The Industrialist

The Industrialist

Target Selection & Diligence

The Limits of Diligence

Why uncertainty persists—and how experienced teams decide anyway

David Carr's avatar
David Carr
Apr 08, 2026
∙ Paid

Diligence is often treated as the moment when uncertainty gives way to clarity.

Data is gathered.
Assumptions are tested.
Risks are surfaced.
Confidence increases.

In practice, diligence rarely resolves uncertainty. It reorganizes it.

Some questions are answered. Others are reframed. And a meaningful portion of what matters most remains stubbornly unknowable …

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