Monday, April 2, 2018
Away from the poker table, we don't feel or experience the consequences of most of the decisions we make right away. If we are winning or losing to a particular decision, the consequences may take time to reveal themselves. If we make a losing decision, like substituting SnackWell's for apples, there's no immediate outcome that lets us know there might have been a cost to that choice. If we repeat that kind of decision enough, there will be consequences, but they take time to play out. In business, if a leader ignores the ideas of an intern because "What does an intern possibly know?" it could take years for that intern to become a successful competitor before that mistake becomes obvious. If the trajectory of that business suffers because of the poverty of new ideas, the owner of the business might never realize the effect of that attitude.
Annie Duke, Thinking in Bets: Making Smarter Decisions When You Don't Have All the Facts