Exploring how challenging times like wars and pandemics have historically driven significant innovation, this chapter highlights the role of intense incentives in pushing businesses to become more productive and innovative. Drawing parallels with past crises and examining the potential innovations spurred by the COVID-19 pandemic, it emphasizes the impact of downside incentives in fostering accelerated progress and technological advancements.
Morgan Housel is a partner at The Collaborative Fund, an investor and an author.
The world continues to change, but the hairless apes that inhabit it stay the same. So there must be some laws of human psychology which remain true, no matter what time and place you're in, and today we get to go through some of the most fascinating ones.
Expect to learn what reasonable optimism looks like, the difference between overnight tragedies and long term miracles, what we can learn by the divorces of the richest men on the planet, how people become victims of perfection, why most competitive advantages eventually die and much more...
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