Don't Make This Billion Dollar Mistake

Samuel Andrews' ego cost him one billion dollars.

He had risen from the bottom of the oil food chain to the top of one of the most successful oil businesses in the world lead by John D. Rockefeller. But one irrational decision cost him a billion dollars. He could've been the worlds richest man.

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Farnam Street's goal is to help you master the best of what other people have already figured out.

[hakimdiwan]

This is something I had lot of issues with in past. I used to get frustrated, stressed and lose my cool quickly when things go out of plan, since then I had improved a lot.

[maks_st]

Shouldn't the lines in the last diagram be the other way around? Blue for Rockefeller (high stakes, low temperament), red for Andrews (high stakes, high temperament)?

[SamTuke]

Brilliant! One takeaway: the bigger the threat a partner makes, the bigger the opportunity - if you can consider it calmly (and avoid getting defensive).
Rockerfellers seizing the opportunity by obtaining a 24hr option from Andrews was genius. Was that written into a spontaneous contract?

[HomeRepairTutor]

Excellent video and lesson, thank you