PHLX leadership

The Philadelphia Stock Exchange appears to be in good hands under the leadership of CEO Meyer (Sandy) Frucher. I say this because of reading CIO Magazine’s interview with Mr. Frucher.

When asked what his biggest IT-related lessons learned, Mr. Frucher responded:

The biggest lesson is never to underfund it because it’s much harder to catch up. Number two is do not rely on anything you build to be a long-term solution, because the world will change and there are forces that will make you change your strategies and your technologies to comply on a moment’s notice. The third lesson is what makes the other two lessons so important: The world is changing at speeds much greater than anybody could ever have anticipated, and therefore, you can never rest on your laurels. The expression that people frequently use is, If only I could get there, but “there” just keeps moving, so you need to be prepared.

(Emphasis is mine.)

I also agree with Mr. Frucher’s perspective on failure–as an often necessary prerequisite to success in business (and, I would argue, in life).