Broken

I find myself moving more and more towards the perspective that aspects of capitalism are broken. Pushing stock prices up no matter what the cost, the huge gap in compensation between the highest and lowest paid workers in an organization, the slanting of financial laws towards the rich, and the increasing fraction of our economy that is based on businesses that make nothing (Financial, Legal, etc.).

Three books that are worth a read about how this happens on a day-to-day basis in corporations and how people are quickly or slowly corrupted, or how their decisions slip down a very dark path.

Bad Blood: Secrets and Lies in a Silicon Valley Startup by Carreyrou is the latest about the fall of Theranos and Elizabeth Holmes which is in the current news. I saw her speak once at a conference to a small group of IT CIOs. She was being interviewed by Meg Whitman who was running HP at the time. I’m not quite done with this book, but I can already highly recommend it. It is absolutely captivating in how morally bankrupt some people can be.

Conspiracy: Peter Thiel, Hulk Hogan, Gawker, and the Anatomy of Intrigue by Holiday which is the story of Gawker and its business model and the work done to take it down.

And no such list would be complete without The Smartest Guys in the Room by McLean and Elkind about Enron and how that model worked. I lived through part of that story where the company I worked and friends in California lived through rolling power outages one summer that Enron employees were causing to happen.

I don’t know the answers (or probably some of the right questions) here. It just seems that aspects of our model and way of doing things are breaking down. Broken.

pablo (13)

2 thoughts on “Broken”

  1. This reminds me of the story on 60 Minutes last Sunday from the DEA whistleblower, about how the drug industry is hiring away people from the DEA. Then using this insider knowledge, the drug companies got a law passed through Congress, cutting back the enforcement powers of the DEA, helping to fuel the opioid epidemic. It passed unanimously in the House and the Senate without a voice vote. You should watch it online if you didn’t see it. It’s really unbelievable. And disgusting.

    Like

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