Risk Management as a Course

I think one of the most valuable courses that aspiring students should take, that is not widely available, is risk management.

Risk management should cover the following:

  • Managing insurance
  • Managing legal/compliance
  • Evaluating statistical probability/mathematical modelling
  • Understanding
  • Manage people and culture
  • International relationships/cross border relationships
  • Managing technological risk

A great example of a fantastic risk manager is Travis Kalanick from Uber. In 1998, Travis dropped out of UCLA with some of his classmates to found Scour, a search engine for downloading potentially unlawful (copyright protected) content. He learned to navigate the risks of this business and applied this knowledge to successfully navigate taxi red tape/monopolies/regulatory hurdles in multiple countries.

Another great example is Chris Sacca who has one of the most impressive track records as a venture capitalist. He has a great understanding of managing risk. He claims he had a negative net worth of $4 million and worked off his debt, eventually becoming a billionaire.

Early Thanksgiving Appreciation

Early Thanksgiving Appreciation: Thursday, November 26

I think I should be more thankful to all the positive influences in my life.  If I forgot to thank someone it may be purely accidental Without further ado, I’d like to thank all of the following people (while preserving confidentiality):

  • Banks for providing me with the credit card facility I needed to start my business
  • Technological innovations which I’ve leveraged to build companies
  • Chess and video games for teaching about strategy
  • My father, mother, and one of my siblings who have been very trusting, generous and supportive despite coming from a humble immigrant background
  • My business partners who I expect to become increasingly successful who also believe in treating all stakeholders well
  • My team members who I’ve trusted for years and produce amazing quality work
  • All of my suppliers I used who have been very reliable and honest
  • All of my customers who trust the products/services I provided
  • All of my expert advisers
  • Philanthropists who sacrifice lifestyle to continue re-investing and solving hard problems instead of coasting on their previous success
  • Entrepreneurs who I’ve supported and want to help succeed
  • Scientists who apply their problem solving skills
  • Multiple countries that have been open for business and entrepreneurship

I simply posted this to remind myself on all the positive influences.  I think the common element of the people I’m thankful for are people who are hard working and want to solve problems.