the importance of knowing what you really want, and then, some excellent illustrations of the “magic pill” – compounding – at work. The next couple of chapters make some key points that are often ignored- the difference between getting wealthy and staying wealthy, and the importance of “tail events”.

    The definition of “freedom” is something I could completely relate to. I’d flip the original maxim for a quick understanding – “money is time”. The more agency over time I have, the happier I am. The next two chapters about wealth are extremely insightful – no one is as impressed as your possessions as you are, and spending money on showing others that you have money is the fastest way to lose it! Wealth is income not spent, and it increases optionality. And while, one cannot control externalities, what is possible is an efficiency in savings. “One of the most powerful ways to increase your savings isn’t to raise your income. It’s to raise your humility.” 

    The following chapters get deeper into the how emotions play a large role in financial decision making, how it is better to be reasonable than trying to be coldly rational, and also, how important it is to leave room for error. I really loved the Benjamin Graham quote – “the purpose of margin of safety is to render the forecast unnecessary.” This is also important because our own desires and notions of happiness change with time. There are also some nuanced perspectives on optimism, and my views about it have changed now! 🙂

    Another extremely important lesson is not taking financial cues from others without really understanding what game they are playing – what are they optimising for, and why. e.g. day traders vs long-term investors, at a transactional level. The author uses the final chapter to show what he is aiming for, and therefore the rationale behind his own investments. 
    As I mentioned earlier, the author’s goals resonate with me – “..you only do the work you like with people you like at the times you want for as long as you want.” But at the risk of repeating myself, I think this book will help you frame your relationship with money, irrespective of where you are in your thinking and understanding of personal finance. So I insist you read it! Now!

    P.S. The postscript is an excellent read on how the US economy and its people got to where they are, both in terms of macro economic events and trends, and expectations. It’s superbly insightful in terms of understanding consumer psyche. Wonder if someone has done this for India.

    The Psychology of Money by Morgan Housel
  • Ex-communities

    One of the pleasant side-effects of the pandemic in Bangalore is the (relative) reduction in time to get to places. That meant I didn’t grumble much when we had to make a trip to Jalahalli. The original plan was to use the Metro but thanks to the reduced time, we took a cab. Typical tourist behaviour! (For Whitefield residents, Jalahalli is practically tourism)

    Our destination was somewhere inside the HMT kingdom and on our way back, as the sun began its descent, the backseat of a car was a great place to reflect on folks spending their Sunday evening. Using HMT and time together is predictably Facebook meta, but there is a poignance in the vestiges of a once thriving community. A cinema, an officers club, an auditorium, a playground, a hospital and even a museum, all centred around a factory. Someone’s vision of a self-sufficient ecosystem.

    And like all ecosystems, it has a shelf-life. But parts of it persist, and the crowd in the playground, where two cricket matches were being played simultaneously, was proof of that. It reminded me of the university campus, and a phrase I had used for it almost a decade ago – islands in time.

    I am probably biased because I am an 80s kid. Technically 70s, but hey, what’s a couple of years in a few decades? I think the ecosystems that I experienced in the 80s gave people a shared identity. And I could not help but juxtapose this with apartment life. Yes, we call it community, but how many really are?

    I also believe we have been moving relentlessly towards a more individual-centric was of living. Technology and specifically mobile internet has accelerated it. Ironically, the pandemic was a speed breaker that made us realise our shared existence in isolation, but the lesson, I pessimistically believe, won’t stick. Algorithms ensure that our digital consumption is a warped version of reality tailor-made for the individual. And when everything from food to self actualisation is a swipe away, community gets played differently.

    One shift is from real to digital. I am old enough to remember the first years of the consumer internet (in India, at least) and the online communities then. IRC, anyone? 🙂 And the early days of Web 2.0 – from Google Reader to Del.icio.us to Twitter. Yes, these ecosystems too have a shelf life. The internet has matured, and by definition, that is a loss of innocence. And likes and ‘fams’ simultaneously reveal and exacerbate the malaise within. I happened to be reading Behave, and found this paragraph relevant here –

    …neighbourhoods readily communicate culture to kids. Is there garbage everywhere? Are houses decrepit? What’s ubiquitous – bars, churches, libraries, or gun shops? Are there many parks, and are they safe to enter? Do billboards, ads and bumper stickers sell religious or material paradises, celebrate acts martyrdom, or kindness and inclusiveness?

    Look around, across real and virtual neighbourhoods, and think about what you see. Maybe it’s me, but it is indeed ironic that the era of hyper-connectivity creates an inherent sense of disconnectedness. Not just from others, but from the self too. That, is a dangerous place to be.

  • Political Order and Political Decay

    Francis Fukuyama

    The first volume – The Origins of Political Order – went straight into my favourites, and so does this one. While the former was about the components of a stable state, and how political institutions developed differently in various parts of the world, this book begins at the dawn of the Industrial Revolution and shows how state, law and democracy developed to their current state, by (also) considering three additional dimensions of socioeconomic development – social mobilisation, idea legitimacy, and economic development. The industrial revolution and the economic growth that followed caused a movement to urban areas, where new social groups were formed based on fluid identities. This mobilisation serves as a foundation for changing political institutions with new ideas. The book also throws light on the various reasons for the decay of institutions, and offers directional thoughts on fixing them. 

