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The dog in the night time: Difference between revisions
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==Oh come on, Ref== | ==Oh come on, Ref== | ||
*'''Over-reliance on “other adults”''': We imagine regulators/rating agencies are better resourced, more watchful, more powerful, more talented and less human than they are. Examples: | *'''Over-reliance on “other adults”''': We imagine regulators/rating agencies are better resourced, more watchful, more powerful, more talented and less human than they are. Examples: | ||
**SEC on Madoff. | **SEC on Madoff. | ||
**FDA on Theranos. | **FDA on Theranos. | ||
**Moody’s on the GFC | **Moody’s on the GFC | ||
**[[Auditor]]s for [[Enron]] - see also the agency problem. | **[[Auditor]]s for [[Enron]] - see also the agency problem. | ||
**[[BaFin]] on [[WireCard]] | **[[BaFin]] on [[WireCard]] | ||
*'''oversized management committee''': a top heavy management structure with multiple board members whose function is effectively to to diffuse away responsibility rather than accept it, thereby giving cover 2 to micro dictator behaviour. See: {{author|Peter Thiel}} — {{br|Zero to One}} | *'''oversized management committee''': a top heavy management structure with multiple board members whose function is effectively to to diffuse away responsibility rather than accept it, thereby giving cover 2 to micro dictator behaviour. See: {{author|Peter Thiel}} — {{br|Zero to One}} | ||
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*'''Reality distortion field''': Charismatic leader can do no wrong, unusually able to divert attention from potential issues | *'''Reality distortion field''': Charismatic leader can do no wrong, unusually able to divert attention from potential issues | ||
*'''Secrecy''': Insistence on confidentiality not just of unannounced plans but of entire operation. Black box operations. Masking the size of the operation (Madoff) or suggesting it is so secretive that you cannot know it (Theranos) | *'''Secrecy''': Insistence on confidentiality not just of unannounced plans but of entire operation. Black box operations. Masking the size of the operation (Madoff) or suggesting it is so secretive that you cannot know it (Theranos) | ||
*'''It’s the law''': I can’t possibly tell you because of [[General Data Protection Regulation|GPDR]], Health & Safety, potential [[Unpublished price-sensitive information|market abuse]], [[Antitrust|anti-trust]] and so on. | |||
*'''Hostility''': combative/aggressive demeanour to criticism | *'''Hostility''': combative/aggressive demeanour to criticism | ||
*'''This is different how?''': To what extent is “fake it till you make it” bravura, and how much is it confidence in your ability to sort it out later, or big opportunities. Is there a difference? | *'''This is different how?''': To what extent is “fake it till you make it” bravura, and how much is it confidence in your ability to sort it out later, or big opportunities. Is there a difference? | ||