[Newsletter] STM Island Winner Announced. Speed Reading. Internal Triggers & The Crazy $30k Bitcoin Story

? MRKTRS HQ

Winner winner chicken dinner! And the winner of the STM Island content is…find out below!
Speed Reading + Comprehensive Reading = a delectable
combination – find out how to optimize your reading technique here.
5 quick-fire entrepreneurial lessons from the one, the only Elon Musk – watch now.
An epic tale of a dude who lost $30k worth of Bitcoin – full story is here.
How Instagram used triggers to form an addiction – read more here.
A sizzling snap from Mykonos showcases the supreme MRKTRS lifestyle – view it here.

All of this and more in this weeks MRKTRS WKLY newsletter
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Speed Reading in isolation does not improve your ability to comprehend or retain information. But Comprehensive Reading can.

The two principles work hand in hand and they must be adapted to the type of content you are consuming to control and acquire information efficiently.

Here are several things you should do before, during, and after reading any book:

Set a goal – personal pleasure v professional gain.
Determining “The One Thing” – the essential takeaway.
Table of contents is the key – enables your brain to map the book.
Implement skimming – the golden rule is the first and final chapter provide the main ideas. And at a granular level it’s the first and last sentence of a paragraph.
Commit to note taking – help to retain information.
Revisit the notes – weekly. See whats useful, if it’s not – delete.

PLUS discover how to actually speed read using Z’s tips and techniques such as:

Recording your current WPM (word per minute) reading speed – to give you a baseline to improve.
Use a pointer – enables a smoother
reading transition.
Reduce time spent on each line – reduce to 1/2 a second per line. This won’t impact your comprehension.
Utilize peripheral vision – focus on the second word of the line & and end your focus on the second to last of the line.
Prevent back-skipping.
Sub-Vocalizing.

On January 2016, Mark Frauenfelder spent $3k on 7.4 bitcoins.

By November his balance had doubled in value.

He then bought a Trezor hardware wallet in an attempt to safeguard his valuable bitcoin stash.

He wrote down his 24-word password recovery list on an orange piece of paper.

It mysteriously vanished into thin air (thrown out by the cleaner) when he was on holiday.

Then he forgot his password.

& Trezor kept doubling his lockout time with every failed password entry.

August 26, 2017. 7.4 BTC = $32k.

Mark enlisted the help of a 15-year-old British kid to hack his way into the un-hackable Trezor wallet.

…Check out the full tale in it’s entirety on
Wired.?

And please, please learn from Mark’s inexplicable complacency!

An Internal Trigger is when a thought or action is automatically triggered in the mind. Forming these within users has proven integral to Instagram’s incredible success, according to Nir Eyal, and there’s a lot we can learn from their adaptation of the method.

They are created by coupling a product with a thought, an emotion,
or a pre-existing habit. It becomes automatic and second-nature. Unlike external triggers which require sensory activation like a phone ringing or an ad online telling us to “click here now!”.

Using Instagram as an example, their evolution boils down to:
1. Using external triggers – facebook/twitter to get installs and new users on the app.
2. Create desire – Easily upload and stylise a photo. Each photo share = further
user commitment. Users change not only their behavior, but also their mindset.
3. A habit is formed – “I use it whenever I see something cool.” The popular tab shows what is “cool”. Likes and comments offers a social reward.

Internal triggers fired left, right and centre for millions of users and separated IG from the pack. It became part of peoples daily lives. Which is why Facebook paid $1 billion for it.

? Edison never missed an opportunity. In fact he even created his own. Through relentless experimentation and inventions. Many think Edison invented the first light bulb. But he didn’t. 23 others had already been invented and were commercially used widely. But he spotted an opportunity to create an everyday use light bulb. ?

He and his team weren’t afraid to roll up their overalls. They worked day and night doing thousands of experiments. A year later they succeeded. And Edison would go on to pioneer five different mammoth fields with his invention factory: electricity, ⚡️ motion pictures, ? telecommunications, ? batteries,? and sound recording. ?