We should all have ego, but we should not be ego-driven in critical decision-making. We should be unpacking our behavioral biases constantly, and finding ways of mitigating them. I think those are examples where that screaming red flag of things that are structural that just provide a very poor future forecast for that company’s ability. Even if you were to fix it, if you don’t fix that psychological tendency, that framework for decision-making, it’s going to fail.
https://www.youtube.com/watch?v=Nqy6CcU84Xs (34:30)
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Ego