Matthew Giampetroni

For the bullshitter, however, all these bets are off: he is neither on the side of the true nor on the side of the false. His eye is not on the facts at all, as the eyes of the honest man and of the liar are, except insofar as they may be pertinent to his interest in getting away with what he says. He does not care whether the things he says

Execution at each core inflection point of a business enables continual narrative growth, and pseudosecret belief vs. erosion and doubt because in the end, narratives and pseudosecrets only accrue value to their relevant companies if they eventually become truths.

as the bubble grows, it becomes an increasingly pure bet on a revolution

You can’t charge a premium price for giving people what they expect, and you won’t ever have break-out products that way—the kinds of products that people line up around the block for.

In an ideal world, corporate executives would allocate capital to maximize long-term value per share. But, for reasons that are mostly understandable, there’s a lot of evidence that they fall short of this objective