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When the Trump administration came to power, the chairman of the PCAOB, James Doty, was in the middle of trying to negotiate a new arrangement with Beijing. But Doty was removed in 2018 by Securities and Exchange Commission chairman Jay Clayton, who was chosen by Mnuchin. Clayton was also a legal adviser to Alibaba. As he had so many times before, Trump’s pro-business Treasury secretary had effectively short-circuited America’s response to China’s economic aggression. The massive fraud and corruption these practices allowed eventually became well known enough that a cottage industry of short sellers cropped up. By simply performing basic research on these companies, firms like Muddy Waters Research were able to expose fraud after fraud. They were featured in a 2018 documentary called The China Hustle, which chronicled the efforts of Wall Street whistleblowers to call attention to the huge scope and scale of the probtem. But as so often happened, when China’s economic aggression was exposed, it simply changed its tactics.
Chaos Under Heaven
Josh Rogin
At Amazon, after a brief exchange of greetings and chitchat, everyone sits at the table, and the room goes completely silent. Silent, as in not a word. The reason for the silence? A six-page document that everyone must read before discussion begins. Amazon relies far more on the written word to develop and communicate ideas than most companies, and this difference makes for a huge competitive advantage.
Working Backwards
Colin Bryar and Bill Carr
It all happens like this: In high-velocity organizations, problems are swarmed at the time and place where they occur and by the people who are affected. A benefit to swarming a problem immediately is that it can be contained before it can affect someone else’s work. And the longer the problem remains unresolved, the more difficult and more expensive it will be to solve. In
The High-Velocity Edge
Steven J. Spear
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