It’s easy to have a culture of taking risks when you have unlimited revenue. What’s amazing to me is how timid companies get when there’s limited resources. Instead of making another big bet to get back on the revenue train, they chase trends. Like Google getting caught off guard on AI and now chasing that instead of leading here or elsewhere. I don’t know the answer. Part of the problem is you went from company lead…
This is a variant of the principal-agent problem.
Thaler's book is titled "Misbehaving" -- well worth listening to the audiobook if you have a commute!