I think I’ve been in the top 5% of my age cohort all my life in understanding the power of incentives, and all my life I’ve underestimated it. And never a year passes but I get some surprise that pushes my limit a little farther.
Charlie Munger
His favorite example is Federal Express. Of course in a business like Federal Express self-interest incentives are the biggest driver of performance.
That doesn’t mean that they are the biggest driver in a project like Wikipedia.
Charlie Munger
His favorite example is Federal Express. Of course in a business like Federal Express self-interest incentives are the biggest driver of performance.
That doesn’t mean that they are the biggest driver in a project like Wikipedia.