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Why Entrepreneurship Makes No Financial Sense

In a VC finance course at Wharton, our professor said, "On a risk-adjusted basis, becoming an entrepreneur does not make financial sense -- you are much better off as an investor." Many of us revolted -- how could she say that? Aren't entrepreneurs...

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Success Doesn’t Require Perfection—Just One Strong Spike

A decade ago, I met an entrepreneur in Goa who had built a giant medical devices company (probably worth a few hundred million dollars today). So when I went to meet him, I expected to see a swanky office. But his desk was covered side-to-side with...

Managers Should Lead, Not Do Their Team’s Job

In my policing days, a fellow senior officer was very fond of daily night-patrolling and catching criminals. Sounds cool, right? In fact, the media loved and glorified it. But here is the problem -- that was not his job. His job was to guide his...

Why Even the Smartest People End Up Doing Meaningless Work

An ex-colleague of mine once worked for one of the world's best known private equity funds as an analyst after graduating from Harvard. His job was to make financial models for billion-dollar acquisitions that the fund would typically do. For one...

Real Character Reveals Itself Only in a Crisis

One of my bosses in the police service was a soft-spoken man -- more like a college professor than an intimidating, toughened-up cop. But the first time I was caught up in a violent student agitation, I suddenly noticed that he was standing behind...

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