College teaches you many things. They teach you how to be smart at something but they may not teach you how to sound smart. For better or worse in the corporate world sounding smart can often be as important as actually being smart.
Here are some various terms and phrases I’ve learned that can be helpful whether debating ideas in meetings or expressing them in documents/emails.
Phrases
Altitude of the audience
Make sure what you zoom in / zoom out appropriately on a subject based on who your audience is.
Belt and Suspenders
People who are overly pedantic regarding protocol (particularly around security).
Ex: “We should triple encrypt all messages in transit”
Color in the Lines
Follow all the rules. Often used to express that one should follow all the rules given current circumstances.
Chips on shoulders puts chips in pockets
A common saying among VCs basically means someone with a grudge/something to prove is likely to be successful.
Ding, rings and pings
Distractions from social media, email, slack, etc. (Reactive work)
You get it
This phrase is worth its weight in gold. People feel valued when they hear it and when used strategically it can be used to build team cohesiveness and culture as few other phrases can.
See around corners
Know what’s coming next.
Shots on goal
The number of chances you have to put points on the board
Table Stakes
Things that need to be done that customers expect. Non-differentiated work that nonetheless still needs to be done.
Wood left to chop
Mostly used in finance. Means there is still a lot of work left to be done
Terms
Adverse Selection [information asymmetry]
Occurs when one party in a negotiation has relevant information the other party lacks
Bespoke
Made for a particular customer or user, to be made custom
Canonical
The source of truth
Churn
In business it's expected for you to lose a certain percentage of customers every year.
This can also be used to refer to employee retention. High churn companies tend to not be much fun to work at.
Cornered Resource
Unique resources, monopolies, or patents.
Unique resources can be people (like Steve Jobs) but often aren’t. Although pairing can be (Steve Jobs and Steve Wozniak
Confirmation Bias
We tend to find reasons to like something we like, and the opposite for things we hate
Convention
A way in which something is usually done, especially within a particular area or activity.
Conway’s Law
That systems will over time resemble the management hierarchy.
Creative Destruction
This is the process in a free market system where companies will try to disrupt, replace or otherwise one-up each other.
When a company does it to itself it’s known as “cannibalizing”
Dunning-Kruger effect
Dunning-Kruger effect is a type of cognitive bias in which people believe that they are smarter and more capable than they really are.
Typically the dumber you are the more confident you become because you don't realize how little you know.
Ergodicity
Where the average outcome for the group is the same as the average outcome for the individual.
For example; If 100 random people flip a coin it will have the same outcome as if one person flips a coin 100 times
- Russian Roulette is an example of non-Ergodicity
Externality
A side effect from committing to some action
Fait Accompli
An irreversible accomplishment
First principles / First order thinking
Actively questioning every assumption you think you ‘know’ then creating new knowledge and solutions from scratch.
High leverage work
When the work you do has multiplicative value, not additive.
Common Examples Include:
- Automating part of your work
- Experimenting with new tools
- Recruiting / Hiring
- Public Speaking
- Training
- Exercise
- Telemetry / Analytics in decision making
- Teaching something
- "Give up control"
- Making a decision that unblocks others
- Learning something new that is applicable to your work
- Code reviews
Questions to ask if it is high leverage:
- Can anyone do it? [the low leverage answer is yes]
- Does this make me better at my job
- Does this build my network? Does it build my team's network?
- Is what you're doing reactive [low] or proactive [high]
Heuristic
A rule-of-thumb problem-solving strategy
Idiomatic
Appropriate to the style of art or music associated with a particular period, individual, or group.
Instrumentally useful [aka extrinsic value]
Things are deemed to have instrumental value (or extrinsic value[2]) if they help one achieve a particular end.
They have “extrinsic value”
A tool or appliance, such as a hammer or washing machine, has instrumental value.
Irreducibly
You can not always add more resources to a problem to increase some change.
Often used to explain what adding more people to a team won’t make a project finish faster
Law of Diminishing returns
Results are subject to an eventual decrease of incremental value. Know when it's more impactful to move to the next thing.
Moral hazard
When someone can engage in short term risks without long term consequences.
Non Sequitur
A reply that has no relevance to what preceded it
Ontologies
Data structures used to express the relationships in a system.
A set of concepts and categories in a subject area or domain that shows their properties and the relations between them.
Orthogonal
Independent. operations change just one thing without affecting others.
Paradigm
A typical example or pattern of something; a model.
Panacea
Hypothetical remedy for all ills or diseases
Paralax Error
- Parallax error is when the pointer of a device looks like it's at a different reading when read to the side compared to when read face-on
(if you’re counting your chickens before they hatch, e.g. a premature assumption of a Series B and adjusting roadmap to make that assumption)
Perfunctory
Hasty and without attention to detail; not thorough
Principal Agent Problem
A challenge that arises in scenarios where one party (the principal) delegates work to another party (the agent) but the two parties have divergent interests
This can lead to situations where the agent may not act in the best interest of the principal.
Regression to the mean
Things that are doing really well will have a tendency to regress, while things under-performing will have a tendency to improve simply because of mean regression
Rubric
A scoring guide used to evaluate the quality of students' constructed responses
Underwrite
A verb to assume the risk of something (e.g. a VC underwrites a startup’s strategy)
Variadic
A function of indefinite arity, i.e., one which accepts a variable number of arguments