The rats that can swim are the first ones to abandon a sinking ship.
He was first among enduring management thinkers, and the last of an in-between generation.
Today’s trouble is just another version of “options as currency printing press”, which is merely a sophisticated way of looting the neighborhood.
The bottom line is managers have to learn to let go and trust that market dynamics - and price discovery in particular - work to their advantage.
“How big can we get before we get bad?” - Jay Chiat