Alphabet and Things That Don’t Scale

Plus! The City Cycle, Consultants, Recruiting Around Universities, 60/40

Welcome to day two of the “Which FANMG Dies How?” series. The premise: if you look at the top companies by market cap in any given period, at least a few of them materially underperformed the market over the next ten years, sometimes losing most of their value. It would be odd if 2020 were the first exception. For perspective, ten years ago Big Oil…

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