Book picks similar to
Enron: The Smartest Guys in the Room by Frederic P. Miller
business
finance
non-fiction
history
Business Adventures
John Brooks - 1969
What do the $350 million Ford Motor Company disaster known as the Edsel, the fast and incredible rise of Xerox, and the unbelievable scandals at General Electric and Texas Gulf Sulphur have in common? Each is an example of how an iconic company was defined by a particular moment of fame or notoriety. These notable and fascinating accounts are as relevant today to understanding the intricacies of corporate life as they were when the events happened.Stories about Wall Street are infused with drama and adventure and reveal the machinations and volatile nature of the world of finance. John Brooks’s insightful reportage is so full of personality and critical detail that whether he is looking at the astounding market crash of 1962, the collapse of a well-known brokerage firm, or the bold attempt by American bankers to save the British pound, one gets the sense that history really does repeat itself.
American Kingpin: The Epic Hunt for the Criminal Mastermind Behind the Silk Road
Nick Bilton - 2017
In 2011, a twenty-six-year-old libertarian programmer named Ross Ulbricht launched the ultimate free market: the Silk Road, a clandestine Web site hosted on the Dark Web where anyone could trade anything—drugs, hacking software, forged passports, counterfeit cash, poisons—free of the government’s watchful eye. It wasn’t long before the media got wind of the new Web site where anyone—not just teenagers and weed dealers but terrorists and black hat hackers—could buy and sell contraband detection-free. Spurred by a public outcry, the federal government launched an epic two-year manhunt for the site’s elusive proprietor, with no leads, no witnesses, and no clear jurisdiction. All the investigators knew was that whoever was running the site called himself the Dread Pirate Roberts. The Silk Road quickly ballooned into $1.2 billion enterprise, and Ross embraced his new role as kingpin. He enlisted a loyal crew of allies in high and low places, all as addicted to the danger and thrill of running an illegal marketplace as their customers were to the heroin they sold. Through his network he got wind of the target on his back and took drastic steps to protect himself—including ordering a hit on a former employee. As Ross made plans to disappear forever, the Feds raced against the clock to catch a man they weren’t sure even existed, searching for a needle in the haystack of the global Internet.Drawing on exclusive access to key players and two billion digital words and images Ross left behind, Vanity Fair correspondent and New York Times bestselling author Nick Bilton offers a tale filled with twists and turns, lucky breaks and unbelievable close calls. It’s a story of the boy next door’s ambition gone criminal, spurred on by the clash between the new world of libertarian-leaning, anonymous, decentralized Web advocates and the old world of government control, order, and the rule of law. Filled with unforgettable characters and capped by an astonishing climax, American Kingpin might be dismissed as too outrageous for fiction. But it’s all too real.
Only the Paranoid Survive. Lessons from the CEO of INTEL Corporation
Andrew S. Grove - 1988
Under Andrew Grove's leadership, Intel has become the world's largest computer chipmaker, the 5th most admired company in America, and the 7th most profitable company among the Fortune 500. Few CEOs can claim this level of success. Grove attributes much of it to the philosophy and strategy he has learned the hard way as he steered Intel through a series of potential major disasters. There are moments in any business when massive change occurs, when all the rules of business shift fast, furiously and forever. Grove calls such moments strategic inflection points (SIPs), and he has lived through several. They can be set off by almost anything - by mega competition, an arcane change in regulations, or by a seemingly modest change in technology. They are not always easy to spot - but you can't hide from them. Intel's first SIP was when the Japanese started producing better-quality, lower-cost memory chips. It took Grove three years and huge losses to recognize that he had to rethink and reposition the company to become, once again, leader in its field.Grove extrapolates the lessons he has learned from this and other SIPs - for instance the drama of the Pentium flaw, and the SIP brought on by the Internet - to reveal a unique insight into the management of change. He recounts strategies from other companies and examines his own record of success and failure. Only the Paranoid Survive is a classic lesson in leadership skills that every manager in every industry will benefit from. Every manager must assume that something will change - very soon.
Barbarians at the Gate: The Fall of RJR Nabisco
Bryan Burrough - 1989
An enduring masterpiece of investigative journalism by Bryan Burrough and John Helyar, it includes a new afterword by the authors that brings this remarkable story of greed and double-dealings up to date twenty years after the famed deal. The Los Angeles Times calls Barbarians at the Gate, “Superlative.” The Chicago Tribune raves, “It’s hard to imagine a better story...and it’s hard to imagine a better account.” And in an era of spectacular business crashes and federal bailouts, it still stands as a valuable cautionary tale that must be heeded.
