On Incentives

A collection of thoughts about incentives: Parkinson’s Law: Work expands to fill the time available. What gets measured gets managed. Goodhart’s Law: When a measure becomes a target, it ceases to be a good measure. Society is good at training talent but terrible at cultivating genius. Talent is predictable, genius is unpredictable. People tend toContinue reading “On Incentives”

On The Market

Demand Curves Slope Down: The harder something is to do, the fewer people will do it. People’s behavior totally changes once an action costs money. If sending an email cost you $0.001, there’d be way less spam. The Invisible Hand: Rising prices signal falling supply or increased demand, which incentivizes an increase in production. TheContinue reading “On The Market”