The Jolly Contrarian’s Glossary
The snippy guide to financial services lingo.™
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Major innovation comes, most of all, from the unexplored no-man’s land between the disciplines.” — Norbert Wiener, quoted by James Burke

The flip side to the perils of complexity and normal accident theory, is convexity of benefit. Innovation, benefit, boon, fiesta is just as hard to predict as catastrophe. But just as likely, if the people you have spotting weights in the gymnasium of disaster are experienced, clever, imaginative, problem solving people.

If you are want to wreak innovation at your shop, consider yourself Clarice. Face up to your Lecter.

Lecter: First principles, Clarice. Simplicity. Read Marcus Aurelius. “Of each particular thing ask: what is it in itself? What is its nature?” What does she need, this legal eagle you talk about?
Clarice: To innovate!
Lecter: No! That is incidental. What is the first and principal thing a lawyer does? What needs does she serve by “innovating”?
Clarice: Er ... chatbots? ... document assembly? ... legal reference data? ... MIS... Sir —
Lecter: NO! She covers! That is her nature.
Clarice: Covers? Covers what?
Lecter: ARSE Clarice, ARSE! And how do we cover arse, Clarice? Do we seek out arse to cover? Make an effort to answer now.
Clarice: No. We just...
Lecter: No. We begin by covering the arse we see every day. OUR OWN ARSE, Clarice. Don’t you see moving over your body? And don’t your eyes seek out the things you want?


See also