This link has been bookmarked by 67 people . It was first bookmarked on 25 Mar 2008, by KO -.
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19 Jan 14
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17 Jun 09
Kore7As a company grows, stock options and other forms of equity-based motivation become less and less useful as an incentive tool, since it becomes harder for many employees in a large company to see how their individual behavior would have any effect on the
to_read management startup entrepreneur incentives bonuses compensation stocks business andreesen imported
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Lasting ImpressionAs a company grows, stock options and other forms of equity-based motivation become less and less useful as an incentive tool, since it becomes harder for many employees in a large company to see how their individual behavior would have any effect on the stock price of the overall corporation. So, more tactical incentives kick in, such as cash bonuses.
The design of tactical incentives -- e.g. bonuses -- is a whole topic in and of itself, and is critically important as your company grows. The most significant thing to keep in mind is that how the goals are designed really matters -- as Mr. Munger says, people tend to game any system you put in place, and then they tend to rationalize that gaming until they believe they really are doing the right thing.to_read management startup entrepreneurship incentives bonuses compensation stock business andreesen
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17 Sep 08
Mr. Munger's magnum opus speech, included in the book, is The Psychology of Human Misjudgment -- an exposition of 25 key forms of human behavior that lead to misjudgment and error, derived from Mr. Munger's 60 years of business experience. Think of it as a practitioner's summary of human psychology and behavioral economics as observed in the real world.
In this series of blog posts, I will walk through all 25 of the biases Mr. Munger identifies, and then adapt them for the modern entrepreneur. In each case I will start with relevant excerpts of Mr. Munger's speech, and then after that add my own thoughts. -
25 Jul 08
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31 May 08
Brian G. DowlingIn this series of blog posts, I will walk through all 25 of the biases Mr. Munger identifies, and then adapt them for the modern entrepreneur. In each case I will start with relevant excerpts of Mr. Munger's speech, and then after that add my own thoughts.
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In this series of blog posts, I will walk through all 25 of the biases Mr. Munger identifies, and then adapt them for the modern entrepreneur. In each case I will start with relevant excerpts of Mr. Munger's speech, and then after that add my own thoughts.
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24 Apr 08
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The Psychology of Human Misjudgment
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15 Apr 08
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14 Apr 08
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10 Apr 08
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06 Apr 08
Piers Younga practitioner's summary of human psychology and behavioral economics as observed in the real world.
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02 Apr 08
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30 Mar 08
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29 Mar 08
Patrick DevlinGreat post from Marc on entrepreneurship, start-ups, owners, emotions, psychology
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PatrickGreat post from Marc on entrepreneurship, start-ups, owners, emotions, psychology
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28 Mar 08
G WMarc Andreessen, technology entrepreneur, Internet, Mosaic, Netscape, Opsware, Ning
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Gary Edwardsexcellent post from Marc Andressen on Charlie Munger's Management Advice Book
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Charlie Munger is an 80-something billionaire who cofounded top-tier law firm Munger, Tolles & Olson and is Warren Buffett's long-time partner and Vice-Chairman at Berkshire Hathaway, one of the most successful companies of all time.
Some people, including me, consider Mr. Munger to be an even more interesting thinker and writer than Mr. Buffett, and recently a group of Mr. Munger's friends assembled a compilation book of his most interesting thoughts and speeches called Poor Charlie's Almanack, inspired by Ben Franklin's Poor Richard's Almanack. (The Munger book is only available on Amazon in used form, although you can apparently buy a new copy here.)
Mr. Munger's magnum opus speech, included in the book, is The Psychology of Human Misjudgment -- an exposition of 25 key forms of human behavior that lead to misjudgment and error, derived from Mr. Munger's 60 years of business experience. Think of it as a practitioner's summary of human psychology and behavioral economics as observed in the real world.
In this series of blog posts, I will walk through all 25 of the biases Mr. Munger identifies, and then adapt them for the modern entrepreneur. In each case I will start with relevant excerpts of Mr. Munger's speech, and then after that add my own thoughts.
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26 Mar 08
ken meecean exposition of 25 key forms of human behavior that lead to misjudgment and erro
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25 Mar 08
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ken .Summary of Charlie Munger's book - Reward/Punishment (Franklin's "to persuade, appeal to interest and not to reason"), Liking/Loving, Disliking/Hating (problems inside are big), Doubt Avoidance, Inconsistency-Avoidance, Curiosity
brain business cognitive decision economics entrepreneurship management psychology
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