Tag: relationships

Are you committed capital?

MIKELeave a comment

Investor John Arnold told Patrick O’Shaughnessy there were two things, early on, that helped him become one of the greatest investors.

First was, “a lot of retained earnings, and then new investors came in.” Makes sense. If you have a great idea with lots of room to grow, let it grow!

Second was committed capital, “Whenever we had a down month or a downtime period, which we had, they weren’t calling to redeem, but they would call up and say, do you need more capital?”

This is an idea we’ve seen before, notably with Buffett – but this time it hit different: is this how I act in my relationships? The answer wasn’t good.

When my daughters are being teenagers, do I lean in and offer more love? When they’re frustrated, am I a good set of ears? When there’s a down period, do I ask them if they need more?

Hearing Arnold talk about it make complete business sense. Like, heck yeah, let’s do this together. But I didn’t feel that in my relationships: too short, poor listening, too transactional.

Oof.

But now we have that question. Guidance. Are you committed capital?

Love and Trust and USA Basketball

MIKELeave a comment

One theme here is that information is not enough.

In his book, 10 to 25, about communicating with young people, David Yeager writes that the compliment sandwich doesn’t work because its supply side not demand side.

JTBD works so well because it shifts the focus from me to you, a business to the customers.

The supply side version of a compliment sandwich is what Yeager calls “wise feedback”. Before young people can hear criticism they have to feel safe. Feelings matter. Being in-the-group matters.

Shane Battier tells a story about Coach K’s early Olympic experience. Coach has just come from Duke where he sets a standard. People like us do things like this. But there was one guy on the team who was not very good in pick-and-roll defense.

So, coach lit into him. “You let him know in no uncertain terms that this is not going to fly,” said Battier. “And at that moment, like, you could see the look on this player’s face. He had never been talked to like this.”

Battier had. “I lived it, so I understood where it’s coming from. It was coming from a place of love.” This is Yeager’s wise feedback. It comes from a place of wanting the best. The listener feels safe because the listener and speaker are on the same side – they’re in the same group.

Coach K wises up right way. “It clicked and you realize, oh, this is not appropriate for him at this moment.” He didn’t have the right relationship for that kind of communication. It takes trust and love which take time and effort. We evolved as group members.

Note: Another version of this idea is here: https://moontower.substack.com/p/jokers-everywhere