Ep. 1134: Derek Lidow Interview with Michael Covel on Trend Following Radio
Michael Covel's Trend Following
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The Transition Between a Startup and a Big Business
When Apple was on its knees and they invited Steve Jobs back, they let him reconfigure the board with people that would support him no matter what. And it was like a startup again. He could do anything he wanted. The transition between a startup and an entrepreneurial firm and a big business is when the person that's running the place, the CEO, has full authority, unquestioned. It can be their playpen. Then that place is going to be very entrepreneurial. When that person leaves and a professional manager comes in, then the entrepreneurial ethos leaves. Then it becomes risk adverse. This single minded person could be too like you'll impact. That might not do things as well as
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