Robert Shaw

Reed Hastings, was dismayed after conducting new-hire orientation sessions where up to one out of three new people were shocked by what he told them about the firm’s high-performance culture

bait and switch.

we realized now there was no more dummy proofing necessary

This occurs because mediocre talent can be tolerated when a firm is successful and has the financial buffer to carry those who are underperforming

Most large firms, for instance, require annual operating plans and conduct regular operating reviews to ensure that their various groups are focused on the right priorities (versus trusting them to do so more spontaneously)

processes are no substitute for talent.