Cake
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    • Each additional year I work in the Silicon Valley, I have come to believe we are blaming the entrepreneurs for their growth-at-all-costs mantra, but I think it's the investors.

      When Facebook's growth slowed, the investors forced Zuckerberg to sell it to Yahoo for $1 billion. It wasn't until Yahoo balked at the deal and Zuck was able to show his investors that he had a mechanism to re-ignite growth that they decided not to sell.

      It wasn't long ago books had titles like Built to Last. The respected companies grew at 20-30% a year, were called blue chip, were admired for building value, for their treatment of workers, and were consistently profitable.

      Now the titles of books are like Blitzscaling, argue that it's the investor power law that rules (only the companies that return 100x matter), and you should risk it all to become a monopoly. The highly valued ones are like Uber that blitzscale and are fraught with problems.