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Groups Never Admit Failure
Groups Never Admit Failure

Groups Never Admit Failure

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Naval Ravikant
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2 Clips
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Dec 8, 2021
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0:00
Groups. Never admit failure. A group would rather keep living in a mythology of we were oppressed and ever admit failure. Individuals are the only ones admit failure, even individuals don't like to admit failure, but eventually they can be forced to a group will never admit. They were wrong a group will never admit we made a mistake because a group that tries to change its mind falls apart. So I am hard pressed in history to find examples of large groups where they've said we thought a but the answer is actually be usually what happens in that case the Schism where you go from Catholic Church apart.
0:30
Distant and so on, there's a Divergence and usually, a lot of infighting this happens in crypto land to where the coins Fork Bitcoin, doesn't suddenly say we should have had smart contracts or Neath, doesn't suddenly say we should have been immutable. I was a board of a foundation that was charged with giving out money for a cause and I found it very disillusioned him, because what I learned was that, no matter what the foundation did, they would declare Victory. They would give money for a certain thing. They would support a certain project and every project was Victorious, every project.
1:00
It was a success.
1:01
There was a lot of back slapping. There was a lot of high sounding mission statements and vision statements. A lot of congratulations, lot of nice dinners, but nothing ever got done. And what I realized was because there is no objective feedback because there is no loss. It's all social profit. They couldn't fail and because they couldn't fail, they misdirected resources all day long. And eventually, of course, such groups on the money. If you want to change the world to a better place, the best way to do it as a for-profit because for profits have to take feedback from
1:29
Reality, ironically for-profit entities are more sustainable than nonprofit entities there self-sustainable. You're not out there with a begging Bowl all the time. And of course you lose the beautiful nonprofit status. You have to pay your taxes and also you can get corrupted by being purely for profit. But I would argue that the best businesses are the ones that long-term are both for-profit, sustainable, and ethical so you can attract the best people. You can sustain it because it's a mission. It's not just about the money because it's diminishing returns to making money there.
2:00
Mission marginal utility to money in your life. So I learned that if you want to change the world, you're probably better off trying to do it with the for profit.
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