@MorganHousel has another fantastic post on lessons applicable to a wide range of areas from the recent We Co (parent of WeWork) decision to postpone their IPO.

1. No company or investment strategy is proven until it’s survived a calamity.
2. Independence is one of the most under-appreciated assets. Relinquishing it should be done sparingly and with eyes wide open of its cost.
3. “Magic made them. Only math will save -them”.
4. Everyone wants crazy vision combined with corporate decorum. Rarely are those two things found in the same person.
5. Good products do not automatically create good businesses, especially if part of the product’s consumer appeal is that the business sells it for less than the cost of its production.
6. Every business has three main stakeholders: Customers, employees, and shareholders. You can ignore any one of those for a while, but eventually all three have to be cared for