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Cake day: June 9th, 2023

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  • The shareholders can go and buy a diversified portfolio on their own, by investing in many companies, so they can derisk their portfolio without conglomeration.

    If they already own shares of the conglomerating company, its returns will be lower (they don’t care that it’s less risky; they’ve diversified already). Similarly, the returns of the company that is now becoming part of the conglomeration will likely be reduced, which negatively affects shareholders of that company.

    The benefit is really only for the people whose prospects are deeply tied to this company, and only this company… its management employees, who are compensated by the company (often in the form of stock that they can’t sell till they leave, or that vests over a long time frame).








  • So… this is pretty stupid, a raise in pay certainly might help.

    However, from the perspective of a career spent managing teams, often organizations with hundreds of employees, if you think your people are all solely motivated by compensation, you’re going to do a very poor job as a manager.

    Everyone wants more money, but that’s not all they want – and there are plenty of people who quit high paying jobs that treated them poorly or gave them no opportunity to grow.

    Think about appropriate compensation as necessary, but often not sufficient – and think about the best boss you ever had. They probably did more than just pay you fairly, that’s the bare minimum.







  • Fun fact… From the Roman era through the early modern era, the “four humors” theory of medicine led to an extraordinary focus on the quality, consistency and uh, frequency of feces in assessing people’s medical health – at least the people wealthy enough to have a doctor obsess over their poop.

    Now, here’s where it gets funny. Doctors were not generally nobility, or highly trusted … What if they deliberately treated the king poorly? Best to have an impartial observer, someone you really trusted, who could describe your poop to multiple doctors (so as to get a second opinion) and be trusted not to discuss your poop willy nilly (can’t have spurious rumors about the king’s health).

    Hence the introduction of a new title, the Groom of the Stool, whose job it was to… Well, to look at the king’s poop, and be present while the aforementioned poop was pooped to verify the uh, chain of custody.

    For hundreds of years, it was one of the most powerful positions at court, and formed the seed of what would later become the “privy counsel”. The Victorians gradually phased it out (because they were less enthusiastic about poop than their predecessors).

    Anyway I guess this picture made me think of three people sitting around watching each other poop, so … Now you know about that, I guess