Menu

Knowledge and productivity are like compound interest

Now for the matter of drive. You observe that most great scientists have tremendous drive. I worked for ten years with John Tukey at Bell Labs. He had tremendous drive. One day about three or four years after I joined, I discovered that John Tukey was slightly younger than I was. John was a genius and I clearly was not. Well I went storming into Bode’s office and said, “How can anybody my age know as much as John Tukey does?” He leaned back in his chair, put his hands behind his head, grinned slightly, and said, “You would be surprised Hamming, how much you would know if you worked as hard as he did that many years.” I simply slunk out of the office!

What Bode was saying was this: “Knowledge and productivity are like compound interest.” Given two people of approximately the same ability and one person who works ten percent more than the other, the latter will more than twice outproduce the former. The more you know, the more you learn; the more you learn, the more you can do; the more you can do, the more the opportunity – it is very much like compound interest. I don’t want to give you a rate, but it is a very high rate. Given two people with exactly the same ability, the one person who manages day in and day out to get in one more hour of thinking will be tremendously more productive over a lifetime. I took Bode’s remark to heart; I spent a good deal more of my time for some years trying to work a bit harder and I found, in fact, I could get more work done. I don’t like to say it in front of my wife, but I did sort of neglect her sometimes; I needed to study. You have to neglect things if you intend to get what you want done. There’s no question about this.

From The Art of Doing Science and Engineering: Learning to Learn by Richard W. Hamming, via Marginal Revolution.

I never thought about it this way, in terms of compound interest, but I have felt that there was an advantage to writing every day for an hour, that it was much more effective than writing only a couple times a week or just writing when “inspiration” (hah) strikes.

The hardest and in my opinion, most important, part of filmmaking is the script (improvised work aside), so it makes sense to me that that’s where you would want to focus your most precious energy and time, day in and day out, because that’s where the biggest returns will be. The ratio of (indie) films with good production value but poor writing to great scripts with poor production value is very high in my opinion. This seems somewhat backwards to me, as production value costs a lot of money but writing costs only time and most of us are broke or don’t have access to a lot of money, but we can all squeeze out an hour a day to write, if we look hard enough. Not that I’ve written anything great yet.