Short-minded quarterly earnings expectations cost us exponentially in long-term productivity gains + innovation. https://twitter.com/Knightfall21/status/1043319584638623746 …
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Replying to @JordanTSack
@timoreilly has a great section on this problem in his book WTF. I particularly liked this excerpt. tl;dr 1981 Jack Welch:#shareholderprofitsmatter#trimthefat 2009 Jack Welch: Actually n/m that was a bad idea (walks away with nearly a billion dollars)pic.twitter.com/mgCcOMfBMT
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Replying to @dataisbeautifu1 @timoreilly
That’s a fascinating excerpt. Wild to think that majority of people have no idea about the “behind the scenes”.
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Replying to @JordanTSack @timoreilly
I would argue that even the CEOs would be fooling themselves if they thought they knew everything that was going on behind the scenes. There's too much to know, unless one of them has the best possible filter for the noise. Maybe the coming AI overlords? (chuckles nervously)
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That's why I included the part about the CEO breaking down in tears unable to inject social value without being punished by the market. We're all just trying to do our best to leverage our position in this emergent incentive structure.
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Fascinating insight. I’ve felt we’ve been in an emergent stage of capitalism for some time now. I feel the same about social media, will be writing more about this. ie social justice, metoo, trial by public opinion. Affecting geopolitics now.
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