Fun Fact: “Metaphysics” was a term coined inadvertently by Aristotle because in ancient Greek, meta means after. He wrote a book named “Physics” so the next one was named “Metaphysics”. He never wrote a book about business but that doesn’t mean we can’t learn anything about making decisions with data from him (annotations are mine):
Virtue, then, is a state of character concerned with choice, lying in a mean, i.e. the mean relative to us, this being determined by a rational principle, and by that principle by which the man of practical wisdom would determine it (1). Now it is a mean between two vices, that which depends on excess and that which depends on defect (2); and again it is a mean because the vices respectively fall short of or exceed what is right in both passions and actions, while virtue both finds and chooses that which is intermediate (3). Hence in respect of its substance and the definition which states its essence virtue is a mean, with regard to what is best and right an extreme.
This means that:
- Virtue is determined by a rational principle – This means that ultimately everything is a result of the choices that we make and dependent on the judgement that we have. Data can’t tell us what to do, only we can.
- Virtue is the mean between excess and deficiency – Capitalism is obsessed with big, with growth and with scale. “Move fast and break things” is a post hoc justification for not finding the mean and over indexing on excess.
- Virtue chooses which is intermediate – There is a fundamental equilibrium to find the middle of any given scale. The challenge is to find the right scale, and situate your mindset within it.
A real life example of the failure to live up to these principles is exemplified with WeWork.
My very favorite part of the Adam Neumann legend might be the story of his first encounter with Masayoshi Son, who runs SoftBank Group Corp. and invests its vast piles of money. (One insane aspect of this encounter is that it happened in 2017. A busy two years!) “Mr. Neumann has told others that Mr. Son appreciated how he was crazy—but thought that he needed to be crazier.”
He created a vision to change the world, but failed to execute on his vision. He personally benefited but other people were hurt. This is what happens when you over-index towards excess rather than observing the mean. Sometimes when you “go for it” you can get lucky, but it is always risky to move away from the mean. When you are dis-ordered and ungoverned you increase the chance of making a bad decision. There is a reason for the maxim “the higher you climb the harder you fall”.
How do you ensure that you are governing yourself (and your organization) in observation to the mean? These are three guidelines for applying Aristole to your career:
- Create the right framework to find the intermediate within – Think about your customers and other stakeholders and understand the limits of it. If you focus on the customer, and think about their experience (including edge cases) you will be able to understand where excess and deficiency lie.
- Be aware of making a “category error” – Don’t think that your skill and aptitude in one area directly translates into another. Learn from other’s mistakes and find the “man of practical wisdom” in order to guide you when you undertake something new.
- Don’t be fooled by a need for speed – Sometimes the best things take time. Sometimes if things aren’t broken they don’t need to be fixed.
Please Think Responsibly 