# Principal-Agent Problem: Act Like an Owner

An episode of [Naval](https://invisiblenetwork.ai/podcast/1454097755), 8 Jul 2019, 6:42.

Audio: https://traffic.libsyn.com/secure/naval/Naval-Ep43.mp3?dest-id=1103966

If you think and act like an owner, it's only a matter of time until you become an owner. • A principal is an owner; an agent is an employee 0:00 • A principal's incentives are different than an agent's incentives 1:08 • If you can work on incentives, don't work on anything else 2:15 • When you do deals, it's better to have the same incentives 3:15 • If you're an employee, your most important job is to think like a principal 4:05 • Deal with small firms to avoid the principal-agent problem 5:29 Transcript: http://nav.al/principal-agent

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