Monthly Archives: September 2013

Twenty (Important) Concepts I Wasn’t Taught in Business School – Part I

Twenty-one years ago I received an MBA with Honors from the University of Chicago. The world became my oyster. Or so it seemed. For many years I achieved status in the metrics popular in our day ~ large paychecks, nice cars, travel to exotic places, girlfriend(s), novelty, and perhaps most importantly, respect for being a ‘successful’ member of society. But it turns out my financial career, shortlived as it was, occurred at the tail end of an era ~ where financial markers would increasingly decouple from the reality they were created to represent. My skill of being able to create more digits out of some digits, (or at least being able to sell that likelihood), allowed me to succeed in a “turbo” financial system that would moonshot over the next 20 years. For a short time I was in the 1% (and still am relative to ‘all humans who have ever lived’). Being in the 1% afforded me an opportunity to dig a little deeper in what was really going on (because I quit, and had time to read and think about things for 10 years). It turns out the logic underpinning the financial system, and therefore my career, was based on some core flawed assumptions that had ‘worked’ in the short run but have since become outdated, putting societies at significant risks.

Around 30% of matriculating undergraduate college students today choose a business major, yet ‘doing business’ without knowledge of biology, ecology, and physics entirely circumvents first principles of how our world really works ~ my too long but also too short summary of the important things I wasn’t taught in business school is below.
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