@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.
- No company or investment strategy is proven until it’s survived a calamity.
- Independence is one of the most under-appreciated assets. Relinquishing it should be done sparingly and with eyes wide open of its cost.
- “Magic made them. Only math will save -them”.
- Everyone wants crazy vision combined with corporate decorum. Rarely are those two things found in the same person.
- 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.
- 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