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11/100: St...
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11/100: Stay Competent

  • Knight Capital Group faced a catastrophic software glitch causing a $440 million loss and eventual collapse
  • The failures were a result of technical debt, outdated risk controls, and incompetent leadership
  • Mastering the principles of a role is crucial for success, even as competencies evolve
  • Incompetence often stems from a failure to grasp the principles of a role, leading to a lack of focus and understanding of responsibilities

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