“We are not profitable,” he said. “We could be. It would be the easiest thing in the world to be profitable. It would also be the dumbest. We are taking what might be profits and reinvesting them in the future of the business. It would literally be the stupidest decision any management team could make to make Amazon.com profitable right now.” (1997)
Perhaps the most notable local on-line activity recently has been in the newspaper business, where an aggressive upstart, Zip2, has managed to forge partnerships with 160 papers around the country. Twenty of those deals have led to full-scale city guides, said Elon Musk, chairman and founder of Zip2, which is based in Mountain View, Calif. The remaining deals have produced local guides within newspapers’ Web sites. (1998)
People talk a lot today about fixing things, but it is not the system that needs fixing. The problem is with so-called “conventional wisdom.” Those who believe in carrying on with business as usual might as well suggest powering cars with a troika of horses. (2009)
If your idea of life and success is to go to school, get good grades, get a job, buy a car, buy a house, get married, retire, and complete that sort of loop, you’ll probably be fine. But you’re not gonna change the world by being boring, bored, or both with that. *Youth Entrepreneurship Act, Republic Act No. 10679. Image: Jake Bowerman, North Texas Daily
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).
Private company valuation is based on the price paid per share at the latest preferred stock round multiplied by the company’s fully diluted shares. Market Capitalization or “Market Cap” is the value that public companies are based on. Market cap is calculated by taking a company’s outstanding common shares multiplied by its current stock price (Medium).
I think we get caught up too much in intense competition. The great businesses are not focused on disrupting some other business, they are focused on doing something that’s valuable on its own. In the same way that a successful career is not focused on disrupting someone else’s career, but on doing something valuable on your own (Peter Thiel on The Guardian).
Venture capitalists such as Peter Thiel want us to believe that this monopoly status is a feature, not a bug: if these companies weren’t monopolies, they would never have so much cash to spend on innovation (The Guardian).