Accountability
Akira the Don, Naval Ravikant
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You can't blame it on the Steward or the stewardess You can't blame it on the co-pilot You're the captain You're responsible for this ship You can't blame it on the Steward or the stewardess You can't blame it on the co-pilot You're the captain You're responsible for this ship Accountability accountability Accountability is important because That's how you're going to get leverage That's how you're going to get credibility It's also how you're going to get equity You're gonna get a piece of the business When you're negotiating with other people Ultimately if someone else Is making a decision about How to compensate you That decision will be based on How replaceable you are If you have high accountability That makes you less replaceable And then they have to give you equity Which is a piece of the upside But equity it'self is a good example because Equity is also a risk based instrument Equity means you get paid Everything after all the People who need guaranteed money Are paid back So if you look at the hierarchy Of capital in a company The employees get paid first They get paid the salary first In legal proceedings The salaries are sacrosanct If you're a board member and The company spends too Much money and has back salaries to pay The government will go after you personally To pay back the salaries So the employees get the most security In exchange for that security They don't have as much upside You can't blame it on the Steward or the stewardess You can't blame it on the co-pilot You're the captain You're responsible for this ship You can't blame it on the Steward or the stewardess You can't blame it on the co-pilot You're the captain You're responsible for this ship Accountability (Accountability) Accountability (Accountability) Next in line would be the Debt holders who are Maybe the bankers who lent money to the Company for operations and they Need to make their Fixed coupon every month or every year But they don't get much More upside beyond that Now, they might be making five, 10 15, 20, 25% a year But that's where their upside is limited to And then finally are the equity holders And these people are actually gonna Get most of the upside So once the debt holders are paid off And the salaries are paid off Whatever remains goes to them But if there isn't enough money to pay Off the salaries and the debt holders Or if there's just enough to Pay off the salary and the debt holders Which is what happens with most businesses Most of the times The equity holders get nothing So the equity holders take on Greater risk, but in exchange They get nearly unlimited upside And you can do the same with all of your work So essentially Taking accountability for your actions is The same as taking An equity position in all of your work You're essentially taking greater Downside risk and greater upside risk But realize that in modern society The downside risk is not that large People will forgive failures as Long as you were Honest and made a high integrity effort And so people should be taking on a Lot more accountability than They actually are You can't blame it on the Steward or the stewardess You can't blame it on the co-pilot You're the captain You're responsible for this ship You can't blame it on the Steward or the stewardess You can't blame it on the co-pilot You're the captain You're responsible for this ship Accountability (Accountability) Accountability (Accountability) An example of accountability is You're an airplane pilot as a captain You're taking on accountability for The entire plane Let's say that something goes Wrong with the aircraft You can't later blame it on anyone else You can't blame it on the Steward or the stewardess You can't blame it on the copilot You're the captain You're responsible for the ship If you screw up, you crash the ship And there are immediate consequences In the old days The captain was expected to go Down with the ship if the ship was sinking Literally the last person who got to Get off was the captain I think of accountability as reputational Skin in the game It's putting your personal reputation on the Line as skin in the game Accountability is a simple concept The only part of accountability that may Be a little counterintuitive is That we're currently socially brainwashed to Not take on accountability Is that we're currently socially brainwashed To not take on accountability Not in a visible way But I think there are ways to Take on accountability where every Member of a team can take On accountability for their portion That is how you get a Well-functioning team while still Putting credit's and losses in The correct columns (Accountability) (Accountability, Accountability)
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"Accountability Lyrics." Lyrics.com. STANDS4 LLC, 2024. Web. 29 Apr. 2024. <https://www.lyrics.com/lyric-lf/10774772/Akira+the+Don/Accountability>.
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