The contrarian conglomerate king who pioneered the use of share buybacks.
The rest of this article is for members only.
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.
The contrarian conglomerate king who pioneered the use of share buybacks.
The rest of this article is for members only.