Cooperation & Negotiation

  • We’re never in a situation where the person has to negotiate with you. They have some alternative, they can walk away, which means that the only reason anybody’s going to engage you in a negotiation is because by doing so they’re going to get a better outcome than by not doing so. If that’s the case, then every negotiation is collaborative. Having a favorable outcome for yourself means that you have to have a favorable outcome for them as well. Otherwise, they’re not gonna be part of this conversation, and definitely not future conversations. — Todd Simkin
  • One of the other teachers of the class at Susquehanna has such a lovely touch, he just says, “tell me more”, and tell me more doesn’t have any value laid in it, it doesn’t have any judgment in it. It’s just saying, go ahead and add more words to what you’ve already shared. You want to take this action against this type of order flow? Why? Tell me more. And effectively what my father was saying is the same as what as what Mike, my co- teacher says, when he’s talking to our students, which is just, I cannot reach a conclusion about what you’re saying, until I understand it better. So help me understand it better. Tell me more. ..This approach establishes very early, that we’re on the same side that we have, if not all of the same goals, we have alignment with our values and our goals, I want to support you says all I’m looking for is an excuse to make sure that you and I are facing the same direction and facing the world together. Help me get there bring me into alignment with you by by telling me more.— Todd Simkin What stands out for me is the magic that can happen when we combine the principles of charity with a demand for mental rigor and vulnerability.
  • "What can this person teach me" is a much more productive question than "How is this person wrong?"
  • "Don't get jealous of people you should be learning from" Ed Latimore
  • Ed Thorp: “If I do this what do I want to happen and if I do this what do I think will happen?”
  • Kipling: "If you don't get what you want, you either didn't really want it, or you tried to negotiate over the price"
    • "You don't get what you deserve, you get what you negotiate" - Carass
    • "Do not confuse contracts for power"
    • "When something becomes a commodity, there will be concentration. Hell, Samsung makes flat screens for Sony because the margins are so bad." - Lefetz People without agency commoditize themselves.