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Welch used GE Capital to manage earnings. Whenever the company was short revenue or profit or vice versa, Welch could instruct GE Capital to buy or sell assets. The result was GE’s storied ability to always hit its forecasts—and why the stock was so highly valued. It wasn’t that the businesses were managed so well that the numbers were predictable; it was that it had an unregulated bank around to make up the difference whenever it wanted.
How Technology Giants Die
Evan Armstrong
By contrast, the contemporary New Yorker was churned out by “punctuation castratos who have gone to bed with commas for a quarter of a century.”
Project MUSE - What We Talk About; When We Talk About: The New Yorker
muse-jhu-edu.alumniproxy.library.upenn.edu
Re-typing and transcribing doesn’t matter. Duplication of data doesn’t matter. Busywork doesn’t matter. Those are all temporary, transient, minor inconveniences, and they only become necessary once you’ve already had the satisfaction of making real progress. Conversely, friction does matter. Stress does matter. Annoyance while working does matter. Constant papercuts of suboptimality do matter, because they will lengthen every creative session and they’ll deplete the resources you need in order to think well.
Use the Right Tools — Matt Gemmell
Matt Gemmell
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