Why Do So Many Strategies Fail?: from HBR. “All too often those failures occur because the CEOs’ approach to strategy isn’t holistic. At many innovative new businesses, CEOs excel at identifying ways to generate value by addressing unmet customer needs—yet don’t adequately analyze what it would take to capture a sufficient portion of that value. Or they get seduced by the initial success of their new business models, grow too fast, broaden their firms’ scope too far, and neglect to invest in capabilities needed to sustain a long-term competitive advantage.”
The next act for messenger RNA could be bigger than covid vaccines: from Technology Review. “New messenger RNA vaccines to fight the coronavirus are based on a technology that could transform medicine. Next up: sickle cell and HIV.”
Henry Hazlitt: “And unlike a government agency, the private owner is obliged by self-preservation to try to avoid losses, which means that he is forced to run his railroad economically and efficiently. And also unlike a government agency, the private capitalist is nearly always obliged to face competition – which means to make the services he provides or the goods he sells superior or at least equal to those provided by his competitors. Therefore the private capitalist normally serves the public far better than the government could if it took over his property.” [via CafeHayek]
