Miller: Unaddressed underperformance causes star employees to leave and organizations to fail
Jacob "Jake" Miller · Ep 68: Are High Interest Rates & Inflation Here to Stay? How to Generate Alpha with Jacob Miller · Joe Lonsdale · Nov 2, 2023 · at 4:17
Jacob Miller discussing company culture and the necessity of high operating standards in top organizations.
0:00 / 0:09exact quote · 9.9s
▶ Watch the full episode on YouTube → 720p mp4 · rendered on demand · StarZero watermark
“Great people want to work with other great people, and organizations can really die when you have someone who's a star, and they see other people around them underperforming, and that not being rectified.”
quote is from the automated transcript, cleaned for reading: filler sounds and stutters are removed, nothing is rephrased. names can be misheard (the analysis reads context, assessments check outside sources). how →
More from Jacob "Jake" Miller
Miller: Rising US debt will eventually trigger money printing and inflation
“So what's gonna happen if we keep running up the debt like this? Eventually you're gonna have to print to solve that, and that will be inflationary.”
Miller: US interest rates will stay elevated for 12 to 15-plus years
“So, my guess is, and this is just a guess, and he who lives by the crystal ball will eat glass, but that it looks more like a slow bleed out than one sort of imminent moment. Of course there will be shocks, but I think what it looks like is for a protracted pe…”
Miller: Studying classics and history beats academic economics for understanding markets
“So much of academic econ right now is about solving for some global maxima using physics equations that really don't belong in our economy. Whereas studying classics in history, just seeing how civilizations grow, thrive, and ultimately fall, has a lot more be…”
Miller: Bridgewater spent too much time discussing how to talk about problems
“There were a lot of tools and structures and red tape put in place, which, you know, maybe at the company that size, it's unavoidable, but it felt like too much of our time was spent on Talking about how to talk about problems than the problems themselves.”
Miller: Outperformance requires unique info, unique access, insight, or luck
“I think there's really only four ways to outperform. You need to have a unique, unique information, unique access, unique insight, or have luck.”
Miller: Registered liquid private credit products carry underestimated risks
“Now, there's a little bit too much hype in this space right now at an aggregate level, and a lot of these registered liquid products are being marketed to RAs and their clients, and we think there's more risk in those than people assume, because you, once you'…”