Writing Worth Reading
Writing Worth Reading
"Cook is maintaining, by words and actions, most of Apple's unique corporate culture. But shifts of behavior and tone are absolutely apparent; some of them affect the core of Apple's critical product-development process"
A rant, yes, but enjoyable. "Romney wants us to believe that critics of private equity are against capitalism. They’re not. They’re against a predatory system created and perpetuated by Wall Street solely to pump its own profits"
"Although American critics of private equity have valid points, I think they should look to Japan before they denounce the role that Bain Capital and company have played in our economic and social development"
Against Facebook. Provocative from the off: "Facebook is not only on course to go bust, but will take the rest of the ad-supported Web with it." It's a marketing business, run by geeks. It's not the next Google, it's the next AOL
Inside the world of computer-driven hedge funds. Many billions of dollars move around markets in automated dealing based on trend analysis. Funds had performed well. But growing competition is now driving search for new algorithms
Turnaround at Burns Harbor shows American steel can be profitable with enough automation. Humans who used to pour the steel now watch screens and change lightbulbs. Eventually, one man with an iPad may suffice to run the place
Facebook, Google and others have latched onto wheeze of having two classes of share, so they can sell ownership stakes while keeping voting rights for themselves. Why? Because they can. And it's part of a significant shift in power
"Everything I read about maximising your web presence and impact told me that SMEs must integrate and embrace social media, especially Facebook." So owner of packaging business tries out some paid ads. It doesn't go well
Tick-tock on the London Whale fiasco. Jamie Dimon personally authorised the trading strategy that may end up costing JP Morgan $5bn. But he didn't follow closely its execution. Until he noticed the bank was losing $100m a day
Public companies "filled the world with cars and televisions and computers. They brought transparency to business life and opportunities to small investors." But now many companies choose to stay private. Does it matter?
JPMorgan Chase is too big to fail; it operates with the implicit backing of the US government. So its recent trading losses should be investigated independently. In the same way as air crashes and near misses are investigated
Cassidy casts his eye over impending Facebook IPO: "It’s the fulfillment of the dreams of the nineties—and a reminder of their potentially fatal attraction." Has a website that expands at astronomic pace just got to be worth money?
"Give us a world where half our institutions are run by women"
Barney Frank, on JP Morgan's $2bn trading loss
"JP Morgan Chase, entirely without any help from the government has lost, in this one set of transactions, five times the amount they claim financial regulation is costing them"
