profits interests

To strive, to seek, to find, and not to yield.

[Jeremy Wayne Tate @JeremyTate41]

One paragraph from C. S. Lewis can change your life

[profits interests @AdjEbitdan]

@darrenrovell @SamEifling Well written

[profits interests @AdjEbitdan]

@PHLEaglesNation Hurts was fantastic. Idk about the O-line.

[profits interests @AdjEbitdan]

@JesseDraper What brand of choco ice cream?

[Josh Chambers @JoshChambers]

Steve Kerr says Roger Federer taught his Warriors team the secret to sustained success wasn’t outworking everyone, it was building a life around your craft you never want to escape from

“I’ll tell you a great story about Roger Federer. We were playing in China with the Warriors in 2017. Roger was in Shanghai for the Masters tournament, so we invited him to come speak to the team.”

“Draymond Green asked him, ‘How do you sustain success? How have you managed to win majors 20 years after you first won one?’ Everyone was expecting him to say, ‘I work harder than everybody,’ the will, all the clichés.”

“Roger Federer says, ‘I get up every morning and I make breakfast for my kids. Then I take them to school and drop them off. Then I go practice tennis for about two hours, and I’ve figured out a really good routine where I don’t destroy my body, but I can get all the work in I need.”

“‘Then I go have lunch with my wife. In the evening, we cook dinner together. The kids are all home from school. We ask them about school. There’s so much joy in the house. We put them to bed, and then I put my head on the pillow and go, “Man, that was just a great day.” And I’ve been doing that for 20 years.’”

“And it was like, yes. That’s it. That’s the formula. That’s what leads to sustained success. He loves tennis. He loves his family. He loves life. It’s not outworking everybody and banging your head against the wall, ‘I’m going to be better than everybody.’ It’s allowing your natural talent to shine through with a work ethic, with a great family life, with perspective, with peace, with mindfulness.”

“It’s perspective. It’s joy. It’s passion. It’s mindfulness. It’s an awareness that we are truly lucky. To get the most out of ourselves, it’s our daily rituals and experiences and love and joy.”

[profits interests @AdjEbitdan]

@SenSanders Literally a character from an Ayn Rand novel.

[profits interests @AdjEbitdan]

@nettermike The pies are only $16 each there?

[profits interests @AdjEbitdan]

@tomeghale @BillAckman @WHOOP should do the same! If it’s possible for both wearable companies to provide alerts during these kind of moments…it would be incredible.

[profits interests @AdjEbitdan]

@scasfar @taobanker I don’t think anyone would be withdrawing the entirety of their market fund in one year, so not sure what you mean

The alternative is put the dollars into a non-market fund, but that probably does worse over time. Either way though, it’s a personal account v current situation

[Dev Ittycheria @dittycheria]

Yesterday, the founder of a well-known, successful company called me to reference check two people he was considering for a senior role. He wasn’t looking for reassurance. He was genuinely trying to understand them, including anything that might cause him to reconsider either hire. He’s called me before about other hires, including people who wouldn’t even report directly to him. He doesn’t delegate this to others. He calls himself. I'm sure that kind of rigor is part of why his company has been so successful.

The call stuck with me because it happens so rarely. Many people I’ve worked closely with have gone on to senior roles, including C-level positions, at other companies. It’s shocking how infrequently I get called. These are among the most consequential decisions a founder makes, yet companies routinely make them without talking to people who actually worked closely with the candidate.

Part of the problem is timing. Most reference checks happen after the hiring manager has effectively decided to make the hire. You like the candidate, you’ve invested weeks in the process, and you’re under pressure to fill the role. You want the process to be over, so you’re looking for validation rather than truth. That defeats the purpose of doing reference checks.

A real reference check should attempt to disconfirm what you already believe. What am I missing? Where is this person weaker than they appear? What will I wish I had known six months after they start? You aren’t trying to build the case for the hire. You’re trying to find the flaw in the case while you can still do something about it.

I’ve learned a few rules. Start by putting limited weight on the references the candidate gives you. Nobody hands you the name of the boss or colleague who thought they were a disaster. The references that matter most are blind references, so find former bosses, peers, direct reports, and customers who aren’t on the candidate’s list. Each has seen the person from a different angle.

You also have to adjust for human nature. Most people don’t like being brutally honest when they know their words could affect someone’s career. They inflate praise and soften criticism, so my rule of thumb is to discount the positive by 3x and amplify the negative by 3x. That gets you closer to a balanced view.

When someone says, "He's a great leader, although some very good people struggled working for him," the second half of that sentence matters far more than the first. Who struggled, why, and where are those people now? When someone says, "She surrounds herself with people she trusts," ask whether those are the best people for the job or simply people who always agree with her. Hesitations, qualifications, and carefully chosen words often tell you more than the compliments.

Ask questions that make vague answers difficult. What would their direct reports say is the hardest part of working for them? What feedback did you give them repeatedly? What was their biggest blind spot? How do they behave when things are going badly? Tell me about a serious conflict they had and how they handled it. If this hire fails, what is the most likely reason? Would you hire them again?

My favorite is a forced ranking. Of everyone you’ve worked with in a similar role, where does this person rank? Top 1%? Top 10%? Top 25%? Then ask why. Adjectives can be misleading. Rankings force people to make an actual judgment and explain it.

I’ve hired many exceptional people and made some bad hires. The most important lesson I’ve learned is that the goal of a reference check isn’t to prove you made the right decision. It’s to discover why you might be making the wrong one while you can still change it.

[profits interests @AdjEbitdan]

@taobanker She is actually completely reasonable… knows the number for the life she expects/wants…

[profits interests @AdjEbitdan]

@NYCMayor Straight out of Atlas Shrugged.

[profits interests @AdjEbitdan]

@marccloutier007 @scott_seiver Yes but As and Ks accounted for already. Still have a lot of Qx hands though.

[profits interests @AdjEbitdan]

@BigJohn043 Can’t factoring cost be added back assuming AR won’t be factored post close? Just need to get the right peg to avoid a double dip…(and should get paid on accelerated AR collected pre close).

[profits interests @AdjEbitdan]

@Breaking911 Doesn’t seem like much running

[profits interests @AdjEbitdan]

absolutely wild

https://t.co/fDrYKApn8e

[profits interests @AdjEbitdan]

@mbradycf 2pairs and trips probably have raised by now. Target QX… would bet half pot.

[nxthompson @nxthompson]

This is an amazing quote from Lindsey Graham about when he realized how politics works. https://t.co/sh04ahQOFq