During his tenure, Jack Welch built GE into an earnings estimates-beating-machine. There's just one problem with that: it leads to extreme short-termism, and ultimately the misallocation of capital. Contrast this with Jeff Bezos' approach of...
During his tenure, Jack Welch built GE into an earnings estimates-beating-machine. There’s just one problem with that: it leads to extreme short-termism, and ultimately the misallocation of capital. Contrast this with Jeff Bezos’ approach of maximizing long-term free cash flow, disregarding the current quarter. Which business do you want to invest in?
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