How Do Compounding Work?

When you're evaluating something, what time horizon are you actually thinking about? You don't want to get caught in the hindsight bias. There is this thing you have to teach yourself because it's not instinctive and it's certainly something that we weren't wired up with statistical minds. And I found entrepreneurs that focus on the background ambition at the expense of the short term lose their teams. It doesn't allow for that sort of natural expression. Many of the challenges we have, ironically, are with companies that have childhood actor syndrome where boom, it happened.

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