Sheila Bair on Prediction Markets
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The Power of Teams: From Everest to the Pinnacle of Business Success
(original source Thought Leaders LLC)
“In 2002, while relaxing at Everest Base Camp, I fell into conversation with Dan, a fellow climber about to make his fifth attempt to reach the summit alone. Dan was determined to be completely self-sufficient, carrying all of his own gear and climbing without a guide. I wondered why anyone would take on such a huge challenge without accepting even a modicum of help. But I wished him luck and rejoined my team to prepare for our climb of the treacherous Khumbu Ice Fall, the first major obstacle on our route to the summit. A week later, at Camp III, I found Dan camping alone and stopped by briefly to offer him a cup of tea and an energy bar. Cordially but firmly, he refused, reiterating his decision to rely exclusively on the supplies he had carried up himself from Base Camp. Later, I heard that Dan’s fifth attempt to reach the summit of Everest had failed. His determination to climb the world’s tallest mountain alone had defeated him.”
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