Archive | October, 2020

Beware of the Leopard Lessons

In the book Hitchhiker’s Guide to the Galaxy, there’s a vignette called ‘Beware of the Leopard’ which explains why it’s critical to provide convenient access to important information. The vignette is a useful way to explain information asymmetry, in which one person has relevant information not known by or available to the other person. Here’s…

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Prepare Three Envelopes Is Bad Advice

There’s a classic story called ‘prepare three envelopes’ which provides advice on leadership transitions. There are versions which apply to business, government, and sports teams but they essentially all have the same advice. Here’s a version: A new executive is hired to take over a struggling business unit. During the handover meeting, the previous executive…

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