Wednesday, July 6, 2016

Everybody is Right

By Rick Nason, PhD, CFA
Partner, RSD Solutions Inc.
In his bestselling book "Zero to One:  Notes On Startups Or How To Build the Future", Paypal co-founder and tech entrepreneur Peter Thiel says he likes to ask the interview question “What important truth do very few people agree with you on?”  It is an interesting question and one that I have had an opportunity to use in several different types of interviews. 
I recently asked it at a risk management workshop that I was conducting.  I asked it in the context of what are some of the accepted “truths” in risk management that everyone believes but in fact may be wrong.  The response was silence. 
There are several possible explanations for the silent response.  A very real one may be that no one dared to risk their professional status to speak up and admit that they had a deviation from the accepted wisdom of the crowd.  (A worthy thought for a future post.)  Another reason however may be that we are too lazy to think about alternatives to current practice.  (Again, a potential future post.) 
However perhaps the reason was even simpler and more basic – no one had ever thought to ask the question “what is it that everyone believes that might be wrong?”!

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