From 600+ conversations with the world’s leading thinkers.
In Silicon Valley there's a sense that there are 30 individuals who are 10x more capable than most people, it's like a power law scaling of talent... founders get immense leeway, capital rushes toward them... it also creates biases and situations where founders have more power than they should in their company.
Before you think about the alpha, you have to think about the client's beta.
These individuals are looking for a global liquid multi-asset portfolio that is highly correlated around risk management strategies. They don't want you taking risk! they're going to do that.. and they can do it better than you can because they're now worth hundreds of millions or billions!
We've actually gotten rid of all people managers. We don't have a single person whose job it is to manage or tell someone else what to do. Instead we've organized the entire company around work that needs to get done, and then people can have multiple roles across multiple circles, and there's a bunch of other rules and processes.
I would suggest that most dollar problems are cyclical, and when the fed reserve raises interest rates, and the business cycle re-enters an upswing, there will be many reasons to buy dollar.
The plan is the lists, milestones and responsibilities- not the document that describes them.
In order to fix bias you have to admit to them, you have to admit they exist and bring them out of the shadows. Then you can call them out. We have to stop pretending that there's no adversity, or that we can't do anything about the adversity we face.
Studies show that to get an MBA and to be a high-level executive you need to be a standard-deviation above the norm (have an IQ of 114 or more). After that, it turns out there's a negative relationship between IQ and leadership effectiveness. Perhaps because at that point people become narcissistic or egocentric.
Firstly, it's crucial to adopt a bold mindset right from the start. I advocate for setting almost unrealistic targets. This approach might seem counterintuitive, but it's essential for enabling substantial change. If we only aim for realistic targets, our efforts will be limited to minor tweaks rather than significant transformations.
Our mission is to expand the economic sphere of influence of humanity off the surface of the planet and into the solar system. Currently we have a vibrant economy in space that goes out to the geostationary belt- where the communication satellites are- and it stops.
Entrepreneurship is not for everybody, and it's also worth noting that you're not entitled to be a great entrepreneur. You're not entitled to be successful if you start a company, in fact the most likely outcome is that you won't be. Sometimes I meet founders and entrepreneurs who complain about how hard their fundraising or engineering challenges are… Guess what… yes…. It's really f***ing hard. That's the truth.
If your strategy is to do everything, you have no strategy at all.