Failing to Plan

I’ve been reading through Nick Sleep’s (from Nomad Investment Partners) letters and they are incredible. In one letter, from 2008, he quoted Nassim Taleb: “‘Capitalism does not teach slack, it teaches optimization.’” Sleep goes on: “That is capitalism teaches that assets must be worked hard, outputs maximised, returns as high as can be.” (Sleep was…

Pareto in Product

I first learned about Pareto’s Principle in my Industrial Engineering class — not sure which one. I’ve since seen it used in many different contexts and analogies as a basis for this and that. To be honest, I cannot remember one where it’s been used accurately or at a depth where I thought it really…