Did I “keep the trains running on time” in 2020? Yes
Do I know how I measure my performance? Yes
How was my performance? Satisfactory
Overall grade: A- (I wasn’t aggressive enough in the markets at the bottom)
Time for my first thread of 2021: Today, How I Measure Myself: a 2020 Report!
With some related thoughts on evaluating management and picking investment managers.
Important note: underlying everything that follows is integrity and trust. Without that, nothing matters.
Did I “keep the trains running on time” in 2020? Yes
Do I know how I measure my performance? Yes
How was my performance? Satisfactory
Overall grade: A- (I wasn’t aggressive enough in the markets at the bottom)
Emotional investment decisions tend to be bad investment decisions, but passion keeps somebody in the game - especially when things get difficult
Equally true for investment managers and company management.
Don’t want:
For example, any CEO’s (or investors) job is to allocate capital. Do they measure their effectiveness at allocating capital? How?
Don’t want: “Just need more money”
Few are excellent at both. For example, asset allocation vs trading. Or looking at different asset classes.
Am I humble enough to admit where my circle of competence ends? Do I partner/hire - especially outside that?
2020 grade: A
Important Note: Are incentives aligned up and down the organization for everyone’s success? Are these incentives clearly communicated?
Don’t want:
AKA: Am I humble enough to continue learning? Am I courageous enough to put innovations into practice?
2020 Grade: C+
I was adequate on the learning side (thanks to many of you), but I let fear prevent me from taking more risk.
For Me:
Incremental vs Exponential decisions/action
What kind of manager am I talking too? Is the incrementalism willing open to exponential threats/opportunities (and vice versa)?
Am I aligned with their philosophy?
Do I want?
It’s a big world out there. Am I a good husband/father/grandfather/friend and citizen? Do I genuinely try to help people?
Do I try to deepen and relationships that are important to me?
2020 Grade: A-
I’m not really into ESG investing, but I do believe in “do well by doing good.”
I don’t think that’s the reason to “do good” but I do believe doing good is simply the right thing.
The best success I’ve had with resolutions/goals/performance metrics has been with things that CAN’T be measured with a number.
Performance evaluation is more art than science
H/t @katiepwilles 😂😂😂
I’ve already failed one 2021 goal: eliminating my twitter typo’s, etc.
I can be better, and I will be better!
Here’s to 2021!
More from Life
“We don’t negotiate salaries” is a negotiation tactic.
Always. No, your company is not an exception.
A tactic I don’t appreciate at all because of how unfairly it penalizes low-leverage, junior employees, and those loyal enough not to question it, but that’s negotiation for you after all. Weaponized information asymmetry.
Listen to Aditya
And by the way, you should never be worried that an offer would be withdrawn if you politely negotiate.
I have seen this happen *extremely* rarely, mostly to women, and anyway is a giant red flag. It suggests you probably didn’t want to work there.
You wish there was no negotiating so it would all be more fair? I feel you, but it’s not happening.
Instead, negotiate hard, use your privilege, and then go and share numbers with your underrepresented and underpaid colleagues. […]
Always. No, your company is not an exception.
A tactic I don’t appreciate at all because of how unfairly it penalizes low-leverage, junior employees, and those loyal enough not to question it, but that’s negotiation for you after all. Weaponized information asymmetry.
Listen to Aditya
"we don't negotiate salaries" really means "we'd prefer to negotiate massive signing bonuses and equity grants, but we'll negotiate salary if you REALLY insist" https://t.co/80k7nWAMoK
— Aditya Mukerjee, the Otterrific \U0001f3f3\ufe0f\u200d\U0001f308 (@chimeracoder) December 4, 2018
And by the way, you should never be worried that an offer would be withdrawn if you politely negotiate.
I have seen this happen *extremely* rarely, mostly to women, and anyway is a giant red flag. It suggests you probably didn’t want to work there.
You wish there was no negotiating so it would all be more fair? I feel you, but it’s not happening.
Instead, negotiate hard, use your privilege, and then go and share numbers with your underrepresented and underpaid colleagues. […]
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Joshua Hawley, Missouri's Junior Senator, is an autocrat in waiting.
His arrogance and ambition prohibit any allegiance to morality or character.
Thus far, his plan to seize the presidency has fallen into place.
An explanation in photographs.
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Joshua grew up in the next town over from mine, in Lexington, Missouri. A a teenager he wrote a column for the local paper, where he perfected his political condescension.
2/
By the time he reached high-school, however, he attended an elite private high-school 60 miles away in Kansas City.
This is a piece of his history he works to erase as he builds up his counterfeit image as a rural farm boy from a small town who grew up farming.
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After graduating from Rockhurst High School, he attended Stanford University where he wrote for the Stanford Review--a libertarian publication founded by Peter Thiel..
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(Full Link: https://t.co/zixs1HazLk)
Hawley's writing during his early 20s reveals that he wished for the curriculum at Stanford and other "liberal institutions" to change and to incorporate more conservative moral values.
This led him to create the "Freedom Forum."
5/
His arrogance and ambition prohibit any allegiance to morality or character.
Thus far, his plan to seize the presidency has fallen into place.
An explanation in photographs.
🧵
Joshua grew up in the next town over from mine, in Lexington, Missouri. A a teenager he wrote a column for the local paper, where he perfected his political condescension.
2/
By the time he reached high-school, however, he attended an elite private high-school 60 miles away in Kansas City.
This is a piece of his history he works to erase as he builds up his counterfeit image as a rural farm boy from a small town who grew up farming.
3/
After graduating from Rockhurst High School, he attended Stanford University where he wrote for the Stanford Review--a libertarian publication founded by Peter Thiel..
4/
(Full Link: https://t.co/zixs1HazLk)
Hawley's writing during his early 20s reveals that he wished for the curriculum at Stanford and other "liberal institutions" to change and to incorporate more conservative moral values.
This led him to create the "Freedom Forum."
5/
These 10 threads will teach you more than reading 100 books
Five billionaires share their top lessons on startups, life and entrepreneurship (1/10)
10 competitive advantages that will trump talent (2/10)
Some harsh truths you probably don’t want to hear (3/10)
10 significant lies you’re told about the world (4/10)
Five billionaires share their top lessons on startups, life and entrepreneurship (1/10)
I interviewed 5 billionaires this week
— GREG ISENBERG (@gregisenberg) January 23, 2021
I asked them to share their lessons learned on startups, life and entrepreneurship:
Here's what they told me:
10 competitive advantages that will trump talent (2/10)
To outperform, you need serious competitive advantages.
— Sahil Bloom (@SahilBloom) March 20, 2021
But contrary to what you have been told, most of them don't require talent.
10 competitive advantages that you can start developing today:
Some harsh truths you probably don’t want to hear (3/10)
I\u2019ve gotten a lot of bad advice in my career and I see even more of it here on Twitter.
— Nick Huber (@sweatystartup) January 3, 2021
Time for a stiff drink and some truth you probably dont want to hear.
\U0001f447\U0001f447
10 significant lies you’re told about the world (4/10)
THREAD: 10 significant lies you're told about the world.
— Julian Shapiro (@Julian) January 9, 2021
On startups, writing, and your career:
