Matthew Giampetroni

The frenetic build-up of bubbles and their violent collapse provides some of the purest examples of the mimetic process—they crystallize fear, hope, hype, overconfidence, or under-confidence

Firms should invest in innovation while cutting losses when a strategy is unlikely to pay off. This is an explicit recognition of the value of quitting

The exceptional (sometimes criticized) margins at Louis Vuitton did not arise from excessively high prices, but from the removal of all costs and damages due to intermediaries. Louis Vuitton’s competitiveness

was therefore structural”

A more suitable mindset is that capital is accessible but comes at a cost...

many executives act as if the cash that the business generates is essentially free. The right mindset is that all capital, whether from an internal or external source, has an opportunity cost. 

The primary job of senior management is to create value over the long term.

Beyond deliberately architecting the people who surround you, the best way to control your mindset is to “own” the way you speak to yourself, what sports psychologists call your “self-talk”

Most people are rather confident of their ability to recognize bullshit and to avoid being taken in by it