Walt Disney gained worldwide fame with the animated film ‘Steamboat Willie,’ but Disney’s first studio went bankrupt. By the mid-1930s, he had produced over 400 animations, most of which suffered heavy losses. In 1938, Snow White and the Seven Dwarfs made $8 million in just the first half—more than ten times the earnings of other films. Meanwhile, with this animation, the company paid overdue wages to its employees and recovered the losses it had sustained. An unusual event that changes everything is called a “tail event.” 40% of publicly listed companies in the U.S. stock market lose nearly all their market capitalization 10 years after going public. Business and investing, after all, are based on probabilities. No one knows what the “tail event” will be. Therefore, to succeed, you need to try small, steady, many times with little impact, even if you fail. - Joseph’s “just my thoughts”
If a planner becomes attached to the work they plan, it is easy to lose their objectivity . To be a planner, one needs to step back and view the work from a third-person perspective without getting caught up in the planning process . The cost of a project that has lost its objectivity is severe and leads to regrets. However, it is not too late to develop attachment after evaluating the planning results. Creators must work with attachment, but planners need to remain objective to maximize their chances of success. Adhesives are only useful when sticking different materials together; in other situations, nothing is more inconvenient than glue . In planning, attachment functions similarly. - Joseph’s “just my thoughts”