On Objectivity:
In 2004, serving as a jury foreperson in San Francisco marked a pivotal moment in my life, significantly enhancing my commitment to objectivity more than any previous experience. Our group was composed of ordinary citizens. The plaintiff and defendant were also common folks like us, making the jury selection very straightforward. No jury consultants, no psychological evaluations were involved. My experience of juror selection before that day was in movies – if you haven’t seen the movie "12 Angry Men," watch it! Following some basic questions from the judge, who found no objections to my serving, I was selected. The trial, though seemingly unremarkable—a dispute between a couple with their daughter caught in the middle—proved to be anything but. It underscored the tragic potential for a child to lose a parent.
As we moved into deliberations, the judge's directive was clear: declare the defendant guilty only if convinced beyond a reasonable doubt. This principle, the highest standard in the US legal system, mandates that guilt can only be established when there is no other plausible explanation drawn from the evidence presented. It embodies the presumption of innocence, protecting against the miscarriage of justice by requiring overwhelming evidence before a conviction.
The first agenda item was to select the jury foreperson. I volunteered, and it was unanimous. I suspect many just didn't care for the additional responsibility. Second was to determine if there was unanimity. Initially, our collective judgment was split; nine jurors leaned towards guilt, while three of us, including myself, remained undecided. I found it perplexing that so many could swiftly conclude one way or the other without deeper examination. Advocating for a meticulous review of the evidence against the charges, as outlined by the judge, I encountered frustration from jurors impatient for a swift resolution. Their reluctance to deliberate beyond a minimal timeframe starkly contrasted with the gravity of deciding an individual's fate.
Despite the judge’s explicit instructions, a premature drive to convict was apparent, with the majority favoring a quick resolution to resume their personal plans. In stark contrast, a minority of us demanded a comprehensive analysis of each charge. by the way, not trying to assign any virtue to myself, but i simply couldn't decide without examining the evidence in detail. This insistence on diligence eventually led to a shift in consensus, with ten jurors ultimately persuaded against a verdict of guilt, citing insufficient evidence to meet the rigorous standard of 'beyond a reasonable doubt.'
This experience illuminated the scarcity of objective decision-making and the ease with which minor inconveniences can overshadow the profound significance of our decisions. In my career as an investor, I face the challenging task of assessing many qualified candidates. Nevertheless, I believe I did my best to always assess and give significant credence to their track record, backing those with proven competence and dedication, underscoring the value of merit and track record in my decisions. The disregard for these qualities can significantly undermine societal progress.
Reflecting on this ordeal, I realized the profound impact a lack of objectivity can have, prompting me to advocate for explicit justifications in decision-making processes. This is why board minutes should be meticulous and reviewed when doing due diligence on a company to assess the objectivity quotient of that board. Such practices promote thoughtful deliberation and mitigate bias, essential for fostering objective decision-making skills. The good news is that objectivity can be taught.
To cultivate objectivity, I recommend:
Mandate Written Justifications: Require concise written rationales for decisions to ensure thorough, evidence-based reasoning. This encourages depth in analysis and clarity in thought, compelling team members to substantiate their decisions with solid evidence and logical argumentation.
Value Adaptability: Cultivate a team culture that is open to changing opinions and strategies when presented with new evidence. This flexibility demonstrates intellectual honesty and the recognition that initial conclusions may need adjustment as new information becomes available. It underscores the importance of continuous learning and the willingness to pivot based on sound evidence.
Promote Objective Evaluation: Encourage the impartial assessment of evidence and arguments to minimize biases and enhance decision-making quality. This approach helps ensure that decisions are made based on data and rational analysis, rather than preconceptions or emotional reactions.
Analyze Historical Outcomes: Integrate a systematic review of the outcomes of past decisions similar to the current situation. By identifying what worked, what didn't, and understanding the reasons behind past successes or failures, you can apply these insights to improve current decision-making. This historical perspective adds depth to your strategy, enabling the team to learn from the past and make more informed decisions moving forward.
Read Essential Books on Objectivity: Thinking, Fast and Slow" by Daniel Kahneman, "The Art of Thinking Clearly" by Rolf Dobelli, "Nudge" by Thaler and Sunstein, and "When the World Changed: People and Events That Turned the Tide of History" by Joseph Cummins, while the last book isn't directly related to decision making, it highlights the importance of decisions in shaping the course of history. There are many more great books.
These practices are essential not only in our daily lives and careers (for me, investing) but also in national development. Objectivity-lacking capital can disrupt markets negatively. A report I read last year on bias highlighted the widespread presence of implicit bias across society's strata, with women and minority groups often the most disadvantaged, emphasizing the need for objectivity to counter prejudice and promote sound decision-making. Since we all harbor biases, recognizing and striving for objectivity is crucial for creating a more equitable world for future generations. Remember, in the journey of life, sometimes we are the deciders, and at other times, we are decided upon. Today's empires may become tomorrow's museums, serving as reminders of the lasting impact of our decisions and the transient nature of power.
My next musing will be titled "On Intellectual Independence."
Happy International Women's Day!!
Food Entrepreneur | Investor | Board Director | Passionate change-agent
8 个月I really enjoyed this
CEO @ Novus Agro
8 个月Two profound messages in 1 post i.e. the importance of "rigour" & "objective rationality" in key decision making. Thanks for the reminder.