How entities — companies, firms, protocols — design effective incentives to accomplish effective goals.
What good and bad capital allocation looks like.
The central problem of business is that you find something lucrative, and then competitors copy you and drive profits down to the opportunity cost of capital. This is what that looks like.
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How Will Guidara of Eleven Madison Park — 2017's best restaurant in the world — learnt the business parts of the restaurant business.
How A. W. Jones improvised his way to an investment style and structure that has persisted till today.
The story of one of the most remarkable consumer technology companies, founded in the ruins of post-war, bombed out Japan.
The big history of a small device, from a remarkable Japanese company, that happened to have changed the modern world.
The contrarian conglomerate king who pioneered the use of share buybacks.
The unique way that storied law firm Munger, Tolles, Olson (MTO) allocates firm proceeds to its partners.
A remarkable — if controversial — company in a weird industry. How TransDigm exploits the aerospace aftermarket to generate excessive returns for its shareholders.
How Danaher combines Lean manufacturing with masterful capital allocation to build a remarkable manufacturing company in the United States.
The erosion, and then collapse of Michael Steinhardt’s early advantaged position in the hedge fund world.
Katharine Graham’s remarkable journey from widow to master capital allocator.
