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Reproduction speed has crucial implications for the overall economic growth rate. If your factory costs $100 million to build and can produce $3 million worth of widgets in a year, it will take you 33 years to regain the value of the factory. That level of productivity, 3 percent per year, has been an average for the Industrial Revolution over the past couple of centuries. (Note that if the widgets are not simply consumed, but reinvested, say, by improving the capabilities of the factory, the total value will double in 25 years instead of 33, due to the magic of compound interest.)
Where Is My Flying Car?
J. Storrs Hall
Political assholes thrive in large organizations where they can pull the kind of Machiavellian BS that makes you sound crazy and paranoid when you’re describing it. They find people who aren’t exceptional at their jobs and protect them in exchange for their allegiance. They get dirt on their peers—who’s having an affair with his admin? Can we get HR to cover it up?—then those people are indebted for life.
As the Apple example demonstrates, buybacks can improve long-term returns dramatically. If Benioff visited Ammachi again today, she would probably tell him he can do both: pursue external M&A and buy back his own stock.
Salesforce’s Best Acquisition Yet: Itself
memosbyhh.com
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