To ensure genuine collaboration across funds, Centerbridge structures compensation so a "substantial minority" of an individual's pay comes from other areas of the firm. This economic incentive forces a firm-wide perspective and makes being "part of one team" a financial reality, not just a cultural slogan.

Across three billion years and four stages of mind (molecule, neuron, network, community), intelligence has consistently advanced by diversifying its thinking elements. The most powerful minds at each stage are those with the greatest variety of components. This frames diversity as a fundamental, time-tested strategy for improving competence in any system, including organizations.

The most effective way to convey complex information, even in data-heavy fields, is through compelling stories. People remember narratives far longer than they remember statistics or formulas. For author Morgan Housel, this became a survival mechanism to differentiate his writing and communicate more effectively.

Unlike committees, where partners might "sell" each other on a deal, a single decision-maker model tests true conviction. If a General Partner proceeds with an investment despite negative feedback from the partnership, it demonstrates their unwavering belief, leading to more intellectually honest decisions.

Structuring compensation around a single, firm-wide P&L, rather than individual deal performance, eliminates internal competition. It forces a culture of true collaboration, as everyone's success is tied together. The system is maintained as a meritocracy by removing underperformers from the 'boat.'

Bianca Gates' "Lean In Circle" thrived for 13+ years due to its structure: mandatory attendance (only two misses allowed), a focus on deep topics (the "top and bottom 5%"), and strict confidentiality. This format prevents surface-level chatter and builds true trust.

Counteract the tendency for the highest-paid person's opinion (HIPPO) to dominate decisions. Position all stakeholder ideas, regardless of seniority, as valid hypotheses to be tested. This makes objective data, not job titles, the ultimate arbiter for website changes, fostering a more effective culture.

Gaining genuine team alignment is more complex than getting a superficial agreement. It involves actively surfacing unspoken assumptions and hidden contexts to ensure that when the team agrees, they are all agreeing to the same, fully understood plan.