6 LIFE LESSONS WE CAN LEARN FROM BOBBY AXELROD

Billions is a television series of wealth, influence and corruption collide in this drama set in New York. Shrewd U.S. attorney Chuck Rhoades is embroiled in a high-stakes game of predator vs. prey with Bobby Axelrod, an ambitious hedge-fund king. 

in this show, there are so many things going on. In this complex drama, there are various concepts being introduced and me being a person who loves looking for the lesson in just about everything. I found some great nuggets to share with you. 

Here are 6 life lessons from my favorite character Axe! (bonus content at the end) 

1. Always Be Prepared

Time and again, it has been said that opportunity is simply luck meeting preparation halfway. So, when Lara (Malin Akerman) went into a nurses’ business not fully prepared, Axelrod, who had been fairly successful in business, had some schooling to do. “ I tried to tell you. You weren’t ready, but you wouldn’t hear it from me…What is it that you do that you’re the best in the world at? You work for a service you didn’t invent, a formula you didn’t invent, a delivery method you didn’t invent. Nothing about what you do is patentable or a unique user experience. You haven’t identified an isolated market segment. Haven’t truly branded your concept. Do you need me to go on? So, why would an investment bank put serious money into it?” Axelrod told a perplexed Lara.

2. The Numbers Tell The Story

According to Axelrod, the numbers will always tell the story. No one would run a hedge fund for a long time without knowing so. Neither would one bet on a racing horse without using the numbers to understand what’s happening. Axelrod, in conversation with one of his most trusted people, Orrin Bach ( Glenn Fleshler), said of the betting game: “ I watched people running towards the betting window with high hopes, no plan, then I watched them walk away from the track ripping up their tickets in disgust. That wasn’t gonna be me.” Instead, Axelrod figured out where the action was. Where the guys who had a plan were. He found out that they bet late, and they bet heavy because they weren’t focused on the track, but the stories the numbers told.

3. With The Money, Comes Freedom

Money does not buy happiness. It paves way for someone, anyone at that matter, to buy the things that make them happy. There’s one thing money can buy: Freedom. And when you have a billion dollars, your everyday schedule can be anything you want it to be. For Axelrod, each day has no formula and he has the power to do whatever he wants. The meeting can only start when he shows up. And when Axelrod wants a cheesesteak, he not only orders for himself, but for his entire staff. Part of being Axelrod means everyone brings themselves to you, and not the other way around. Sometimes it’s a head of state who’s requesting a favor, or an employee whose Ivy League degree does not equate to the experience you have amassed by being on the field. Either way, with a lot of billions does come a lot of responsibilities, and a lot of freedom.

4. You Don’t ‘Try’ To Be Loyal

Loyalty is a word that is often thrown around, yet not so many get to live up to it. In Axelrod’s case, a test of loyalty presented itself when one of his traders, Mafee ( Dan Soder), received an offer from a rival firm, declined it and assured Axelrod of ‘trying to be loyal’, only for Axelrod to say, “ You don’t try to be loyal. You just are.” True to Axelrod’s words, it didn’t take long before Mafee joined Taylor’s new firm, proving that, when it comes to loyalty, it’s better to just be instead of trying to. 15 years of working with Axelrod on Wendy Rhoades’ ( Maggie Siff) part, despite the cognitive dissonance she had to undergo being married to his arch-enemy, is as loyal as one can get.

5. Have A Passion For What You Do

True to the piece of advice Axelrod gave his ex-wife Lara, the one thing in the world he could do, even with his eyes closed, was trading. It was how he got the trust of investors in the first place. It was also why he was an extremely successful businessman. He had his employees, who did the work for him because he could afford to. He had a psychiatrist to help keep his employees sane. That is unheard of in most, if not all institutions. To go to those lengths, one has to be extremely passionate about what they do. More than anything, Axe Capital survived because Axelrod would go to the ends of the earth to make sure his business kept running, and his investors were happy.

6. Never Forget Where You Come From

Earlier on the show, one of the very first times we got to see Axelrod was in reference to his childhood. He and his then-wife, Lara were at a pizzeria, indulging in a slice just like he did when he was a child. Except we learned that the owner of the pizza shop was having trouble making rent, and Axelrod was ready to step in. That wasn’t the only time Axelrod tried to use his billions to salvage his childhood (link to “Bobby Axelrod: The Boy Whose Dad Never Came Back” by Fan Fun with Damian Lewis blog

Bonus Content

Here are some of the secrets of using Game Theory to gain the ultimate leverage in business. Get ready to level up and outsmart your competition and secure your position at the top.

Understanding the Prisoner's Dilemma: The Game Begins

• The Prisoner's Dilemma is a classic game theory scenario.
• Two players face a decision: cooperate or betray each other.
• Analyze the potential outcomes and payoffs to determine the best strategy.
• Mastering this dilemma gives you a powerful advantage in negotiation and decision-making.

Strategic Cooperation: Uniting for Mutual Benefit

1. Cooperation is a strategy where both parties work together for a common goal.
2. Foster trust and build alliances with other businesses in your industry.
3. Collaborate on projects, share resources, and pool expertise.
4. Strategic cooperation strengthens your position in the market and creates win-win outcomes.

Calculated Betrayal: Navigating Risk and Reward

1. Betrayal involves prioritizing self-interest over cooperation.
2. Assess the potential gains and risks of betraying a partner.
3. Consider the long-term consequences and the impact on your reputation.
4. Sometimes, strategic betrayal can lead to short-term advantages but may damage relationships.

Establishing Credibility: Walking the Talk

1. Build a reputation for integrity and trustworthiness.
2. Honesty and reliability are vital for successful cooperation.
3. Deliver on promises, honor agreements, and maintain transparency.
4. Establishing credibility enhances your leverage and fosters long-term partnerships.

Negotiation Tactics: Outmaneuvering the Competition

1. Leverage the principles of the Prisoner's Dilemma during negotiations.
2. Understand your counterpart's motivations and potential strategies.
3. Use this insight to shape your negotiation tactics for maximum advantage.
4. By understanding game theory dynamics, you can anticipate and outmaneuver the competition.

Win-Win Solutions: Maximizing Mutual Benefit

1. Seek win-win solutions where both parties achieve their objectives.
2. Look for opportunities to create value and share the benefits.
3. Identify common interests and work collaboratively toward shared success.
4. Win-win outcomes build trust, strengthen partnerships, and increase leverage.

Conclusion:

You've just unlocked the secret weapon of game theory and the Prisoner's Dilemma, Remember, strategic cooperation, calculated betrayal, and negotiation tactics are the key elements in harnessing leverage for your business. By understanding game theory dynamics, you can navigate complex situations, outsmart your competitors, and forge powerful partnerships.

Now it's time to put your knowledge into action, my entrepreneurial comrades. Embrace the game, seize opportunities, and play to win. With game theory as your ally, you have the power to redefine the rules and dominate the business arena.

Cheers,

This article is written by Dr. Michael Burks Jr. Business advisor, Nationally recognized speaker, entrepreneur, and author. If you’re a CEO, VP or any high-level professional committed and serious about being challenged to think, move, and respond differently to come out the other side with a clear plan to explosively grow your business or organization. Then the customized VIP executive session is for you. Read more articles below.