Albert-László Barabási is the Robert Gray Dodge Professor of Network Science at Northeastern University, where he directs the Center for Complex Network Research, and holds appointments in the Department of Medicine at Harvard Medical School and the Central European University in Budapest. He is the author of four books with his latest one entitled: The Formula: The Universal Laws of Success.
Some interesting insights from this episode:
- The definition of success is the rewards we earn from the communities we belong to. While your performance is about you, your success is about us. It’s what we as a community acknowledge and value.
- The first law of success is that performance often drives success but when performance can’t be measured, networks drive success.
- The second law of success is that performance is bounded but success is unbounded. Marginal differences in performance may lead to order of magnitude differences in success (fame, fortune, recognition, etc.).
- The third law of success if that prior success will increase the odds of future success. It is the law behind why the rich get richer and the powerful stay that way.
- The fourth law of success is that while team success requires diversity and balance, a single individual will inevitably receive credit for the group’s achievements.
- For performance oriented teams, diversity and empathy are the most critical success factors while for innovation oriented teams, leadership is most important.
- The fifth law of success is that with persistence, success can come at any time. Your ability to succeed neither declines nor improves with age.