This is a very counterintuitive way of looking at the world. Speaking generally rather than specifically: one generally wants a budget for fraud (or similar negative things) and to spend that budget prudently, not drive to zero. Socially non-desirable to say in as many words.https://twitter.com/ByrneHobart/status/1260264924967768064 …
-
Show this thread
-
“We have below the optimum amount of fraud; which margins are we underperforming at” is a very real conversation to have. Some organizations have incredible social difficulties acknowledging tradeoffs exist and find themselves in unhappy space on N dimensional graph as a result.
4 replies 6 retweets 71 likesShow this thread -
I remember a conversation with a lawyer I had when I was six and didn’t really understand for many many years later. I thought I was a smart kid because I knew his job was winning “cases”, so I asked whether he won all his cases.
1 reply 2 retweets 33 likesShow this thread -
Approximately: Ah, good question. I would be a very bad lawyer if I won all my cases. The majority of disputes are settled out of court. Resolving with a lawsuit that goes all the way to trial is an option in the toolbox for generating better outcomes for clients.
4 replies 3 retweets 56 likesShow this thread -
If I won literally every time, that would mean that I was likely being insufficient aggressive at choosing litigation over settlement on some cases which were a) winnable and b) where counterparty’s final offer was substantially worse to client than what they’d get if they won.
2 replies 3 retweets 47 likesShow this thread -
So no Patrick, I don’t win every case. I cannot say “I do not try to win every case I bring” because of professional ethics, but I can tell you that law is strategic and pursuing a strategy of always winning would be pursuing a poor strategy.
8 replies 4 retweets 71 likesShow this thread -
Replying to @patio11
Also true for bluffing in poker, if you don’t get caught sometimes, you aren’t bluffing enough!
1 reply 0 retweets 4 likes
Poker as a lens for life/business/etc and for sharpening ability to think through this sort of tradeoffs is one reason I keep paying tuition to independent consultants twice or so annually ;)
-
-
Replying to @patio11 @philipbrown
FYI you'd learn much more poker by watching e.g. jcarver than playing poker yourself. There are pros who make videos of educational commentary about how to play/analyze poker well. https://www.twitch.tv/runitup/videos https://www.youtube.com/user/JCarverPoker/videos … .
0 replies 1 retweet 2 likesThanks. Twitter will use this to make your timeline better. UndoUndo
-
Loading seems to be taking a while.
Twitter may be over capacity or experiencing a momentary hiccup. Try again or visit Twitter Status for more information.