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I suspect the personality trait of “willingness to break rules” is somewhat correlated with the success of creating large new companies (particularly in congest
by Closi 4y ago
I suspect the personality trait of “willingness to break rules” is somewhat correlated with the success of creating large new companies (particularly in congested markets).
It’s not as important in a new market, but if you are in a fiercely competitive market (eg real estate) some rule breaking to advance you against the competitors is probably helpful to make a billion dollar company.
I.E. Uber, Deliveroo, WeWork etc might not be the hugely valuable companies they are today if they didn’t break the rules, regardless of how morally wrong that might be.
- solarkraft 4y agoWe keep rewarding the wrong behavior ...
- badpun 4y ago> I.E. Uber, Deliveroo, WeWork etc might not be the hugely valuable companies they are today if they didn’t break the rules, regardless of how morally wrong that might be. It yet remains to be seen whether they are a "hugely valuable companies" or just smoke and mirrors for gullible investors in an era of almost free credit.
- Closi 4y agoThe value of a company is effectively just what someone is willing to pay for it, with their assumption of future cash flows incorporated (discounted). So they are absolutely valuable.
- badpun 4y agoRight now. The tulips during tulip mania very also extremely valuable. Let's see in 10 years from now.
- Closi 4y agoJust because something isn’t necessarily valuable in the future doesn’t mean that it isn’t valuable now. (ie something is valuable if you can sell it right now for a lot of money - so all these companies are highly valuable).
- plorkyeran 4y agoI am fairly confident that I or pretty much anyone you grab off the street can turn $22B into a $4B company without breaking the rules.
- Closi 4y agoOk, you go get $22B then :) Once you have got the $22B you have probably already done most of the incredibly ‘bold’ parts you need to do to set the company off.