Clearer Thinking with Spencer Greenberg How can you tell if you're cut out for entrepreneurship? (with Matt Clifford)
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Apr 5, 2023 In this engaging conversation, Matt Clifford, cofounder and CEO of Entrepreneur First, shares insights into entrepreneurship and innovation. He discusses the concepts of variance-amplifying versus variance-dampening institutions and how the internet has shaped societal ambition. Matt emphasizes key traits for aspiring entrepreneurs, such as resilience and problem-solving. The conversation also delves into the evolution of ambition and the impact of AI on entrepreneurship, questioning how true innovation is measured in today's fast-paced environment.
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Variance Amplifying Institutions
- The internet amplifies extreme behavior, making the world seem weirder.
- This variance amplification increases the payoff for extreme actions, changing societal incentives.
Elon Musk vs. JP Morgan
- Elon Musk's behavior is amplified and rewarded by the internet, unlike past figures like JP Morgan.
- This reflects a shift in societal incentives, where extreme behavior is encouraged.
Entrepreneurship vs. Traditional Careers
- Traditional careers act as ambition shock absorbers, offering a structured path to influence and wealth.
- Entrepreneurship, however, is unstructured, leading to a different type of elite less focused on conformity.
