Turns out we figured out how to build and run great companies by the 80s, and then we just forgot about it.pic.twitter.com/4Qhk9L4GzC
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Also, I think we stopped paying attention to companies that were built and run well. Perhaps they were solving "boring" problems or executing slowly/ methodically. Hopefully we start referring to these books and other great ones again.
Current hypothesis is that we perfected the old industries at the dawn of the new ones - insane growth rate in greenfield industries bypassed the need to apply those learnings. Product market fit heals all wounds until markets are mature and saturated, then everything matters.
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Over the next few years, the strategies outlined here will become the playbooks for any tech business with <60% gross margin that wants to survive/thrive.
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Part of the story was simply demographic. The aging of the baby boomers provided the largest block of capital in history.
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As people age, they earn more and save more: – 45-65, people are at their maximum earning capacity – the kids are out of the house – the house is payed down – etc
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