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Far too many people expect profitability, for the product and the business, right out of the gate. When I was at Philips I watched most new product categories and businesses on their slate get cancelled—even for products that were almost ready to ship. Built. Tested. Done. They would die on the vine because the top brass were protecting themselves. Any execs joining the team always wanted a near guarantee that new products would make money.
This might inhibit Berkshire’s potential or it might not, but it would fend off the grisly menace of the Institutional Imperative, which he viewed as the greatest danger that Berkshire faced. Buffett wanted a degree of control from beyond the grave, and this was his first step in getting it.
The Snowball
Alice Schroeder
Disputation DUCKING our disturbing beliefs can be good first aid, but a deeper, more lasting remedy is to dispute them: Give them an argument. Go on the attack. By effectively disputing the beliefs that follow adversity, you can change your customary reaction from dejection and giving up to activity and good cheer.
Learned Optimism
Martin E.P. Seligman
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