article thumbnail

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.

article thumbnail

Why WikiLeaks Matters More (And Less) than You Think

Harvard Business Review

And unfortunately, it's also one of the most in need of radical institutional innovation. That's why the traditional understanding of everything from GDP to " jobs " to " profit " to " IPO " is limited. But prosperity is always going to accrue to those who innovate yesterday's rusting, creaking institutions.

GDP 16
article thumbnail

Uber Is Finally Realizing HR Isn’t Just for Recruiting

Harvard Business Review

Research by i4cp suggests that in higher-performing organizations, leaders more often see diversity and inclusion strategically, as supporting organizational culture and innovation. Today Uber is no startup, with 11,000 employees, not including its drivers, and a 2017 market value at IPO that is estimated as $28–$70 billion.