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Some jobs are dogs—trash jobs—while some are pussycats. Do we try to turn dogs into pussycats? We don't; we identify and foster our "core competence" knowing which is pussycat work. We gradually eliminate the trash jobs.
Without transaction costs applied to actual performance we don't have a compass to point the path to our core competence. We have nothing but a packet of anecdotes—stories we tell from our selective memories.
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