Posted by kiyanwang 4/11/2025
- like in the example, fast people have trouble going slow.
- people who are exceptional at details might be poor at big-picture.
- super passionate people can take criticism of their ideas personally
- people who are slow might be steady
David Wallace: Okay. And your strengths?
Michael Scott: Well, my weaknesses are actually strengths.
David Wallace: Oh. Yes. Very good.
Imagine reporting to the real life Wallace as a fan of the show.
I look at our leaders today - our CEOS, elected officials, presidents and their lieutenants like Elon Musk - and I see a narrow sampling of humanity chosen for high executive function but little else. Who consider humanity's greatest virtues like empathy to be liabilities. Where is the self-awareness, the doubt, even the shame that brings wisdom?
I worry that this tireless race towards maximization of efficiency and reduction of cost above all else is driving the whole world towards ensh@ttification. When we could so easily take a step back, breathe, and find outside-the-box solutions beyond the zero-sum game of the status quo. If only they would let us..
There is a book Investing Between the Lines by Rittenhouse that argues that candor is a high predictor for company outperformance. Buffett for example has written on multiple occasions things like “this was fully my mistake” or “it turned out I was wrong”. With the book in the back of my mind, I set out to find annual reports were the letters showed candor instead of the typical “Among a greatly turbulent economy, we have maintained good revenue numbers and customer satisfaction” rhetoric.
I have read about 100 reports and found one or two satisfying this criterium. From the top of my head, only Berskhire, Amazon in the 2000s, and Ryanair conduct candor communication.
So yes I fully agree with your point on candor and self-awareness.
Last summer we sold the corporate jet that we purchased for $850,000 three years ago and bought another used jet for $6.7 million. Those of you who recall the mathematics of the multiplying bacteria on page 5 will understandably panic: If our net worth continues to increase at current rates, and the cost of replacing planes also continues to rise at the now-established rate of 100% compounded annually, it will not be long before Berkshire's entire net worth is consumed by its jet.
Charlie doesn't like it when I equate the jet with bacteria; he feels it's degrading to the bacteria. His idea of traveling in style is an air-conditioned bus, a luxury he steps up to only when bargain fares are in effect. My own attitude toward the jet can be summarized by the prayer attributed, apocryphally I'm sure, to St. Augustine as he contemplated leaving a life of secular pleasures to become a priest. Battling the conflict between intellect and glands, he pled: "Help me, Oh Lord, to become chaste - but not yet."
Naming the plane has not been easy. I initially suggested "The Charles T. Munger." Charlie countered with "The Aberration." We finally settled on "The Indefensible."
Outsized success a curse.