The Richest Man in Babylon
George S. Clason - 1926
This is the book that reveals the secret to personal wealth. The Success Secrets of the Ancients—An Assured Road to Happiness and Prosperity Countless readers have been helped by the famous “Babylonian parables,” hailed as the greatest of all inspirational works on the subject of thrift, financial planning, and personal wealth. In language as simple as that found in the Bible, these fascinating and informative stories set you on a sure path to prosperity and its accompanying joys. Acclaimed as a modern-day classic, this celebrated bestseller offers an understanding of—and a solution to—your personal financial problems that will guide you through a lifetime. This is the book that holds the secrets to keeping your money—and making more. The Richest Man in BabylonRead it and recommend it to loved ones—and get on the road to riches.MORE THAN TWO MILLION BOOKS SOLD
How Innovation Works: Serendipity, Energy and the Saving of Time
Matt Ridley - 2020
Forget short-term symptoms like Donald Trump and Brexit, it is innovation itself that explains them and that will itself shape the 21st century for good and ill. Yet innovation remains a mysterious process, poorly understood by policy makers and businessmen, hard to summon into existence to order, yet inevitable and inexorable when it does happen.Matt Ridley argues in this book that we need to change the way we think about innovation, to see it as an incremental, bottom-up, fortuitous process that happens to society as a direct result of the human habit of exchange, rather than an orderly, top-down process developing according to a plan. Innovation is crucially different from invention, because it is the turning of inventions into things of practical and affordable use to people. It speeds up in some sectors and slows down in others. It is always a collective, collaborative phenomenon, not a matter of lonely genius. It is gradual, serendipitous, recombinant, inexorable, contagious, experimental and unpredictable. It happens mainly in just a few parts of the world at any one time. It still cannot be modelled properly by economists, but it can easily be discouraged by politicians. Far from there being too much innovation, we may be on the brink of an innovation famine.Ridley derives these and other lessons, not with abstract argument, but from telling the lively stories of scores of innovations, how they started and why they succeeded or in some cases failed. He goes back millions of years and leaps forward into the near future. Some of the innovation stories he tells are about steam engines, jet engines, search engines, airships, coffee, potatoes, vaping, vaccines, cuisine, antibiotics, mosquito nets, turbines, propellers, fertiliser, zero, computers, dogs, farming, fire, genetic engineering, gene editing, container shipping, railways, cars, safety rules, wheeled suitcases, mobile phones, corrugated iron, powered flight, chlorinated water, toilets, vacuum cleaners, shale gas, the telegraph, radio, social media, block chain, the sharing economy, artificial intelligence, fake bomb detectors, phantom games consoles, fraudulent blood tests, faddish diets, hyperloop tubes, herbicides, copyright and even – a biological innovation -- life itself.
The General Theory of Employment, Interest, and Money
John Maynard Keynes - 1935
In his most important work, The General Theory of Employment, Interest, and Money (1936), Keynes critiqued the laissez-faire policies of his day, particularly the proposition that a normally functioning market economy would bring full employment. Keynes's forward-looking work transformed economics from merely a descriptive and analytic discipline into one that is policy oriented. For Keynes, enlightened government intervention in a nation's economic life was essential to curbing what he saw as the inherent inequalities and instabilities of unregulated capitalism.
Zucked: Waking Up to the Facebook Catastrophe
Roger McNamee - 2019
He had mentored many tech leaders in his illustrious career as an investor, but few things had made him prouder, or been better for his fund's bottom line, than his early service to Mark Zuckerberg. Still a large shareholder in Facebook, he had every good reason to stay on the bright side. Until he simply couldn't. ZUCKED is McNamee's intimate reckoning with the catastrophic failure of the head of one of the world's most powerful companies to face up to the damage he is doing. It's a story that begins with a series of rude awakenings. First there is the author's dawning realization that the platform is being manipulated by some very bad actors. Then there is the even more unsettling realization that Zuckerberg and Sheryl Sandberg are unable or unwilling to share his concerns, polite as they may be to his face."
The Lessons of History
Will Durant - 1968
With the completion of their life's work they look back and ask what history has to say about the nature, the conduct and the prospects of man, seeking in the great lives, the great ideas, the great events of the past for the meaning of man's long journey through war, conquest and creation - and for the great themes that can help us to understand our own era.To the Durants, history is "not merely a warning reminder of man's follies and crimes, but also an encouraging remembrance of generative souls ... a spacious country of the mind wherein a thousand saints, statesman, inventors, scientists, poets, artists, musicians, lovers, and philosophers still live and speak, teach and carve and sing..."Designed to accompany the ten-volume set of "The Story of Civilization, The Lessons of History" is, in its own right, a profound and original work of history and philosophy.
Economics in One Lesson: The Shortest & Surest Way to Understand Basic Economics
Henry Hazlitt - 1946
But it is also much more, having become a fundamental influence on modern “libertarian” economics of the type espoused by Ron Paul and others.Considered among the leading economic thinkers of the “Austrian School,” which includes Carl Menger, Ludwig von Mises, Friedrich (F.A.) Hayek, and others, Henry Hazlitt (1894-1993), was a libertarian philosopher, an economist, and a journalist. He was the founding vice-president of the Foundation for Economic Education and an early editor of The Freeman magazine, an influential libertarian publication. Hazlitt wrote Economics in One Lesson, his seminal work, in 1946. Concise and instructive, it is also deceptively prescient and far-reaching in its efforts to dissemble economic fallacies that are so prevalent they have almost become a new orthodoxy.Many current economic commentators across the political spectrum have credited Hazlitt with foreseeing the collapse of the global economy which occurred more than 50 years after the initial publication of Economics in One Lesson. Hazlitt’s focus on non-governmental solutions, strong — and strongly reasoned — anti-deficit position, and general emphasis on free markets, economic liberty of individuals, and the dangers of government intervention make Economics in One Lesson, every bit as relevant and valuable today as it has been since publication.
