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Culture, Not Leverage, Made Wall Street Riskier

Harvard Business Review

Before the IPO in 1999, partners of Goldman Sachs owned equity in a private partnership. The result was an intense focus on risk, including risks related to ethical standards. But leverage limits may have unintended consequences for capital markets’ competitiveness, innovation, growth, and efficiency.

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Uber Is Finally Realizing HR Isn’t Just for Recruiting

Harvard Business Review

As Pete Ramstad and I note in Beyond HR , leaders often have far better developed frameworks for the value proposition of the finance function than for HR. Uber apparently lacked oversight about sexual harassment behavior; it seems far less likely that such oversight would be lacking when it comes to finance.