My Notes
Innovation is insufficient for success. Great ideas require execution in the form of discipline and creativity to succeed.
Empirical validation lets leaders take actions that look risky and ill-advised to outsiders but have low risk and high exposure to favorable outcomes.
Discipline is most difficult but most effective when you resist the tendencies of your peers.
Always preparing for the worst equips leaders to endure unseen, unfavorable events.
Consistency is uncomfortable. Holding back when you’re excelling and maintaining course when situations become more difficult both require mental fortitude.
Empirical tests have a few key characteristics. They are cheap relative to the scope of your enterprise, have minimal consequences if they go awry, and do not distract from your core mission.
Tests inform your biggest bets. Much like dating informs your monumental choice on who to marry.
You can’t grow if your enterprise goes to zero. Avoid risk that entails perishing no matter how attractive the possibilities.
Luck does not matter as much as how responsive you are to luck, good or bad.