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Talent is not solely reliant on intelligence as there is often an overemphasis on intelligence in the evaluation of talent. Statistical measurements suggest that while a certain level of intelligence is necessary for many jobs, above that level, intelligence does not correlate well with success. Talent is a multifaceted concept that encompasses various qualities beyond intelligence, such as creativity, energy, and a positive sense of agency.
Disability does not necessarily hinder talent and can even contribute to exceptional abilities. Examples like individuals with ADHD or Asperger's (autism) who have honed these conditions to their advantage demonstrate how disabilities can be channeled in a positive way. Rather than viewing disabilities as limitations, it is important to recognize that they often contribute to unique talents and perspectives.
References can provide valuable insights into a person's capabilities and compatibility with a specific role. It is essential to ask specific and well-structured questions to gauge a reference's understanding of the candidate's strengths, weaknesses, and overall performance. While references play an important role in the evaluation process, it is crucial to interpret their feedback in conjunction with other factors and one's own judgment.
There is a complex relationship between talent and happiness. While talent and success can lead to happiness in the long run, the pursuit of constant pleasure or contentment can be counterproductive. Many talented individuals possess a default optimism and a lack of contentment, driving them to continually strive for improvement and new challenges. The focus should not solely be on happiness but on the process, embracing the elements that contribute to one's talents and sense of purpose.
Canalist provides a solution for complex model-building, condensing hours of work into a simple and efficient process. Gone are the days of manually inputting and updating models, as Canalist offers a single source of truth for accurate and detailed models. The global coverage and expanding universe of companies make it a valuable tool for those in the investment industry. The platform's ability to generate weighted consensus and its future Canvas platform further enhance its utility.
The podcast highlights the importance of accuracy and precision in models. While complex models can provide false comfort, Canalist stands out for the level of detail and precision it offers with its simple one-tab models. The ease of downloading and utilizing Canalist's models eliminates the time-consuming process of manually building and maintaining models. The ability to focus on relevant factors and reduce false precision ensures a more efficient and effective approach to investment analysis.
The discussion also touches on the challenges and opportunities in talent evaluation. Canalist's data-driven approach enables the more accurate and objective assessment of a candidate's durability, energy, and curiosity. This revolutionizes the concept of talent allocation, allowing for better alignment between job assignments and individual strengths. The development of a scoring mechanism and the potential for a by-side consensus further enhance the value of Canalist in facilitating talent evaluation and decision-making.
My guests today are Tyler Cowen and Daniel Gross. Tyler is an economics professor and creator of one of the most popular economics blogs on the internet. Daniel is the founder of start-up accelerator Pioneer, having previously been a director at Apple and a partner at Y Combinator. Both Daniel and Tyler are prolific talent spotters and that is the focus of our discussion and their new book, which is called Talent. Please enjoy this conversation with Tyler Cowen and Daniel Gross.
For the full show notes, transcript, and links to mentioned content, check out the episode page here.
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This episode is brought to you by Canalyst. Canalyst is the leading destination for public company data and analysis. If you're a professional equity investor and haven't talked to Canalyst recently, you should give them a shout. Learn more and try Canalyst for yourself at canalyst.com/Patrick.
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This episode is brought to you by Brex. Brex is the integrated financial platform trusted by the world's most innovative entrepreneurs and fastest-growing companies. With Brex, you can move money fast for instant impact with high-limit corporate cards, payments, venture debt, and spend management software all in one place. Ready to accelerate your business? Learn more at brex.com/best.
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Invest Like the Best is a property of Colossus, LLC. For more episodes of Invest Like the Best, visit joincolossus.com/episodes.
Past guests include Tobi Lutke, Kevin Systrom, Mike Krieger, John Collison, Kat Cole, Marc Andreessen, Matthew Ball, Bill Gurley, Anu Hariharan, Ben Thompson, and many more.
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Follow us on Twitter: @patrick_oshag | @JoinColossus
Show Notes
[00:02:38] - [First question] - Defining what talent is to them writ large
[00:03:34] - The differences between means and ends in regards to talent
[00:04:14] - What the Diet Coke idea is and why it’s relevant
[00:06:32] - Types of energy that are valuable and the subtle differences between them
[00:07:40] - Thoughts on using a moneyball-like approach to acquiring and evaluating talent
[00:11:49] - The talent market and thinking about pricing talent specifically
[00:13:14] - What is seemingly overpriced in today’s talent landscape
[00:15:50] - Relationship between experience and/or age when it comes to talent
[00:20:34] - Lessons about the utility of intelligence and where they’ve lead them wrong
[00:23:35] - What’s beneath being an outsider and why it’s important
[00:24:46] - Why what people do in their downtime is worth considering
[00:31:41] - Things to try and get out of a reference call as an objective
[00:32:40] - Disabilities and what lead them write that chapter specifically
[00:35:01] - Whether or not talented people are happier
[00:38:40] - Lack of contentment and it’s dynamic influence over individuals
[00:41:01] - Where they think the other is most talented
[00:43:33] - Thinking about the physical side of mental performance
[00:45:49] - What was frustrating about writing the book
[00:48:25] - How they evaluate talent most differently now after having finished the book
[00:50:41] - What makes for a good bat signal and how to cast one well
[00:53:27] - Personality inventories and what they would and wouldn’t recommend
[00:54:15] - Geographical frictions and their role in high success rates
[00:56:08] - Antonio Gracias; Existing supply constraints on talent development
[01:00:01] - How they would redesign the current attractors of talent that we rely on today
[01:01:18] - Assembly line development and how we can improve and scale talent filters
[01:02:29] - The biggest open questions for talent today writ large
[01:05:16] - The kindest thing anyone has ever done for Tyler
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