Businesses Fail When They Over-invest

In A World Of Commoditized Knowledge, The Returns Go To The Companies Who Can Produce Non-standard Knowledge.

Most Companies Don't Have The Luxury Of Focusing Exclusively On Innovation. They Have To Innovate While Stamping Out Zillions Of Widgets Or Processing Billions Of Transactions.

I Live A Half Mile From The San Andreas Fault - A Fact That Bubbles Up Into My Consciousness Every Time Some Other Part Of The World Experiences An Earthquake. I Sometimes Wonder Whether This Subterranean Sense Of Impending Disaster Is At Least Partly Responsible For Silicon Valley's Feverish, Get-it-done-yesterday Work Norms.

I'm A Capitalist By Conviction And Profession. I Believe The Best Economic System Is One That Rewards Entrepreneurship And Risk-taking, Maximizes Customer Choice, Uses Markets To Allocate Scarce Resources And Minimizes The Regulatory Burden On Business.

Strategy Is, Above All Else, The Search For Above Average Returns.