Botha's Actuarial Perfectionism Under Fire

“Botha understood looming problems better than most: his actuarial training included techniques like “chain ladder analysis,” which insurance companies use to estimate reserves needed for future claims.”

“The board meeting stuck with him for another reason. In haste, he had presented the company’s cash flow incorrectly—the final line in an otherwise impeccable spreadsheet. Mike Moritz spotted the error. Botha, a perfectionist, turned red with embarrassment. Once the meeting dispersed, Botha returned to his desk and wept. Levchin, a fellow perfectionist, came over to console him.”