August 26, 2020

#Plog: Experiments with Truths |A Solo Episode with James Beshara on Below the Line

Check out the Below the Line Episode Page & Show Notes

The scientific community rewards scientists that make corrections and improve on their initial discovery. However, the law community is only focused on convincing people of a certain truth, not the actual truth.
- “Creation is like science. It is continual experiments with the truth.” – James Beshara
- “The critics apparent value is in persuasion, not in truth. They’re like the lawyer.” – James Beshara
James has created several startups that have failed and at one point, even told his wife to not let him start any more companies
- However, after a while, he was able to reflect on the failures and realized it was a great learning experience
  - “It was the most fruitful, from a personal, professional, and spiritual lens of any other time in my life” – James Beshara
You’ll learn a lot more about business from founding a company than you will by getting an MBA or joining an existing company
- “I was learning on every front” – James Beshara

What is the difference between a scientist and a lawyer?
- A scientist runs experiments to find the truth. If they’re successful, anyone can replicate their experiment to get the same result.
- A lawyer has the goal of convincing people of a certain story which may or may not be true
The scientific community rewards scientists that make corrections and improve on their initial discovery. However, the law community is only focused on convincing people of a certain truth, not the actual truth.
“Creation is like science. It is continual experiments with the truth.” – James Beshara
- “The critics apparent value is in persuasion, not in truth. They’re like the lawyer.” – James Beshara
  - Meanwhile, a founder is like a scientist. They’re constantly seeking the core truth.
  - Critics or lawyers don’t get penalized for being wrong nearly as much as scientists or founders do. Therefore, scientists and founders are more incentivized to seek the truth.

James has created several startups that have failed and at one point, even told his wife to not let him start any more companies
- However, after a while, he was able to reflect on the failures and realized it was a great learning experience
  - “It was the most fruitful, from a personal, professional, and spiritual lens of any other time in my life” – James Beshara
    - You’ll learn a lot more about business from founding a company than you will by getting an MBA or joining an existing company
      - “I was learning on every front”
Investors love backing founders who took the risk of starting a company, even if that company failed
- People who speculate about companies don’t have any skin in the game and don’t have the same perspective as actual founders who tried to start their own company
  - Warren Buffett has famously said that being a businessman has made him a better investor and being an investor has made him a better businessman