Die deutsche Teilchenphysikerin, ehemalige CERN-Mitarbeiterin und aktive Bloggerin Sabine Hossenfelder (@skdh) veröffentlichte im Juni 2018, zunächst auf Englisch (Lost in Math, How Beauty Leads Physics Astray), ein in der Fach- und fachorientierten Publikumspresse viel beachtetes Buch: Das hässliche Universum, Warum unsere Suche nach Schönheit die Physik in die Sackgasse führt. Schönheit als heuristisches Kriterium Hossenfelders Kernthese besagt, in der Theorieentwicklung … Read More
Stairway to Corporate Heaven? On Ray Dalio’s Principles (Part II)
Last week I stated that a general master plan for individual or business success, as outlined in Ray Dalio’s #Principles, is a good thing – in principle 😉. Provided the plan makes sense, it’s good because it serves as a useful heuristic to make sure I’m on course. The disadvantage of such a general plan, of course, is that … Read More
The Pros and Cons of Generic Worldly Wisdoms: On Ray Dalio’s Principles (Part I)
Over the holidays I finally gathered the time and peace to immerse myself in the #Principles (Simon & Schuster 2017) of @RayDalio, the celebrated founder of Bridgewater, hedge fund inventor and multibillionaire. At least from what one gathers by reading his book, Dalio is a highly agreeable, modest and intellectually astute person who appears to mean and “walk” the principles … Read More
Ludwig Wittgenstein on Business Process Management
Those familiar with the Anglo-Austrian philosopher Ludwig Wittgenstein know that one usually distinguishes two Wittgensteins: The earlier one who wrote the “Tractatus Logico-Philosophicus” (1921) and the later one who is best known for his “Philosophical Investigations” (1953). Both oeuvres contradict each other. The later Wittgenstein distanced himself from the earlier one. Put in a nutshell (grossly oversimplifying and distorting … Read More
Privat vor Staat? – Die Sache mit der Milchkanne
Zum notwendigen Scheitern des Digitalpakts und zum drohenden Scheitern des Wirtschaftsstandortes Deutschland Während in dieser Woche alle Welt auf den Bundesparteitag der CDU in Hamburg blickt, auf dem heute der Nachfolger bzw. die Nachfolgerin von Bundeskanzlerin Angela Merkel als Parteivorsitzende ansteht, tritt die Nachricht vom vorläufigen Scheitern des Digitalpaktes Anfang derselben Woche vollkommen in den Hintergrund. Dabei ist dieses Scheitern, … Read More
Angel Fallacies 4: Neglect of Founders’ Personal Circumstances
The personal circumstances of employees are a minefield for employers: Whether in hiring or in staff development: On the one hand, as an employer you have to consider potential risks such as illness, financial stability, family situations, even possible pregnancies; on the other hand, in an ideal world, these issues should really remain a private matter for the respective … Read More
Angel Fallacies 3.1: Neglect of Target Market Imponderables (“Competitors”)
“So, who are your competitors?” Within the start-up ecosystem this hypertrivial question is asking for a routine answer. It is one of those questions that usually does not raise any serious worry among start-ups asking for money. But it should. Because these standard responses follow a pattern which can be easily anticipated and usually is astoundingly poor. Variant 1: … Read More
Die Illusion des Know-How
Letzte Woche habe ich mich in einem Post einigermaßen unfreundlich über ein sogenanntes Whitepaper von @RolandBerger und @sas-dach geäußert. Es trägt den stolzen Titel „Die Illusion der Kundenzentrierung, 5 unbequeme Thesen zum digitalen Marketing“. Schimpfen ist immer leicht. Daher möchte ich an dieser Stelle die Gründe für meine Kritik nachholen. Mit ihr sollte nicht gesagt sein, die deutsche Wirtschaft benötige … Read More
Confirmation Bias and Neglect of Contrarian Market Forces
Start-ups need a USP for their products and services that is not just unique but also in demand. There lies a structural tension in this: Whatever is really novel or unique cannot be in demand, because nobody as yet knows about it. So, frequently you can only guess or assume or hope that the new feature of a new product … Read More
Angel Bias and Angel Vanity
Investors and serial entrepreneurs usually entertain some good and many not so good investment memories respectively. Angel investors, who usually previously either worked as VCs or (serial) entrepreneurs therefore tend to be biased towards certain investment targets, certain technologies, certain types of business model etc. Their previous roles as investors (fund managers) or (serial) entrepreneurs make angels believe they have … Read More