From 600+ conversations with the world’s leading thinkers.
Firstly, pay has to be high enough to give people agency in their own lives and secondly, humans have to be treated like humans. Those are the minimum conditions for good jobs – there also needs to be a career path that enables people to learn and grow in their jobs.
I've done a few very-right things in my life that I'm proud of, and one of them was getting to know Joey and bringing him into the business. Joey was a gift, and we knew we shouldn't miss out on him.
We adopted in Portugal a National Strategy for Entrepreneurship: Startup Portugal. A strategy that aims to make Portugal the ideal space to create, test, fail and try again.
I think Apple is preposterously undervalued. Apple has this mind-boggling margin structure, phenomenal consumer brand, and is accumulating mountains of cash. I joked on television that they should lever up and buy Greece! They have something like 7x cash-flow.
Systems change is slow because it requires consensus that there is a system failure to start with, as well as the presence of a viable alternative. This requires a combination of culture shift, behavioral change, and structural change to ultimately change the rules of the game.
One of the biggest myths in startup-land is this idea that the pinnacle of startups is building a venture-scale company, backed by venture capital, growing exceptionally fast and being OK with high failure rates as a result; in other words, returning a significant amount of capital to an investor rather than any other outcome.
Much jitteriness in this recent crisis has come down to 'flying blind' – where investors and risk managers have been caught somewhat unaware, and do not have the visibility to make decisions with support.
What's remarkable about Israel's economy is that in the last few years we have situations which, in any other country, would have been totally disruptive. The incredible thing is that none of these threats have a measurable impact on our economy!
The average is the enemy of the marketer, because it actually disguises what you really need to know, which is the outliers, the unusual use cases, the anecdotal eccentricity, where most of the really valuable information lies.
In our paper we report an 86% accuracy in predicting the up and down movements in the Dow Jones three or four days out. The question is how you turn that into a money making strategy. It could be- for example- that you lose ALL your money in that other 14%!
Risk is actually an asset. Fear isn't meant to be dismissed; it's intended to be embraced. Fear sharpens your focus, enhances your performance, and boosts your resilience. This is something many haven't realised—fear is a superpower meant to be embraced, not avoided.
To have a career, you have to be able to break out of your ways of thinking about success, otherwise you'll just end up disappointed.