The first indicator that this might be great advice is the near-unanimous disagreement in the replies. In hiring, you can either become among the best in the world at identifying mispriced assets - or you can pay market rates. And nearly everyone thinks they’re a great picker.https://twitter.com/awilkinson/status/1170012873512239104 …
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Generally agree with the original advice. Generally agree with your point re: overconfidence in assessment. Another variable, though — knowing whether you have an advantage in either systems or in developing people for people to levelup/perform more rapidly than baseline.
Agreed. Good point. Another frame for this might be: are you going to be the best in the world at developing talent, or the best in the world at leveraging talent?
