What’s Luck Got to Do With It?
A very good read
in the NYT on the role of luck (written by Jim Collins, the well known writer
of From Good To Great, and Morten Hanson). They studied so-called 10Xers, entrepreneurs
whose companies outperformed their competition by a factor of 10, and conclude that
luck doesn’t cause 10X success since 10Xers and non-10Xers have roughly the
same incidence of “luck events.” Rather the key metric is ROL or the Return on Luck – the ability to recognize luck, seize it, and to sustain a fanatically high
level of effort over time.
