High fidelity is a rich experience, and you'll put up with terrible convenience to get it - maybe it's high cost, waiting in line, jumping through hoops. High convenience is the opposite - it's a commodity, but it's cheap and easy and ubiquitous. A great exclusive boutique shop is high fidelity; Wal-Mart is high convenience. Both are hard to establish in their own way. The thing to remember about sustaining either is that you can't sit still. Some other entity will always find a way to challenge your fidelity position or your convenience position.

If you spot a market where the only choices are at either one end or the other - high fidelity or high convenience - there's probably a big opportunity at the other end. That was the opening for Federal Express, for instance. When it started, there was only one mail service in America - the US Postal Service, which was high convenience. Fred Smith created a high-fidelity mail service.

In the long run magazines can't be a convenience play - the Web has stolen that. So magazines have to be high fidelity - a fantastic experience - to thrive. Magazines will survive the Internet age, but only the ones that give people an experience they just can't get anywhere else. A magazine will have to be truly loved to make it.

Who "wins" and who "loses" depends on when you measure it.

If you want to stand out, find a way to be either high fidelity or high convenience in whatever you do. If you're halfway in between on both measures, you're not going to make people feel very excited about you.

Chunking is the ability of the brain to learn from data you take in, without having to go back and access or think about all that data every time. As a kid learning how to ride a bike, for instance, you have to think about everything you're doing. You're brain is taking in all that data, and constantly putting it together, seeing patterns, and chunking them together at a higher level. So eventually, when you get on a bike, your brain doesn't have to think about how to ride a bike anymore. You've chunked bike riding.

Babies have not yet chunked anything. They aren't doing any high level thinking. All they're doing is sucking in all the data they experience in the world around them, and remembering it, raw. It's basically what extreme savants have happen in their brains.