Harvard Business Review

JUNE 9, 2014

It is incredibly hard to hold an IPO. But analysts are judging EBITDA, P/E ratios, quarterly growth, and cashflows – which don’t always correlate with long-term value creation. And, too often, our obsession with these short-term metrics has the opposite effect. There has to be a better way. Entrepreneurship Finance'

Entrepreneur 8

Entrepreneur Venture Capitalist Mezzanine Short-term 8

Harvard Business Review

JULY 13, 2011

billion to Google just a few short months ago, in November of 2010. The smart money went along, with Groupon valued at $15-20 billion, according to some observers anticipating rich pickings in the IPO-to-come. I'm afraid that I still don't see much long-term robustness in Groupon's model. But not so fast. billion slip away.

Business Model 15

Business Model Discount IPO Customer Loyalty 15

Harvard Business Review

MAY 16, 2016

Strategic alignment, for us, means that all elements of a business — including the market strategy and the way the company itself is organized — are arranged in such a way as to best support the fulfillment of its long-term purpose. But corporate leaders today seem to agree that strategic alignment is high on the list.

Banking 14

Banking Strategy Film Operations 14

Harvard Business Review

OCTOBER 16, 2014

Icahn later reduced his buyback request to $50 billion, and in April 2014 Apple’s board approved a $30 billion program to be carried out by repurchasing its shares on the open market — either by just buying shares outright or doing it indirectly via accelerated share repurchases. Apple is a company with phenomenal products and profits.

Safe Harbor 9

Safe Harbor Hedge EPS Price 9

Harvard Business Review

SEPTEMBER 19, 2014

And while I’m certainly not the person to argue that short- or even medium-term shareholder returns are a perfect measure of corporate performance, I do think that what your stock does over 28 years has some meaning. On top of that, the company has a nice dividend payout, for a tech stock, of 1.2%. One size does not fit all.

Company 8

Company Chief Technology Officer IPO CEO 8

Harvard Business Review

DECEMBER 3, 2018

Some of the largest companies of recent times by market capitalization, such as Facebook, Alphabet, and Alibaba, carry dual class-shares. Aggressive-growth and family-controlled dual-class companies display higher long-term shareholder returns. So do some older, family-controlled firms, such as Ford Motor Co. and The New York Times Co.

Class 10

Class Maturity IPO Short-term 10

Harvard Business Review

JUNE 1, 2015

Since the last financial crisis, many new regulations have been implemented to protect shareholders, increasing the pressure on management to meet earnings expectations by prioritizing short-term over long-term. For many consumer tech companies, this post-IPO pressure on financial returns is too high.

IPO 8

IPO Company Maturity Short-term 8

Harvard Business Review

DECEMBER 19, 2017

went public in June, then saw its stock price fall 70%, making it the worst performing IPO of a major company so far in 2017. They argue that the market has become saturated because of the barriers to entry are low (do we really need 53 subscription box companies offering sex products?) that aggregate sales in the U.S.

IPO 8

IPO How To Metrics Bottom-up 8

Harvard Business Review

JULY 12, 2017

Yet in this short period, digital technologies have upended our world. Digital players wield outsize market power. With products that rely on network effects, these players enjoy economies of scale and dominant market share. Digital markets are uneven. Digital technologies are poised to change the future of work. .”

Innovation 8

Innovation Policies Technology Politics 8

Harvard Business Review

SEPTEMBER 4, 2015

Innovation is widely regarded as important to long-term business performance. In the pharmaceutical industry, short patent lives for prescription drugs mean companies must continually look for new drugs to fill their pipelines. For example, Qualcomm’s CDMA mobile technology was a breakthrough that led to its IPO in 1991.

CEO 8

CEO Innovation Pharmaceuticals Merchandising 8

Harvard Business Review

MARCH 15, 2012

The Weinberg trademarks, which became the Goldman trademarks, were (1) hard-nosed prudence, (2) an extreme emphasis on the partnership , with partners generally able to make serious money only after decades at the firm, and (3) the long-term cultivation of relationships with business executives and politicians. Watch out, Google!)

Hedge 13

Hedge Long-term Banking Short-term 13

Harvard Business Review

SEPTEMBER 10, 2015

Only a handful of so-called unicorns — companies that have achieved a valuation of over $1 billion in the last 10 years — come from Israel, and only one Israeli firm, Teva, ranks in the world’s 500 largest companies by market capitalization. In 2014, for example, 18 IPOs raised a record-breaking $9.8 We think so.

Venture Capitalist 8

Venture Capitalist Entrepreneur Marketing IPO 8

Harvard Business Review

MAY 12, 2014

If we’re to prevent the enthusiasm for entrepreneurial ecosystems from also fizzling out, we need to get a better grip on what the term really means. In emerging markets, NGOs such as Endeavor and Wamda have been key catalysts. You know that you have a strong entrepreneurship ecosystem when there are more and more startups.

Entrepreneur 9

Entrepreneur Incubator Bureaucracy Banking 9

Harvard Business Review

NOVEMBER 6, 2015

You develop minimally viable products, keep testing different market and product hypotheses, and pivot based on the market feedback you get. You expect to fail repeatedly and hope to eventually get to a product-market fit. You get your technology into the market and see who wants it. It enables the product to function.

Venture Capitalist 8

Venture Capitalist Entrepreneur IPO Wireless 8

Harvard Business Review

JULY 20, 2017

DNA genetic testing company 23andMe fell behind on its communications with the FDA, resulting in a temporary ban on marketing the company’s personal genetic screening services to the public. A123 Systems promised to be a clean tech success with a soaring IPO in 2009. and shifts its local focus to engineering and testing.

Innovation 13

Innovation Productivity Products Venture Capitalist 13