These are the principles guiding our work.

Most importantly:

• Survive. Therefore don’t take catastrophic risks. Some examples of paths leading to our demise: bad investments especially with imprudent use of leverage, getting sued and broken up in court, poor leadership succession, or a gradual decline and shift in cultural values that then leads to mission-drift and potentially a proactive dissolution of the firm.
• Stay true to our culture.
• Protect and build the brand. It takes decades to build and could get destroyed in a moment.

In no particular order:

• Work in empowered teams.
• Great documentation -> for longevity, collaboration, and managing key-person risk.
• Transparency, both internal and external. Open-source where feasible. We have very few competitors or needs for secrecy.
• Take the long-term view, including how people can grow. Therefore our hiring by default looks for generalists with great culture fit.
• Map risks and mitigate catastrophic risks very aggressively.
• Expect and facilitate continuous improvement in all staff.
• Continuously maintain succession plans.
• Visualise toil and keep it to a minimum.
• Iterate. Seek feedback frequently and learn from it.
• Insist on well-aligned incentives. No “something for nothing”.
• Make things simple through systems and processes.