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#405 – Jeff Bezos: Amazon and Blue Origin
Lex Fridman Podcast
Skeptical View of Proxies in Business Metrics
In business, there is a risk of developing metrics that become proxies for the truth over time, losing sight of the actual underlying factors they were meant to represent. This occurs when metrics are adopted without a clear understanding of their original purpose and relevance. The danger lies in managing the business based on metrics that may have lost their significance due to changes in the business environment. To counter this, it is crucial to constantly re-evaluate metrics, ensuring they accurately reflect the desired outcomes and not falling into the trap of managing the business based on outdated or misunderstood proxies.
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