Nobody reads the disclosures that roll down your computer screen. You click 'I agree' but you don't know what you're agreeing to.
Nassim Nicholas TalebRead
You have family-owned businesses that have been around for 500 years. You cannot name a corporation that survives intact for even a few decades.
Interpretation
Family-owned businesses often have greater resilience and longevity compared to corporations.
Nassim Nicholas Taleb highlights the enduring nature of family-owned businesses, suggesting that their foundation in trust and heritage enables them to survive and thrive across generations, unlike many corporations that struggle to maintain their integrity and identity over time. This highlights the importance of family values and the strength derived from deep-rooted relationships in achieving longevity in the business world.
In practice
In a speech about entrepreneurship, one might say, 'Look at family-owned businesses that have thrived for centuries.'
Nobody reads the disclosures that roll down your computer screen. You click 'I agree' but you don't know what you're agreeing to.
Fragility is the quality of things that are vulnerable to volatility.
Those who were unlucky in life in spite of their skills would eventually rise. The lucky fool might have benefited from some luck in life; over the longer run he would slowly converge to the state of a less-lucky idiot. Each one would revert to his long-term properties.
Individuals should think about the worst-case scenarios and plan for them. The world will be crazier than you think it will be. Put money away, and then you can live with much more freedom.
A good maxim allows you to have the last word without even starting a conversation.
A Stoic is someone who transforms fear into prudence, pain into transformation, mistakes into initiation, and desire into undertaking.
Entrepreneurs have only the murkiest picture of the future in which they are making their bets, and also there is ambiguity: they don't know when they push this lever or that lever that the outcome is going to be what they think it is going to be - there is the law of unanticipated consequences.
The game business reinvents itself every five years.
When we started the e-commerce, nobody believed that China would have e-commerce because people believed in 'guang-shi,' face-to-face, and all kinds of network in traditional ways. There's no trust system in China.
It turns out that people - in every country in the world, there's a segment of buyer that wants the best product and the best experience. And that's what we're about providing.
There's a fundamental distinction between strategy and operational effectiveness.
Hierarchy is an organization with its face toward the CEO and its ass toward the customer.
Subscribe for the occasional hand-picked quote. No noise.