Incentives

“nobody ever got fired for buying IBM.”

Tackle 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

33% of British criminals were dying en route to Australia in the 1700s.

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Britain switched from paying sea captains for every passenger who walked on the ship to paying them for every passenger who walked off. Immediately, the survival rate shot up to 99%.

It is difficult to get a man to understand something, when his salary depends on his not understanding it. – Upton Sinclair

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

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