I’m realizing that big organizations just don’t have the proper channels for communication, especially with every boss working remotely.

One of my former bosses, an exec at a tech company, said that “the ElevenLabs chatbot sounded so realistic, and has such low latency.” in the startup we were working on.

As anyone who has spent time on the internet knows, that voice sounds like trash. People at the top of the organization cannot hear the same “noise” as people lower down the organization. Where everything sounds the same.

In 2005, “Has Financial Development Made the World Riskier?” was presented by Raghuram Rajan at Jackson Hole. Rajan posited that while financial innovation (like securitization) had diversified individual risks, it encouraged “herding” behavior. Managers were incentivized to take on “tail risks”—bets that provide steady small returns but result in massive losses during a rare, catastrophic event.

Wonder if history rhymes.