"Venture capitalists do it with a vengeance, reckoning that they need but one investment out of twenty to pay off, since that payoff will be very large." I can relate to that. I buy a few lottery tickets now and then, even though I know I'm throwing my money away. However, I can afford to throw away five or ten dollars now and then. But it just takes one lucky draw and bingo!
"Dwight Eisenhower, who spent a long time planning for D-Day, offered various reflections on the value of plans. The most succinct was, 'Plans are useless, but planning is essential'." I'm afraid I don't get this one. What in heck did Ike mean?
General Eisenhower was more articulate, but I am reminded of that great sports philosopher, heavyweight champion Mike Tyson, who said in response to a reporter asking whether he was worried about an opponent’s strategy: “Everybody has a plan until they get hit” in the mouth. But, a more revealing interview might have included a follow-up question to the champ: “Well, do you have a plan?” To which an honest answer would have been: “Yes, and I have trained based on it, so that when I get hit I the mouth, which I will, I can react, adjust, and act and not be stunned, paralyzed, and give up.” But that is more words than the champ probably ever spoke at one time. I don’t want to put words in his mouth.
great piece as always professor
"Venture capitalists do it with a vengeance, reckoning that they need but one investment out of twenty to pay off, since that payoff will be very large." I can relate to that. I buy a few lottery tickets now and then, even though I know I'm throwing my money away. However, I can afford to throw away five or ten dollars now and then. But it just takes one lucky draw and bingo!
"Dwight Eisenhower, who spent a long time planning for D-Day, offered various reflections on the value of plans. The most succinct was, 'Plans are useless, but planning is essential'." I'm afraid I don't get this one. What in heck did Ike mean?
The exercise of planning sharpened the mind and attention to scenarios that might arise.
General Eisenhower was more articulate, but I am reminded of that great sports philosopher, heavyweight champion Mike Tyson, who said in response to a reporter asking whether he was worried about an opponent’s strategy: “Everybody has a plan until they get hit” in the mouth. But, a more revealing interview might have included a follow-up question to the champ: “Well, do you have a plan?” To which an honest answer would have been: “Yes, and I have trained based on it, so that when I get hit I the mouth, which I will, I can react, adjust, and act and not be stunned, paralyzed, and give up.” But that is more words than the champ probably ever spoke at one time. I don’t want to put words in his mouth.