Incentives
nicole and
Incentives
Building something no one else can measure
sriramk.com
It is difficult to get a man to understand something, when his salary depends on his not understanding it.
– Upton Sinclair
“nobody ever got fired for buying IBM.”
Writely (Google Docs) | Acquired Podcast
acquired.fmOne thing I didn’t realize until later in life is how the incentives of an industry shape your mood, your outlook, and even your character. In early stage investing, the incentives reward optimists, so it literally pays to keep an optimistic outlook. In journalism, the opposite is true. In law, the incentives often reward finding the flaw or the... See more
Katherine Boylex.comTackle the Monkey First:
"Let’s say you’re trying to teach a monkey how to recite Shakespeare while on a pedestal. How should you allocate your time and money between training the monkey and building the pedestal? The right answer, of course, is to spend zero time thinking about the pedestal. But I bet at least a... See more
Incentives Drive Behaviour:
- Lawyers always want another revision (paid $500/hr)
- Realtors always want to close a sub-par deal (2% fee means a $20,000 more for you isn't worth it for them)
- Wealth Managers will always push for the structure that pays them the most - usually more raw dollars (they get paid on AUM + additional trade fees, not
... See more