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This might be covered by Putt's "Law of Failure": "Innovative organizations abhor little failures but reward big ones" and its corollary "Failure to fail fully
by digisth 12y ago
This might be covered by Putt's "Law of Failure": "Innovative organizations abhor little failures but reward big ones" and its corollary "Failure to fail fully is a fool's folly." His point was that innovative orgs will look at someone who "went big" and failed as someone who now knows a problem inside and out, and has walked through the fire so is now better equipped to deal with than anyone else (and so might succeed this time.)
- antr 12y agoMy comment is not about failure, it's about what is wrong with wall st's crony capitalism. this has nothing to do with failure, but about the lack of values, and the damage this has done to the world economy at so many levels.
- digisth 12y agoCertainly not arguing with any of your points; I'm saying the things that happened could rightly be construed by investors as types of failure (e.g., "Citigroup wrote-off the entire fund") which is one of the reasons the law might apply. I'm talking about perception from a particular perspective, not the ethics.
- antr 12y agoI understand what you mean, and agree to a very large extent with the that line of thought. My concerns with Pandit are not so much on failure, but fraud and mismanagement.