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Interesting. I wonder if the concept is also applicable to startups. I would love to do a startup that wasn't execution dependent. But how would one know?
by sumanthvepa 7y ago
Interesting. I wonder if the concept is also applicable to startups. I would love to do a startup that wasn't execution dependent. But how would one know?
- nikki93 7y agoAssuming at least two of the components are "idea" and "execution," if you start with a definitely super bad idea, you'd get an execution-independent (bad) outcome.
- fovc 7y agoBuffett, on execution independence on the downside > when a management with reputation for brilliance gets hooked up with a business with a reputation for bad economics, it's the reputation of the business that remains intact. JDR, on execution independence on the upside > the best business in the world is a well run oil company. The second best business in the world is a badly run oil company.