With a hat tip to Robin Rubin’s commencement speeches at NYU (1999) and Harvard (2000), Venture Hacks implores us to evaluate decisions by the decision-making process itself, rather than the results produced.
Decisions tend to be judged solely on the results they produce. But I believe the right test should focus heavily on the quality of the decision-making itself.
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It’s not that results don’t matter. They do. But judging solely on results is a serious deterrent to taking the risks that may be necessary to making the right decision. Simply put, the way decisions are evaluated affects the way decisions are made.