CHAPTER 10
WHEN VALUE BECOMES LONG TERM
If you’re willing to invest on a seven-year time horizon, you’re now competing against a fraction of those people, because very few companies are willing to do that.
—Jeff Bezos1
The business world is a place full of euphemism. When we talk about innovation, we could be talking about many things, but probably we mean some sort of incremental change. When we talk about disruption, we’re probably talking about a sort of change that is less incremental in nature. But perhaps the most opaque—and most crucial—of all these threadbare buzzwords is the phrase to create value. What is value? What do we mean when we say something is valuable? When we say a person is valuable to us? Are those two things the ...
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