Elon Musk and the Peter Principle

Elon Musk has big plans for dogecoin guys (!)

Elon's enthusiasm to change the world goes hand in hand with his expertise in crypto (!), But it all resulted in some degree of disappointment. Musk is not alone in this unfortunate habit. Successful tech entrepreneurs, and even some lucky investors, are highly vulnerable to the Peter Principle. The Peter Principle was first posed as a corporate governance issue in 1969! The Peter Principle highlights the troubles that successful employees often face when promoted to a position beyond their abilities. The concept assumes a broader meaning over time, arguing that successful people will expand into new areas until they reach their capability limits, and sometimes fail extraordinarily. Silicon valley leaders in particular are constantly experimenting to reach beyond what they know and to prove that their unique understanding applies to wider areas. Like Musk, they're often wrong! Musk's interest in crypto reminds us of the Peter principle. Footnote: Musk is a business genius, we believe Tesla and SpaceX will bring tremendous benefits to humanity.   Elon Musk and the Peter Principle Source: https://www.coindesk.com/ You may also be interested in: What's Happening in the Cryptocurrency Market? (May 19)