I was in New York all last week and met some interesting people. Here’s one of the best nuggets I heard from a hedge fund portfolio manager:
I think, in the end, you gotta specialize in something. You need to know an industry and know everyone else in the industry, and how you’re different and better than the other guys. If you’re looking around the table and you don’t know who the sucker is — who’s off-base in their thinking — then it means you’re the sucker.
The general idea of knowing how you stack up against your competition — whether on a personal/career level or as a start-up — is very important.
Ben, I’m not sure if you have already or not, but you need to watch Rounders. It’s the “Searching for Bobby Fischer” of poker.
Great post Ben. I’m currently sitting in a cafe having some
“zen” time and this has given me something important and interesting to think about.