Ep. 762: A Wild Takeoff and Bezos the Trend Trader Revisited with Michael Covel on Trend Following Radio
Michael Covel's Trend Following
00:00
The Importance of Sunk Cost and Opportunity Cost
Lee Zhang, an angel investor VC and high growth startups, read every Amazon shareholders letter all the way back to 1997. Jeff draws the distinction between type one versus type two decisions within companies. Type one decisions are not reversible. Type two decisions are easily reversible. Too many companies treat every decision as a type one decision rather than treating most decisions as a type two decision. The takeaway is improve the quality of your team and your decision making process even in the face of scaling.
Play episode from 14:40
Transcript
