Charles Koch, Chairman and CEO of Koch Industries, shares his top reading recommendations on economics and scientific philosophy during a conversation with Marc Andreessen.
“Well, let me give you some essays. I would read Michael Polanyi's essay, Republic of Science. I would read Karl Popper's essay, Science is Falsification. I would read a couple of high act that competition as a discovery procedure and the use of knowledge in society. I would read a chapter in Matt Ridley's book, the evolution of everything called the evolution of technology. I would read Deidre McCloskey's op-ed in May, ah, 2016 Wall Street Journal called How the West and the Rest Got Rich. And then I would read Charles Murray's book In Pursuit of Happiness and Good Government.”
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Insight
Charles Koch: Smart workers with bad values inflict maximum damage
“If you're going to hire somebody with bad values, don't be hiring somebody smart. Hire them stupid and slow, because they will do less damage.”
Charles KochJan 2, 2019▶ 14:24a16z Podcast | The Business of Continual Change
AssertionNot checkable as stated
Koch: Employees can earn more than managers with no pay cap
“That has nothing to do with how much your manager, although he gets some of the credit for you performing well, but there's no max. We want everybody to make all they can. Based on the value they're creating.”
Charles KochJan 2, 2019▶ 17:10a16z Podcast | The Business of Continual Change
AssertionNot checkable as stated
Koch Industries nets financial losses from dumb failures against employee value created
“Whereas if you had a dumb failure, and you lose ten million, you made twenty million, or you made twenty-five million over here, you get credit for 15. So we net it up.”
Charles KochJan 2, 2019▶ 20:42a16z Podcast | The Business of Continual Change
Insight
Charles Koch Advocates Permissionless Innovation Over Government Prior Approval
“We need to get rid of this protectionism And have what we call permissionless innovation, and that is have the burden of proof on the government that what you're doing is really unsafe so they can get a court order and shut you down rather than have to go moth…”
Charles KochJan 2, 2019▶ 25:04a16z Podcast | The Business of Continual Change
AssertionNot checkable as stated
Charles Koch confirms Koch Industries reinvests 90% of earnings annually
“90%.”
Charles KochJan 2, 2019▶ 22:02a16z Podcast | The Business of Continual Change
Insight
Charles Koch: Political Problems Cannot Be Solved with More Politics
“That's the only way you're going to change society, electing a better politician or something. We're not going to solve the political problem with more politics. We got to solve it at the grassroots level with individuals and helping them see opportunities.”
Charles KochJan 2, 2019▶ 23:30a16z Podcast | The Business of Continual Change
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