If you are the boss it's wise to remember that there are lots of things you don't know and lots of people who hope you won't find out.

Josephson’s line is a caution to leaders against the illusion of omniscience that can come with authority. Being “the boss” often reduces the flow of candid information: subordinates may hide mistakes, filter bad news, or exploit a leader’s blind spots for personal advantage. The quote urges humility and active curiosity—recognizing what you don’t know and creating conditions where people are willing (or compelled) to tell you what you need to know. It also implies an ethical dimension: power attracts concealment, so responsible leadership requires transparency, accountability systems, and a culture that rewards truth-telling rather than flattery or fear-driven silence.