Things with Convex Payoffs

• Tags:: #Tweet, Career Tips

• Link:: https://twitter.com/cgst/status/1359668906567163906?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1359668907343179778%7Ctwgr%5E%7Ctwcon%5Es2_&ref_url=https%3A%2F%2Froamresearch.com%2F%2Fapp%2Fdr___mario_second_brain

• Highlights::

  • Once you think of ^^payoff as a stochastic process,^^ in which intrinsic skill is just one factor, then you start to understand what nudges the process in the right direction, and what doesn’t make a difference.

  • Things with convex payoffs:

• Reputation that puts you on the radar of smart people

• Strong network

• Valuable information flow

• Starting companies

• Joining fast-growing companies early

• Expertise in high-growth industries

• Trying new things and cutting losses

• Integrity

  • Things with marginal payoff:

• “Meeting” vs “exceeding” 2021 Q1 perf expectations

• Getting a bonus

• Jockeying for favorable peer reviews

• Pleasing your peers, manager, execs

• Mastering idiosyncratic bureaucracy and processes

• Learning a new language, framework, stack, etc.