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Hitting It Out Of The Park

Name: Hitting It Out Of The Park
Uploaded: 2024-11-26T15:00:48+00:00
Duration: 36 s
Channel: Shanli Liu, CPA, CTP
Description: In this monologue, the speaker draws a baseball analogy to champion bold, high‑risk entrepreneurship. He notes that while a baseball swing can at most…

26 Nov 2024 · 1 min

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In this monologue, the speaker draws a baseball analogy to champion bold, high‑risk entrepreneurship. He notes that while a baseball swing can at most score four runs, a bold business move can occasionally generate thousands of “runs” – a long‑tailed distribution of returns. He argues that such outsized successes justify a large number of experiments and failures, describing the scars and setbacks as the price paid to eventually “hit it out of the park” and achieve a scale where further swinging is unnecessary.

Chapters

We all know that if you swing for the fences, you're going to strike out a lot, but you're also going to hit some home runs. The difference between baseball and business, however, when you swing, no matter how well you connect with the ball, the most runs you can hit is 4. In business, every once in a while when you step up to the plate, you can score 1,000 runs. This long-tailed distribution of returns is why it's important to be bold. Big winners pay for so many experiments. When he says big winners pay, they pay in failures. They pay in the scars that they have to incur and endure along to hitting it out of the park and hitting it out so big that they never have to swing again.