Category: Learnings

Learnings

The error of failing to emulate a winning idea pervades every industry at all levels.

Chris Labs

The results can be catastrophic. Even though there’s a psychological barrier to do so, stealing ideas from competitors is necessary. e.g In the late 80s-90s, Future publishing, a competitor to Dennis Publishing in the UK, started to put a playable electronic game with each magazine. Felix Dennis had no interest in paying huge fees to Sony or Sega to include their games with Dennis’s magazine. And so the team at Dennis did the Ostrich and kept their traditional way of doing things in the video games magazines. Future publishing started to get traction and sell more than Dennis in the … Continue reading The error of failing to emulate a winning idea pervades every industry at all levels.

Learnings

A committee is a cul-de-sac in which ideas are lured and quietly strangled

Chris Labs

Of course, there is nothing wrong with robust debate, either with others or oneself. What is undesirable, however, is the pretense that any such debate can resolve the risks involved in advance. It cannot. All debate can do is clarify, support or contest the next step. The risks remain, however much talking is done. -How to get rich, p.31 Continue reading A committee is a cul-de-sac in which ideas are lured and quietly strangled

Learnings

Each deal depends on building trust with a single controlling entity.

Chris Labs

Looking back at the acquisitions of Pixar, Marvel and Lucasfilm, the personal component of each of these deals was going to make or break them, and authenticity was crucial. Steve had to believe my promise that we would respect the essence of Pixar. Ike needed to know that the Marvel team would be valued and given the chance to thrive in their new company. And George had to trust that his legacy, his “baby”, would be in good hands at Disney. The Ride of Lifetime, p.188 Continue reading Each deal depends on building trust with a single controlling entity.

Learnings

There’s no good playbook for how to fire someone, though Iger has an internal set of rules:

Chris Labs

-You have to do it in person, not over the phone and certainly not by email or text. -You have to look the person in the eye. -You can’t use anyone else as an excuse. (This is you making a decision about them – not them as a person but the way they have performed in their job – and they need and deserve to know that it’s coming from you.) -You can’t make small talk once you bring someone in for that conversation Iger says something along the lines of: “I’ve asked you to come in here for a … Continue reading There’s no good playbook for how to fire someone, though Iger has an internal set of rules: