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Tuesday, 24 April 2012

"Compounding returns of intelligence"

Posted on 16:05 by Unknown

This is from Stanford's CS183 course on startups. The lecturers include Peter Thiel, Max Levchin and Stephen Cohen of Palantir.

Stephen Cohen: We tend to massively underestimate the compounding returns of intelligence. As humans, we need to solve big problems. If you graduate Stanford at 22 and Google recruits you, you’ll work a 9-to-5. It’s probably more like an 11-to-3 in terms of hard work. They’ll pay well. It’s relaxing. But what they are actually doing is paying you to accept a much lower intellectual growth rate. When you recognize that intelligence is compounding, the cost of that missing long-term compounding is enormous. They’re not giving you the best opportunity of your life. Then a scary thing can happen: You might realize one day that you’ve lost your competitive edge. You won’t be the best anymore. You won’t be able to fall in love with new stuff. Things are cushy where you are. You get complacent and stall. So, run your prospective engineering hires through that narrative. Then show them the alternative: working at your startup.
This is a good argument, although for some personality types the security and comfort level at Google might lead to more learning than at a stressful startup. Maximizing intellectual growth is one of the main reasons I chose theoretical physics over finance or (exclusively working on) startups.
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