"Live Players" with Samo Burja and Erik Torenberg

Dynasties, Meritocracies, and Succession

49 snips
Jan 17, 2024
The podcast discusses the challenges of dynasties and succession, flaws in meritocracy systems, the transfer of success and status between generations, the benefits of using Shopify as a global commerce platform, influential families like the Lee family of Samsung and the Wallenberg family of Sweden, and the unique succession system in South Korea.
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INSIGHT

Dynastic Succession & Informal Power

  • Dynastic succession can effectively transfer informal power, like connections and reputation, which are crucial for some roles.
  • Formal merit-based systems often fail to capture these informal aspects, hindering organizational success.
INSIGHT

The Pitfalls of Meritocracy

  • Meritocratic systems, like standardized testing, can be gamed over time, losing their effectiveness (Goodhart's Law).
  • The Ivy League system exemplifies this, with students tailoring their profiles to get in rather than focusing on genuine merit.
ANECDOTE

NYT's Dynastic Digital Transition

  • The New York Times, under the Sulzberger family, successfully transitioned to digital despite initial resistance.
  • Their dynastic structure allowed a young, digitally literate leader to take charge, facilitating this crucial shift.
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