Sublime
An inspiration engine for ideas
Michael Howell • Buffett’ ed
Gary had owned a piece of Alameda Research, but his stake in FTX was far more valuable. Nishad owned a big chunk of FTX and none of Alameda Research. Ditto Caroline, who ran Alameda Research but owned shares only in FTX. None of these people had any interest in moving money out of FTX into Alameda Research in a way that put FTX in jeopardy. Just
... See moreMichael Lewis • Going Infinite: The Rise and Fall of a New Tycoon
The promise of the Internet spawned the largest creation and largest destruction of stock market wealth of all time.
Burton G. Malkiel • A Random Walk Down Wall Street: The Best Investment Guide That Money Can Buy (Thirteenth)
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Michael Lewis • Going Infinite: The Rise and Fall of a New Tycoon
focusing the collective efforts of the firm’s principals around carefully chosen areas of experience would…
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David H. Maister • Managing The Professional Service Firm
A few months into his new job, George had seen one hundred of FTX’s three hundred something employees. He enjoyed maybe the single best view of its corporate architecture, with a clarity not available to its investors, its customers, its employees, and, possibly, the person who had created it. “Sam didn’t like people to have job descriptions,” said
... See moreMichael Lewis • Going Infinite: The Rise and Fall of a New Tycoon
Third, we are fearful creatures and go to great lengths to preserve a sense of certainty, even when we know it to be false.
W. Brian Arthur • Complexity Economics: Proceedings of the Santa Fe Institute's 2019 Fall Symposium
They promote internal networking.