The desire for reinvention seems to arise most often when companies hear the siren call of synergy and start to expand beyond their core businesses.
James SurowieckiLack of confidence, sometimes alternating with unrealistic dreams of heroic success, often leads to procrastination, and many studies suggest that procrastinators are self-handicappers: rather than risk failure, they prefer to create conditions that make success impossible, a reflex that of course creates a vicious cycle.
James SurowieckiLife insurance became popular only when insurance companies stopped emphasizing it as a good investment and sold it instead as a symbolic commitment by fathers to the future well-being of their families.
James SurowieckiI think people don't understand compound interest because typically no one ever explains it to them and the level of financial literacy in the US is very low.
James SurowieckiIn confusing stock options with ownership, corporations confuse trappings with substance.
James SurowieckiThe fact that cognitive diversity matters does not mean that if you assemble a group of diverse but thoroughly uninformed people, their collective wisdom will be smarter than an expert's. But if you can assemble a diverse group of people who possess varying degrees of knowledge and insight, you're better off entrusting it with major decisions rather than leaving them in the hands of one or two people, no matter how smart those people are.
James Surowiecki