Meritocracy
falls for magic tricks. I 100% agree that incentives matter. That we need to
systemically reward people who strive to increase their skill level by
progressively increasing the challenge. This marriage of Challenge and Skill
was named “Flow” by Mihály Csíkszentmihályi in 1975.
Meritocracy, on the other hand, tends to look at just one side of the Balance
Sheet. Fooled by the Assets because the Liabilities are hidden. Fundamental
Investing is the idea that what something does matters. Not at a superficial
level, but beneath the hood. You can make a small fortune by starting with a
big one, but that is not a good investment strategy. Meritocracy misses the point
if it falls for the magic of big fortunes. You need to be able to see through
the smoke and mirrors. You need to see the underlying spark of creativity. That
starts by seeing people as people. Whose surface matters, but on the edge of
deep and complicated stories – supported by where they were born, how they were
nurtured, and who is part of their world.
No comments:
Post a Comment