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Incentives drive all human behaviour, which makes a management team's incentives central to valuing a company.

Drawn from what Bill Ackman said

Subjectsvalue investingmanagement
What this subject means

management Running the place: an executive's calendar, dissent, severance, and what a manager is actually for.

Mental modelIncentives

On the topicWhich mental models help you think better?under our view: Incentives are stronger than anyone admits, including about yourself

What Bill Ackman actually said

  1. Bill Ackman Founder and chief executive of Pershing Square Capital Management
    So as I like to say, incentives drive all human behavior and that certainly applies in the business world. So understanding the people and what drives them, and what the actual financial and other incentives of a business, are very important part of the analysis for investing in a company.

    Where this was said

    Watch from 0:32:42 plays here

    ↗Bill Ackman: Investing, Financial Battles, Harvard, DEI, X & Free Speech | Lex Fridman Podcast #413youtube.com

    20 Feb 2024 · video · 3h 32m · spoken · official transcript

    All 22 korrents from this recordingthis one is 7th

Added to korrents 7 Sept 2026 · How quotes work · Something wrong? Tell us

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