Time Horizons:
Just as building a hard co is easier in some ways than building an easy co (it's easier to recruit top talent for a hard co)—
It's easier to optimize for the long-term than it is for the short-term (the best people are long-term players, so you self-select them)
Just as building a hard co is easier in some ways than building an easy co (it's easier to recruit top talent for a hard co)—
It's easier to optimize for the long-term than it is for the short-term (the best people are long-term players, so you self-select them)
Either your company fails fast, or all of your problems become in some way about managing growth.
Your time horizons are proportional to company age.
When you're 3 month old, you think 3 months ahead.
When you're 3 yrs old, you think 3 yrs ahead.
Next 90 days & next 10 years.
Your time horizons are proportional to company age.
When you're 3 month old, you think 3 months ahead.
When you're 3 yrs old, you think 3 yrs ahead.
Next 90 days & next 10 years.
These time horizons affect the people you hire:
When you're 3 months old, you need to hire people who can come in and contribute right away. You don't have the luxury of not doing so.
When you're 3 years old, you can take more bets on people who will mature overtime.
When you're 3 months old, you need to hire people who can come in and contribute right away. You don't have the luxury of not doing so.
When you're 3 years old, you can take more bets on people who will mature overtime.
Big companies often get disrupted because they optimize over short-term (the customers right in front of them) over the long term (customer segments that are growing, or ones that don't even exist yet).
Politics suffers from short-term thinking too, particularly in the U.S.
China for example has a more competent government because they're able to prioritize long-term projects
Our structure, while it prevents chaos & descent into anarchy, also prevents competence & long-termism
China for example has a more competent government because they're able to prioritize long-term projects
Our structure, while it prevents chaos & descent into anarchy, also prevents competence & long-termism
Don't misapply long-term thinking tho
Many ppl make the mistake of putting off what they really want to do b/c they think doing something else will help them long-term (i.e joining a company if they want to start one, or building optionality via a brand)
Many ppl make the mistake of putting off what they really want to do b/c they think doing something else will help them long-term (i.e joining a company if they want to start one, or building optionality via a brand)
