Tim Ferriss: <\/strong>Could you describe or explain what the 70-20-10 model is? If that\u2019s the right term to use.<\/span><\/p>\nEric Schmidt:\u00a0<\/strong>That\u2019s correct. So this was Sergey\u2019s idea. And the question was: how do we organize our resources in terms of core things, new things, and experimental things? So Sergey \u2014 and we had an offsite with the whole management team, I still remember. And Sergey got up on the board and he did some math. He\u2019s a brilliant mathematician, and at the end of the math he said, \u201cThe right answer is 70-20-10. 70% on your core business, 20% on adjacent or nearby things, and 10% on wild bets<\/strong>.\u201d And he said that, \u201cAll of these numbers are right, you need the 70% because you need the revenue, the revenue growth. You need the 20% because you need to extend your franchise, and you need the 10%, which is crucially important for the things that you will want to do five or 10 years from now.\u201d<\/span><\/p><\/blockquote>\n <\/p>\n
And then a question popped in my head. Can we apply this concept to personal resources (i.e., time)? For example, we spend 70% on the stuff we know that makes us an income, 20% on nearby things and 10% on the field you like to get into or stuff you are doing for the future? (Getting a master\/Nanodegree\/side hustle)<\/p>\n
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Not sure if this can be applied on a personal level. One of the challenges would be how to focus. Also, I think on a personal level the percentage would be 70 \u2013 80% on core business (typically your day job) and 10-20%\u00a0 on side projects (wild bets).<\/p>\n","protected":false},"excerpt":{"rendered":"
I was listening to Eric Schmidt interview with Tim Ferris when Tim asked him on how Google manages its resources: Tim Ferriss: Could you describe or explain what the 70-20-10 model is? If that\u2019s the right term to use. Eric Schmidt:\u00a0That\u2019s correct. So this was Sergey\u2019s idea. And the question was: how do we … <\/p>\n
Continue reading “How Much Time Should You Allocate To Wild Bets?”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[22,20,21,23,19],"class_list":["post-77","post","type-post","status-publish","format-standard","hentry","category-thoughts","tag-eric-schmidt","tag-personal-time","tag-resources","tag-tim-ferris","tag-wild-bets","entry"],"_links":{"self":[{"href":"https:\/\/akhmees.info\/en\/wp-json\/wp\/v2\/posts\/77","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/akhmees.info\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/akhmees.info\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/akhmees.info\/en\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/akhmees.info\/en\/wp-json\/wp\/v2\/comments?post=77"}],"version-history":[{"count":3,"href":"https:\/\/akhmees.info\/en\/wp-json\/wp\/v2\/posts\/77\/revisions"}],"predecessor-version":[{"id":81,"href":"https:\/\/akhmees.info\/en\/wp-json\/wp\/v2\/posts\/77\/revisions\/81"}],"wp:attachment":[{"href":"https:\/\/akhmees.info\/en\/wp-json\/wp\/v2\/media?parent=77"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/akhmees.info\/en\/wp-json\/wp\/v2\/categories?post=77"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/akhmees.info\/en\/wp-json\/wp\/v2\/tags?post=77"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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