The Propeller - A Clean Slate - 4-27-2025

Entrepreneurship: The Big Lie About Competition

People tell themselves all kinds of lies (mainly to protect their ego).

Yesterday I heard one such lie from a friend and fellow entrepreneur. He said: “it’s hard to succeed, it’s soooo competitive nowadays.”

Is it?

Yea, sure, a lot of people want things. But they are mostly unserious people.

Imagine 1,000 people – who all want the same thing as you. Here’s what your competition actually looks like:

As the great Charlie Munger said: “Take a simple idea, and take it seriously.”

You can apply the above in almost anything you do in life, including a job search.

Tech: Slate – Underdoing the Competition

Did you see that new Slate fully electric truck?

A $25k electric truck (Potentially under $20k with tax incentives), with an old school vibe. (eg. roll up windows)

I think it’s genius.

They used one of my favorite business tactics: underdoing the competition.

You see – cars just keep getting more complicated. Touch screens, butt warmers, a “Maybe-Gonna-Kill-You” driving mode, and so many sensors and gadgets to break.

Slate went the opposite direction:

No screens
No seat heaters
Roll up windows
Great for local driving (150 mile battery range, with an optional bigger battery for 240 mile range)
….a simple, $25k electric truck

At their launch event, they said it has old school KNOBS instead of digital buttons and the crowd literally roared.

Instead of filling its Truck with options and packages, Slate is developing an extensive personalization ecosystem so customers can equip their vehicle exactly how they like.

If you see an aspect you want to change, there’s a good chance you can. Slate will provide a catalog of accessories and upgrades that fit into the Truck’s hardware and software structures. Crank windows too rudimentary? Swap in power window modules. Prefer touchscreen connectivity? Get the mounting bracket for a tablet computer. Heated seats? Zip on a fitted cover that wires into the electrical system. Nicer interior trim? That’s available, too, in a variety of colors and finishes. Likewise, Slate will sell wrap kits of precut decals sized exactly to the truck’s dimensions for easy installation. The aftermarket business with this will be huge – and I can’t wait to see the 3D printer options that people will be making to customize the “blank” Slate!

In marketing: all positioning is counter-positioning.

Every other electric car: fancy, expensive, complex.

Slate: old school, affordable, simple.

Instead of being last place in the fancy electric car market, they’re now first place in the simple, fun electric truck market.

As Kevin Kelly says: “Don’t aim to be the best, be the only”.

Nintendo is the best at this. While Xbox (Microsoft) & PlayStation (Sony) were killing themselves to make the most cutting-edge high graphics systems. Nintendo came out with a goofy, low-fi Wii.

Half the price
Simple games that even your mom could play (Wii tennis, bowling)
Simple graphics (cartoon characters rather than ultra-realistic)

It sold over 100M+ units, outselling both Xbox & PlayStation.

“Indeed, to be simple, is to be great.” – Ralph Waldo Emerson

Well done, Slate.

I‘ve got mine reserved, let’s hope it doesn’t take years and disappoint like the Cyber Truck did.

Finance/Investing: Take Control of Your Paycheck: Adjust Your W-4 and Stop Overpaying the IRS

So far this year, IRS refunded a staggering $195 billion in overpaid taxes. That’s $195 billion of your hard-earned money given to the government interest-free! If you received a refund this year, it’s time to take action and adjust your W-4.

Why Does Overpaying Hurt You? When you receive a tax refund, it means you’ve essentially given the government an interest-free loan over the year. While it might feel good to get a lump sum check during tax season, wouldn’t you prefer to have that extra cash in your pocket year-round? You could use it to pay off debt, build an emergency fund, invest, or simply enjoy more financial freedom.

How to Adjust Your W-4 The W-4 form determines how much tax is withheld from your paycheck. If too much is being withheld, it’s time to make some adjustments. Follow these simple steps to get started:

Use the IRS Withholding Calculator: Visit the IRS website and use their online withholding calculator. It’s a powerful tool that helps you determine the right amount of tax to withhold from your paycheck.
Review Your Current W-4: Find your current W-4 form, usually available through your employer’s HR portal. Compare the allowances and information you’ve entered with the calculator’s recommendations.
Submit an Updated W-4: Once you’ve made the necessary changes, fill out a new W-4 form and submit it to your employer. It’s a quick process that can make a big difference in how much you take home each paycheck.

Benefits of Adjusting Your W-4

More Money in Your Paycheck: You’ll have access to your earnings throughout the year, instead of waiting for a refund.
Smarter Financial Planning: With more cash on hand, you can plan for big expenses or invest to grow your wealth.
Reduce Financial Stress: Eliminate the risk of overpaying and reclaim control over your money.

Now is the perfect time to act! By adjusting your W-4 today, you can stop overpaying the IRS and make your money work for you. Don’t wait for tax season to roll around again—start maximizing your paycheck now.

Quote of the Week

“A bird does not sing because it has an answer. It sings because it has a song.”
Chinese Proverb

Not everything you do needs to be justified, monetized, or explained.

This quote reminds you to create for the joy of it. Speak from the heart. Express what’s inside you – not to be right, but to be real.

Your voice matters. Even if no one claps. Even if no one understands. Sing anyway.

These pretzels are making me thirsty…

This is re-published from the weekly email sent by Leonard Mack entitled The Propeller. To subscribe, visit https://www.LeonardMack.com/subscribe and read it every Sunday evening.

This intellectual nourishment is intended for informational purposes only. One should not construe anything herein as being legal, tax, investment, financial, or other advice.

My rule is this – I have no advice to give, only experience to share. I have no interest in being a guru or telling people what they should do. Rather, I share my own experience because there is no right or wrong. Your mileage may vary.

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