The public company is one of capitalism’s greatest. Private-equity funds are another way of fixing misfiring firms. But activists have advantages over Wall Street’s buy-out barbarians. Instead of loading up on debt to finance the takeover of entire firms, they get the work done with a stake of, typically, just 5% or so. That means activists are good value because they use less debt, pay no takeover premium and extract far lower absolute fees (The Economist).
I cannot imagine right now to live without this pressure. In some moments, it is a bad attitude because in moments like this, it can be too much. But it is part of what makes Bayern Munich what it is. That drive does not only involve winning on the field. There is a German saying, “Wer rastet, der rostet,” or “he who rests, rusts,” and the club’s front office has long embraced the notion. Motion is constant (The New York Times).
This is a platform for truth and it’s a platform for trust. The implications are staggering, not just for the financial-services industry but also right across virtually every aspect of society. Most blockchains are what you call permission-less systems. We can do transactions and satisfy each other’s economic needs without knowing who the other party is and independent from central authorities (McKinsey).
For one thing, she must be willing to give up her plush office and lucrative salary for a computer station at a long table and compensation in the form of prayers, otherwise known as stock options. Lawyers at startups need to recognize that a workable answer today is often preferable to the perfect answer tomorrow; hand-wringers need not apply. But risk tolerance must be accompanied by a stiff spine in situations where the company’s momentum (and the CEO’s vision) hurtles on a collision course with the law (HBR).
Stay calm. You might feel your heart racing or your face turning red, but do whatever you can to remain neutral in both your words and actions. When your body language communicates reluctance or anxiety, it undercuts the message. It sends a mixed message, and your counterpart gets to choose what to read. Deep breaths can help, as can speaking more slowly and deliberately (HBR).