And - the most corrupt banker in the region was a man from England who came from a Western NGO. He netted on the order of $17 million for himself taking kickbacks and bribes.
I tend to agree with him about NGOs. I worked in Central Asia for 5 years. I saw intense corruption and great damage from NGOs.
Examples: Red Cross and Drs w/out Borders being used by insurgents as a free medical care for themselves and the locals. This includes complete survival infrastructure. Without that, the wars would have been over long ago.
Western NGO staffers teaching need for fair taxes. But NGOs have a law that exempts them from taxes while staff make 3X-10X locals good wage.
It's interesting to note that "Me too!" is the REASON why venture capital doesn't make far more money than it does. Because venture capitalists are lemmings who jump into the "hot sector" they GUARANTEE that most bets in the sector will fail because every sector has limits.
But, he is basically right. Years ago my team was the first in the world to make a full-scale factory automation system work. A team of 4 math PhDs told us that they had spent 10 years working on the body-bank remix algorithm and had proved it was impossible. We solved it in 6 months by changing the rules. We simply backed up the algorithm to include initial scheduling of the automobile to be built in the first place.
He has some good ideas. But there are holes. For example, he says that the balancing between bonus for killing your own project and keeping it is emotional investment. This is false. The balance is the present value of the bonus versus the risk assessment of the probability of having a job in the future.
He has the story about DOS and IBM quite wrong. Microsoft got the contract to write OS/2 and convinced Cannavino they should write it in assembler. This was a deliberate strategy to damage IBM. Microsoft used the OS/2 project as the farm for engineers for their own NT project. NT was the from-scratch rewrite and it was done in C/C++. This allowed Microsoft to come out with NT and by the time IBM figured out the dirty trick, it took too many years to catch up.
This guy is a good public speaker, but I think he knows nothing of innovation. Innovation doesn't come out of a "culture of innovation". It comes from individuals, usually who work alone or in a very small group, and have no respect for anyone's "culture" or "environment". You can't peer-pressure people into being innovative. It's something that originates in the soul of an individual.
@jonathanaconway Hmm after listening to the speech, I guess he has some good points, and would probably somewhat agree with some of what I said above.
Thank you for this! I will be re-watching this several times to relearn how to accomplish the goals I have set for myself. It is so true that rebuilding creates innovation.
Fantastic presentation... Thank you!
Michael Evingham
Natural Current com
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NaturalCurrentSavior 2 weeks ago in playlist Uploaded videos
Fascinating stuff. My favorite bits:
15:20-20:00 on taking lots of little bets
38:20-43:15 on saying no to 99% of new things
bobryskamp 4 months ago
+1 - Creating an instance is "me-too". Innovation is creating a new class. (59:00)
rolandtritsch 5 months ago
And - the most corrupt banker in the region was a man from England who came from a Western NGO. He netted on the order of $17 million for himself taking kickbacks and bribes.
This sort of thing was pervasive.
ellenjhunt 6 months ago
I tend to agree with him about NGOs. I worked in Central Asia for 5 years. I saw intense corruption and great damage from NGOs.
Examples: Red Cross and Drs w/out Borders being used by insurgents as a free medical care for themselves and the locals. This includes complete survival infrastructure. Without that, the wars would have been over long ago.
Western NGO staffers teaching need for fair taxes. But NGOs have a law that exempts them from taxes while staff make 3X-10X locals good wage.
ellenjhunt 6 months ago
I can think of several instances in biotech where fantastic innovations have not gone anywhere for totally different reasons than he discusses.
He is quite wrong when he says "Dr.s aren't supposed to use it." Off-label is 60% of all pharma. Dr's are allowed to do it!
The "torturing themselves" bit is classic entrepreneurship talk. It's the "pain" thing. (Yes, I taught MBAs for 6 years.)
ellenjhunt 6 months ago
It's interesting to note that "Me too!" is the REASON why venture capital doesn't make far more money than it does. Because venture capitalists are lemmings who jump into the "hot sector" they GUARANTEE that most bets in the sector will fail because every sector has limits.
ellenjhunt 6 months ago
But, he is basically right. Years ago my team was the first in the world to make a full-scale factory automation system work. A team of 4 math PhDs told us that they had spent 10 years working on the body-bank remix algorithm and had proved it was impossible. We solved it in 6 months by changing the rules. We simply backed up the algorithm to include initial scheduling of the automobile to be built in the first place.
ellenjhunt 6 months ago
He has some good ideas. But there are holes. For example, he says that the balancing between bonus for killing your own project and keeping it is emotional investment. This is false. The balance is the present value of the bonus versus the risk assessment of the probability of having a job in the future.
ellenjhunt 6 months ago
He has the story about DOS and IBM quite wrong. Microsoft got the contract to write OS/2 and convinced Cannavino they should write it in assembler. This was a deliberate strategy to damage IBM. Microsoft used the OS/2 project as the farm for engineers for their own NT project. NT was the from-scratch rewrite and it was done in C/C++. This allowed Microsoft to come out with NT and by the time IBM figured out the dirty trick, it took too many years to catch up.
ellenjhunt 6 months ago
50:55 is epic
dskloet 6 months ago
This man speaks truth eloquently.
suitzoot 7 months ago
Passion - leaving the comfort zone - big bet - story telling - counterintuitive >> #innovation #Semperoper #singularityu
RalfLippold 7 months ago
This guy is a good public speaker, but I think he knows nothing of innovation. Innovation doesn't come out of a "culture of innovation". It comes from individuals, usually who work alone or in a very small group, and have no respect for anyone's "culture" or "environment". You can't peer-pressure people into being innovative. It's something that originates in the soul of an individual.
jonathanaconway 7 months ago
@jonathanaconway Hmm after listening to the speech, I guess he has some good points, and would probably somewhat agree with some of what I said above.
jonathanaconway 7 months ago
That rebuilding part was interesting. I will be sure to implement a similar strategy sometime.
BrokenBjartur 7 months ago
CHAOS IS OUR MASTER!!!!
DraskyVanderhoff 7 months ago
Thank you for this! I will be re-watching this several times to relearn how to accomplish the goals I have set for myself. It is so true that rebuilding creates innovation.
DreamPharaoh 7 months ago