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Today’s gem is this framework from Jeff Bezos around data and anecdotes:
Shoutout to Zach Ware for surfacing this gem!
I’ve previously written about the “Scuttlebutt Method” and how important it is to speak to people and gather anecdotes. You gain incredible insights that may not be reflected in whatever dataset you’re looking at. And, as Bezos suggests, the dataset could be entirely misleading in the first place.
Don’t fall into the trap of relying solely on numbers/data. Especially if you’re an analytical person like myself, it’s easy to get buried in Excel sheets. Get out there and speak to relevant people. One conversation may be worth thousands of rows of data.
If you want a good read on how data can be wildly misleading, check out the book Everybody Lies. It’s a fantastic book. As well, if you want to further read on the Scuttlebutt Method for investment research, check out Common Stocks and Uncommon Profits. Also a fantastic read.
