"The Riff" with Byrne Hobart and Erik Torenberg

E31: Google API Documentation Leak, Apple's Plans for Siri, and Analyzing Texas Instruments

7 snips
Jun 6, 2024
Elon Musk and Yann Lecun's Tweets, Google's API documentation leak, Apple's plans for Siri, challenges of technocracy, shareholder activism in decision-making, white-collar fraud, market manipulation, Amazon's margin strategy, ad revenue capture, language learning with Babbel, and introduction to Beehive for successful newsletters
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INSIGHT

Why Institutions Decay Over Time

  • Elite institutions tend to select for the wrong traits as they scale, producing worse leaders over time.
  • Conscious efforts can delay institutional decay but cannot fully prevent eventual decline.
INSIGHT

The Tradeoffs Of Shareholder Activism

  • Shareholder activists force change by buying stock and pushing management to alter strategy or leadership.
  • Activism risks homogenizing corporate strategy and discouraging long-term, high-capex bets like building fabs.
ADVICE

Express Views Through Market Positions

  • If you disagree with a company's strategy, express your view via markets: buy competitors or short the company.
  • Activism is optional; you can implement a relative-value trade without trying to change corporate behavior.
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