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...They figure if they just live up to those attributes then they'll succeed. Well, no. It's not the attributes that matter, it's the circumstances - what's going on around them. Almost all successful strategies are circumstance-based, not attribute-based. Boeing, for instance, a very smart company, had outsourced a lot of their products, but then they outsourced the design of the 787 and it was a complete disaster. The attribute was "outsourcing is good," but in this case, the circumstances didn't serve it well. The key was that you should only outsource when your product...

Author: /time Magazine | Title: Common Mistakes Even Smart Investors Make | 9/29/2009 | See Source »

...just wrote an entire book about how smart people make bad decisions. Maybe you could shed some light on the financial meltdown. Increasingly, we as human beings create systems that are more complex than we can comprehend. If you're designing an airplane you create redundancies to try to mitigate bad outcomes, but as we saw earlier this year with Air France 447, when certain cascading events line up, they can lead to a disaster that you just can't anticipate. In the realm of the social, we create institutions like global, interconnected markets. By and large when investors...

Author: /time Magazine | Title: Common Mistakes Even Smart Investors Make | 9/29/2009 | See Source »

...site's antiquated, often incomprehensible editing interface. But as for the larger issue of trying to attract a more diverse constituency, it has no specific plan - only a goal. "The average Wikipedian is a young man in a wealthy country who's probably a grad student - somebody who's smart, literate, engaged in the world of ideas, thinking, learning, writing all the time," Gardner says. Those people are invaluable, she notes, but the encyclopedia is missing the voices of people in developing countries, women and experts in various specialties that have traditionally been divorced from tech. "We're just starting...

Author: /time Magazine | Title: Is Wikipedia a Victim of Its Own Success? | 9/28/2009 | See Source »

Paying your dues pays off. The Obama administration apparently realizes the wisdom of this logic and appreciates smart foreign policy, as evidenced by their recent choice to reengage with the U.N. by paying U.N. member dues, unlike the previous administration, which neglected its fiduciary responsibilities to the body. This reconciliatory approach, coupled with the removal of aggressively situated missile defense shields in Eastern Europe, has paid out enormous political dividends in the form of cooperation from other nations on the problem of nuclear weapons in Iran. Specifically, Russian President Dmitri A. Medvedev has expressed a new level of receptiveness...

Author: By The Crimson Staff | Title: Taming Tehran | 9/28/2009 | See Source »

...youthful fame actually looks like in 2009, i.e., aspiring to be the next Miley Cyrus, or playing the kind of miniature version of despicable grown-ups you see on Gossip Girl or, worst of all, starring in a reality show. The kids in this Fame are sexy, cool, smart and wholesome; they may mislead their parents into thinking they are dutifully honing their classical music skills rather than singing hip hop, but they're good kids...

Author: /time Magazine | Title: Fame: More Kids Who Want to Live Forever | 9/25/2009 | See Source »

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