    The author frames the development of the stable state by asking how a country can “get to Denmark”, which is the benchmark for an ideal state. While there is some specific focus on the US, also warranted by its early and unique path to democracy, the depth of analysis that has gone into many countries, across Asia, Latin America, Africa, Europe, is just astounding! History, economics, policy, geography, (with critique and usage of content from another favourite book – Guns, Germs & Steel), culture and many other facets, all going into understanding the state of politics in a particular country. There are many routes to modern government, including the necessities that war creates (“unfortunately”, Latin America never had its share, and Europe had plenty of it – both have class stratification, national identity, and geography to thank) and peaceful political reform. And once there, the principle of effective government is meritocracy, the principle of democracy is popular participation, effective states operate through law, but law can be an obstacle to appropriate levels of administrative discretion – how is balance achieved? The material is phenomenally complicated, and bringing it to this level of accessibility is something the author should be credited for. 

    The first part of the book focuses on parts of the world that experienced liberal democracies first – Europe and the US. It also analyses why Germany has an uncorrupt administration while Italy and Greece are plagued by corruption. In the former, how is state strength related to organised crime? How does cynicism and social distrust get culturally embedded? How were Britain and the US able to reform themselves from patronage-led public sectors? And why was Britain able to get there faster than the US? An active middle class accelerated Britain while US got a unified business community and middle class professionals only in the late nineteenth century. At a broad level, we learn early that the sequencing of events matters greatly. Countries where democracy preceded state-building (US) have had higher problems in achieving high-quality governance than those who inherited modern states (Germany, through some excellent civil service reform and an educational system) from absolutists. And that democratic societies without a strong national identity have trouble unifying the population with a common narrative. 

    The second part deals with parts of the world that had been colonised – Latin America, Asia, Africa, and the Middle East. When the imperial powers left, many of these nations were neither fully Westernised nor able to retain their traditional political organisation. However, there are success stories like Costa Rica, which according to many frameworks should have become a banana republic. There are also disasters, like Argentina, which, blessed with climate and resources, should have become a model country. The reasons are complex, and Sub-Saharan Africa vs East Asia is a great example of different development paths. In both areas, as well as Latin America and the Middle East, states that had strong institutions were able to reestablish them, while those that didn’t struggled. Interesting to note that African ethnic groups are largely a modern phenomenon, created or at least consolidated in postcolonial times! The specifics of the Japanese system and how their military-led nationalism has evolved until the present day is also fascinating. The problem that East Asia now faces is making the state accountable. The nuanced difference between rule by law (state using law for its ends) and rule of law (law binding on the state) is superbly explained. In the Middle East, the threat is that popular mobilisations risks being hijacked by religion. 

    Part 3 focuses on democratic accountability and goes back in time to the period after the French and American revolutions to see how democracy spread. The timing in various countries vary depending on the changing relative positions of social classes – middle class, working class, elites, and peasants. The rise and growth of middle class was a great catalyst to democracy. While doing this, it raises a question extremely important for the current times – with increasing globalisation and technological advances, the middle class is getting hollowed out. What happens to democracy then? 

    The final section of the book is on political decay, and there is a heavy focus on the US, which has now gotten tied up in the very checks and balances it had set up to protect democracy. In the author’s words, “there is too much law and too much “democracy” relative to the American state capacity”. It has now become a vetocracy, with economically powerful special interest groups and the judicial arm having hijacked the system and preventing reforms. No modern book can avoid China, and this is further proof. The author sees the Chinese model as the biggest nondemocratic challenge to the idea of liberalised democracies. How will the Chinese middle class behaves in the next few decades? Even as it grows, will it be content to live under a “benevolent” one-party dictatorship? 

    I think I will re-read both volumes, they are such treasure troves of information. If you like books that explain the system of the world, this is a set you most definitely should pick up. 

  • Ironhill

    Back in April, my Insta feed was full of urban Bangaloreans who couldn’t be in Maldives and had to make do with Marathahalli, specifically Ironhill. It’s touted to be India’s largest microbrewery. The place is a combination of the Venice-meets-Varthur look (and smell) perfected by Big Brewsky and Hoot in the open areas, and an 80s industrial grey vibe-meets- rustic chic interior that’s spread across at least three floors. When we called to reserve, we were told that it was already full for the weekend, and we could take our chances walking in. At 5.30, we were able to get a table, though inside, and sat amidst a mix of multi-generational family crowds, and pouting beings scouting backgrounds for their Insta fam.

    The only reason I’d visit any place in Marathahalli is craft beer, and thankfully 6 out of the 8 beers were available. I use thankfully very loosely, because after running through the samplers, we settled on the least offensive Sincity Cider and Wonderland Wheat. This only verified my hypothesis that if in Marathahalli, abandon all hop!

    Since my intake of spice have been put on ice for a while, we started with the Tandoori Malai Chicken dimsum. It seemed to have spent quite some time in transit, and that meant our relationship with it was lukewarm. Next up was the Moroccan Chicken skewers, which were a bit spicy but enjoyable. The safest bet when it comes to pizza is usually the BBQ Chicken and true to form, this one too was decent.

    The service is quite friendly and prompt, and our bill came to a little less than Rs.2000. Overall, you won’t miss anything if you don’t visit.

    Ironhill, 90/7 & 90/8, Outer Ring Road, Marathahalli, Ph: 9606044623/4