Modern Wisdom

Podcast Notes Key Takeaways

• “There is much more talent to tap into than ever before, but in most parts of the world, we are screwing it up”– Tyler Cowen
  • “We’re rewarding homework at every stage of the process, and then we’re shocked when we get too many conformists” – Tyler Cowen
  • Credentialism, seniority requirements, bureaucratized evaluations, and conservative HR departments also contribute to the hiring problem
• Tyler’s definition of talent: people with an energetic spark, who have new and creative ideas that will change how things are done
  • In the market of ideas and technology, the top performers are at least 10x more valuable than the average performers—making hiring of utmost importance
• Talented candidates can look ‘beyond the immediate moment‘
  • “It’s very easy to optimize too locally…always try to be looking one level broader”– Tyler Cowen
  • Example: Ask them if Romeo & Juliet were really in love with each other? Or ask who was the best talent scout in Star Wars? Figure out one of the candidate’s interests and ask a question that explores their perception and thought-process rather than just knowledge.
• Unique interview questions:
  • What tabs are currently open on your browser right now? Engaging this question will give you an idea of how they manage their ideas consumption.
  • Which conspiracy theory do you think is plausible? Regardless of the truth, it shows that the candidate is curious and capable of thinking outside the box.
  • How ambitious are you? It’s very hard to fake this answer.
  • How do you practice and improve? Very few people treat their chosen pursuit like that of an athlete or musician. Exceptional people constantly evaluate how their inputs affect their outputs, but few people do it in their professional work.

Read the full notes @ podcastnotes.org

Tyler Cowen is the Holbert L. Harris Chair of Economics at George Mason University, a columnist, podcaster and an author.

Finding and recruiting the best talent is perhaps the most important job that an organisation has. Skilful, enthusiastic, keen staff can make or break a business, so why is it that most companies are mostly useless when it comes to discovering talent?

Expect to learn whether population collapse is coming very soon, whether talent is innate or developed, why there is a crisis of talent when we have more people on earth than ever before, whether you should look at someone's parents before hiring them, the best questions to ask in an interview, what SpaceX's hiring strategy teaches us about thoroughness, how Tyler screens young staff for the most original thinkers and much more...

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