What we’re reading (11/19)
“The Myth Of The Tech God Is Crumbling” (Wall Street Journal). “Tech is full of smart people who build, run and invest in successful companies that have produced a tremendous amount of innovation. But the industry’s recent spate of failures and reversals has made one thing clear: Many of its leaders aren’t as smart as they thought they were.”
“Why Everything In Tech Seems To Be Collapsing At Once” (The Atlantic). “Companies going big and spending lots of money on important and difficult problems with uncertain solutions is cool, in a way. But at the moment, a lot of these bets look half-baked, catastrophically expensive, or outright fraudulent.”
“Here’s Why Home Depot And Lowe’s Are Booming In A Housing Market Bust” (CNBC). “Home Depot financial chief Richard McPhail pointed to an “improve in place” mentality among current homeowners, who might have wanted to sell but changed their minds because they could no longer command top dollar.”
“The Complicated Business Legacy Of GE’s Jack Welch” (Fast Company). “Although some recent accounts, including New York Times columnist David Gelles’s new book, The Man Who Broke Capitalism, have called into question whether Welch’s heroic reputation was deserved and heaped criticism on the legacy he left behind, Cohan explores what made Welch such a celebrated business figure of his time, dubbed “manager of the century.” He paints a portrait of a leader relentlessly focused on the performance and efficiency of his business who, despite being known as a harsh boss who slashed GE’s workforce by more than 100,000, was able to cultivate talent within the company and rally his people to deliver their best thinking and effort year after year.”
“‘It’s Like Living In An Igloo.’ People Are Turning Off Their Heat As Prices Surge” (CNN Business). “As the first frigid weather of autumn chills the Northeast, many people are faced with a tough decision: deal with the surging costs of heating their homes or live without it. Home heating prices are skyrocketing yet again this winter, up 18% nationwide on top of last year’s 17% spike, according to the National Energy Assistance Directors Association (NEADA).”
