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Here we are experiencing the trials endemic to any journey. Perhaps we’ve failed, perhaps our goal turned out to be harder to achieve than anticipated. No one is permanently successful, and not everyone finds success on the first attempt. We all deal with setbacks along the way. Ego not only leaves us unprepared for these circumstances, it often contributed to their occurrence in the first place. The way through, the way to rise again, requires a reorientation and increased self-awareness. We don’t need pity—our own or anyone else’s—we need purpose, poise, and patience.
Ego Is the Enemy
Ryan Holiday
Most companies define "record" earnings as a new high in earnings per share. Since businesses customarily add from year to year to their equity base, we find nothing particularly noteworthy in a management performance combining, say, a 10% increase in equity capital and a 5% increase in earnings per share. After all, even a totally dormant savings account will produce steadily rising interest earnings each year because of compounding.
Berkshire Hathaway Letters to Shareholders, 2016
Warren Buffett
Moreover, to double-down on Seufert’s point, the impact goes far beyond Meta: every company that sells on Meta was impacted, which in turn means that cloud providers like AWS were as well. Jassy noted that one of the headwinds for AWS was “things tied to advertising, as there’s lower advertising spend, there’s less analytics and compute on advertising spend as well.” As Seufert notes, though, most advertising was fine: all of the pain is in industries impacted by ATT.
The Four Horsemen of the Tech Recession
stratechery.com
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