(Charlotte, NC – May 15, 2018)
Private equity dry powder hit another record high last month. This rising demand is a tailwind for the public market. It also suggests that (on average) private equity returns will be mediocre at best for funds that are now deploying capital (due to rising competition and lofty valuations).
What We’re Reading
Below are links to select materials and articles that our team found interesting (no partnerships expressed or implied).
(Harvard Business Review) More time doesn’t necessarily translate into better quality work. In fact, spending more time at work and on specific tasks can actually hurt our performance, reducing the quality of our work.
(Inc.) Narrative memos have replaced PowerPoint presentations at Amazon. Here are 3 reasons why.
(WSJ) Every big bank has changed since the financial crisis, but none as dramatically as Morgan Stanley under James Gorman. The CEO, who took the top job in 2010, caused grumbling after defending a move to slash bonuses in 2012 after another bad year, when he said if employees are really unhappy, they can “just leave.” But six years later, Gorman’s take-it-or-leave-it discipline has transformed Wall Street’s problem child into one of its steadiest performers.
Why Silicon Valley Can’t Fix Itself
(The Guardian) Big Tech is sorry. After decades of rarely apologizing for anything, Silicon Valley suddenly seems to be apologizing for everything. They are sorry about the trolls. They are sorry about the bots. They are sorry about the fake news and the Russians, and the cartoons that are terrifying your kids on YouTube. But they are especially sorry about our brains.
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