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The Thin Line
There are so many examples of this. Countless fortunes (and failures) owe their outcome to leverage. The best (and worst) managers drive their employees as hard as they can. “The customer is always right” and “customers don’t know what they want” are both accepted business wisdom. The line between “inspiringly bold” and “foolishly reckless” can be
... See moreMorgan Housel • The Psychology of Money: Timeless lessons on wealth, greed, and happiness
"Big wins tend to be accompanied by some combination of bigger decisions, more uncertainty, and greater risk.
If you want to play at a higher level, you need to be comfortable with greater swings of highs and lows: mentally, emotionally, financially.
You can avoid the swings, but you might be forced to play at a lower level."
If you want to play at a higher level, you need to be comfortable with greater swings of highs and lows: mentally, emotionally, financially.
You can avoid the swings, but you might be forced to play at a lower level."
3-2-1: Two rules for life, the power of reputation, and the peace of wild things
Research shows that success and complacency go hand in hand.44 When we succeed, we stop pushing boundaries. Our comfort sets a ceiling, with our frontiers shrinking rather than extending. Corporate executives are rarely punished for deviating from a historically successful strategy. But the risk of punishment is far greater if an executive abandons
... See moreOzan Varol • Think Like a Rocket Scientist: Simple Strategies You Can Use to Make Giant Leaps in Work and Life
Overconfidence and AI
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