Adam Robinson: Right. It’s so funny you should ask that, because people think stupidity is the opposite of intelligence. In fact, stupidity is the cost of intelligence operating in a complex environment. It’s almost inevitable. And so I was asked by an organizer of an investment conference in the Bahamas of some elite global investors to do a talk on anything I wanted to do, except not about investing. It’s just, pick an interesting topic. So I thought for a second and I blurt out, “Okay. How about how not to be stupid?” He laughed and he said, “Okay. Great.” It took me a month of hard thinking, mind you, just to define stupidity. By the way, if you’re in any field and you want to find ways to innovate, focus on words that are commonly used and try to define them simply.
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