Principal-Agent Problem: Act Like an Owner - Naval  ## Metadata - Author: **Naval** - Full Title: Principal-Agent Problem: Act Like an Owner - Category: #articles - URL: https://nav.al/principal-agent ## Highlights - A principal is an owner; an agent is an employee ([View Highlight](https://read.readwise.io/read/01hr47fh1te53qg1q610t2jnhe)) - If you want it done, Go. If not, Send ([View Highlight](https://read.readwise.io/read/01hr47h1gdhqew63avy99pn5t5)) - As Charlie Munger says, “[Never, ever, think about something else when you should be thinking about the power of incentives.](https://www.google.com/search?newwindow=1&rlz=1C1CHBF_enUS795US795&ei=zf8cXdbjJ8HRtQbpxIO4Bg&q=Charlie+Munger++work+on+incentives&oq=Charlie+Munger++work+on+incentives&gs_l=psy-ab.3..33i22i29i30.18324.27313..27574...2.0..0.220.3103.1j16j4......0....1..gws-wiz.......33i10j33i299j33i160.xabIqLhfyIY)” ([View Highlight](https://read.readwise.io/read/01hr47ks72cscpxxd6ay78z3qb)) - I prefer to work with boutiques. My ideal law firm is a law firm of one. My ideal banker is a solo banker. Now, you’re making other sacrifices and trade-offs in terms of that person’s resources—and you are betting big on that person. But you’ve got one throat to choke. There’s no one else to point fingers at; there’s nowhere to run. The accountability is extremely high. ([View Highlight](https://read.readwise.io/read/01hr47v6adj29b3shkcxbs58tb))