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AF

Something that's been on my mind a lot lately. Google is especially vulnerable not just because they're growing, but because they went public, and now have to answer to ADD shareholders. And you correctly point out, even good people with good intentions can slide into the undertow of a Wall Street construct.

Harold Evans, a British journalist who wrote "They Made America" says the obsession with quarterly earnings on Wall Street is killing innovation right now. No long term vision, no patience, no delayed gratification, no RISK.

Have been meaning to ask an economist phd friend and about ebbs and flows with this quarterly earnings obsession cycle. I imagine it was last beat back with Teddy Roosevelt's trust-busting, hope it was more recent than that.

Bruce Hughes

Sylvia, I think you are right concerning the inherent problems of bigness. Clayton Christensen writes about the difference between "smart money," which is patient for growth and wants real profits--and "dumb money," which is impatient for growth. Going public means accepting dumb money, and it will force managers to do dumb things--or forfeit their jobs. Hence the parachutes most public company managers negotiate for themselves. They would be foolish--or unusually idealistic--to do otherwise.

anonymous

Google hasn't abused anything. This post is rediculous. You are just agreeing with Dave Winer to get your fifteen minutes of fame ,but you dont realize that Dave is nothing ,but a winer.

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