Well said!
One of the things I’ve come to believe in the years since I wrote this piece is that ‘action generates information’ is what explains many of the differences between business operators and investors.
https://twitter.com/ejames_c/status/1585463030816870400?s=20&t=o6DjTDJdinJAzZl-N94_gg
Investors tend to have a preference for mental models and decision frameworks like the one described in Superforecasting — which, when you think about it, is well suited to an environment where they can’t directly act to influence company outcomes (unless they’re an activist investor, that is!). Whereas operators tend to make decisions more fluidly, since they can always take action to generate more useful information before (or while) they act!