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Impatient with inputs, patient with outcomes
Impatient with inputs
You show up, move at high velocity, and do the work and lots of it. You don't know whether it will hit.
The capital markets rush
Much of the current startup climate is an instant feedback loop in the capital markets: rounds upon rounds, with valuation jumps week over week. In a world that feels like musical chairs, where you might be the one without a seat, it is hard not to be in a rush.
An intern named Seb asked a similar question about how a young, ambitious person should approach all this, and the advice he got was not to be in such a rush.
Why does a hot market feel like musical chairs?
In July 2007, Citigroup chief executive Chuck Prince told the Financial Times that as long as the music was playing, a firm had to get up and dance. He was explaining why the bank kept lending into a booming market. The remark became shorthand for the pressure to keep pace with rivals during booms. Prince resigned in November 2007.
Why measure effort instead of results?
The Stoic philosopher Epictetus opened his Enchiridion, a handbook recorded by his student Arrian in the early second century, by separating what is up to us from what is not. He placed our own judgments and actions in the first group and reputation and outcomes in the second. The idea is often called the dichotomy of control.
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