Thinks 497

FT on Fedex’s founder: “[Fred] Smith, 77, was a disrupter of his day, creating a global logistics behemoth from scratch. His vision, paired with operational lessons gleaned from his distinguished military experience in Vietnam and key contacts he made at Yale with future political leaders, combined to create a company with a $60bn market capitalisation and 600,000 employees across the world. Such a legacy deserves celebration. His 50-year reign is an outlier as tenures grow ever shorter: pre-pandemic data collected by PwC showed CEOs of the world’s largest 2,500 public companies serving a 5-year median term.

Alchian and Allen: “An entrepreneur is more than an investor. Entrepreneurs think of new ideas and make investments in research with trial and error in the hope of finding profitable products or methods of production and distribution. Entrepreneurs, though trying to augment their personal wealth, have improved the well-being of the populace, and not merely by competing in prices of goods. They have invested in attempts to discover better goods and methods of production and distribution.” [via CafeHayek]

The Economist on influencer marketing: “Influencers are becoming brand ambassadors—even for the poshest of brands…For consumers, influencers are at once a walking advert and a trusted friend. For intermediaries that sit between them and brands, they are a hot commodity. For the brands’ corporate owners, they are becoming a conduit to millennial and Gen-Z consumers, who will be responsible for 70% of the $350bn or so in global spending on bling by 2025, according to Bain, a consultancy.”

Published by

Rajesh Jain

An Entrepreneur based in Mumbai, India.