I am always fascinated when I see the latest Apple products. Apple has managed to achieve what I never achieved: using the power of their products to persuade people to queue to buy them. For me, I had to queue to receive food at the end of World War II. That’s quite a change.
In the 1950’s photography could rightly be a provocative act. Being photographed was an event not a default setting.
If success is a catalyst for failure because it leads to the “undisciplined pursuit of more,” then one simple antidote is the disciplined pursuit of less. Not just haphazardly saying no, but purposefully, deliberately, and strategically eliminating the nonessentials.
When it comes to startups, a lot is made of startup’s founders, the market opportunities, its advisers and the team. Of course, there is chest thumping around investors and dollars raised. Yes, those are important issues, but let’s not forget that timing is everything.
The problem is that the currency union is only as strong as its weakest link. Lopping off the weakest part of the Eurozone is not akin to removing a cancerous lesion from an otherwise healthy body, but more like the puncturing of an important blood vessel, which could well destroy the patient.
The potential cost is huge; the short-term benefits are minuscule. Let’s give HFT the funeral it deserves.
Mr. El-Erian counters that Pimco’s culture rewards people who challenge conventional wisdom.