Private Empire: ExxonMobil and American Power
Steve Coll - 2012
ExxonMobil’s annual revenues are larger than the economic activity in the great majority of countries. In many of the countries where it conducts business, ExxonMobil’s sway over politics and security is greater than that of the United States embassy. In Washington, ExxonMobil spends more money lobbying Congress and the White House than almost any other corporation. Yet despite its outsized influence, it is a black box.Private Empire pulls back the curtain, tracking the corporation’s recent history and its central role on the world stage, beginning with the Exxon Valdez accident in 1989 and leading to the Deepwater Horizon oil spill in the Gulf of Mexico in 2010. The action spans the globe, moving from Moscow, to impoverished African capitals, Indonesia, and elsewhere in heart-stopping scenes that feature kidnapping cases, civil wars, and high-stakes struggles at the Kremlin. At home, Coll goes inside ExxonMobil’s K Street office and corporation headquarters in Irving, Texas, where top executives in the “God Pod” (as employees call it) oversee an extraordinary corporate culture of discipline and secrecy.The narrative is driven by larger than life characters, including corporate legend Lee “Iron Ass” Raymond, ExxonMobil’s chief executive until 2005. A close friend of Dick Cheney’s, Raymond was both the most successful and effective oil executive of his era and an unabashed skeptic about climate change and government regulation.. This position proved difficult to maintain in the face of new science and political change and Raymond’s successor, current ExxonMobil chief executive Rex Tillerson, broke with Raymond’s programs in an effort to reset ExxonMobil’s public image. The larger cast includes countless world leaders, plutocrats, dictators, guerrillas, and corporate scientists who are part of ExxonMobil’s colossal story.The first hard-hitting examination of ExxonMobil, Private Empire is the masterful result of Coll’s indefatigable reporting. He draws here on more than four hundred interviews; field reporting from the halls of Congress to the oil-laden swamps of the Niger Delta; more than one thousand pages of previously classified U.S. documents obtained under the Freedom of Information Act; heretofore unexamined court records; and many other sources. A penetrating, newsbreaking study, Private Empire is a defining portrait of ExxonMobil and the place of Big Oil in American politics and foreign policy.Winner of the Financial Times and Goldman Sachs Business Book of the Year Award 2012
Capitalism: The Unknown Ideal
Ayn Rand - 1966
This is the view of Ayn Rand, a view so radically opposed to prevailing attitudes that it constitutes a major philosophic revolution. In this series of essays, she presents her stand on the persecution of big business, the causes of war, the default of conservatism, and the evils of altruism. Here is a challenging new look at modern society by one of the most provocative intellectuals on the American scene. This edition includes two articles by Ayn Rand that did not appear in the hardcover edition: “The Wreckage of the Consensus,” which presents the Objectivists’ views on Vietnam and the draft; and “Requiem for Man,” an answer to the Papal encyclical Progresso Populorum.
How Markets Fail: The Logic of Economic Calamities
John Cassidy - 2009
Farrar, Straus and Giroux, 2009.
Good Strategy Bad Strategy: The Difference and Why It Matters
Richard P. Rumelt - 2011
Richard Rumelt shows that there has been a growing and unfortunate tendency to equate Mom-and-apple-pie values, fluffy packages of buzzwords, motivational slogans, and financial goals with “strategy.” He debunks these elements of “bad strategy” and awakens an understanding of the power of a “good strategy.” A good strategy is a specific and coherent response to—and approach for overcoming—the obstacles to progress. A good strategy works by harnessing and applying power where it will have the greatest effect in challenges as varied as putting a man on the moon, fighting a war, launching a new product, responding to changing market dynamics, starting a charter school, or setting up a government program. Rumelt’snine sources of power—ranging from using leverage to effectively focusing on growth—are eye-opening yet pragmatic tools that can be put to work on Monday morning.Surprisingly, a good strategy is often unexpected because most organizations don’t have one. Instead, they have “visions,” mistake financial goals for strategy,and pursue a “dog’s dinner” of conflicting policies and actions.Rumelt argues that the heart of a good strategy is insight—into the true nature of the situation, into the hidden power in a situation, and into an appropriate response. He shows you how insight can be cultivated with a wide variety of tools for guiding yourown thinking.Good Strategy/Bad Strategy uses fascinating examples from business, nonprofit, and military affairs to bring its original and pragmatic ideas to life. The detailed examples range from Apple to General Motors, from the two Iraq wars to Afghanistan, from a small local market to Wal-Mart, from Nvidia to Silicon Graphics, from the Getty Trust to the Los Angeles Unified School District, from Cisco Systems to Paccar, and from Global Crossing to the 2007–08 financial crisis.Reflecting an astonishing grasp and integration of economics, finance, technology, history, and the brilliance and foibles of the human character, Good Strategy/Bad Strategy stems from Rumelt’s decades of digging beyond the superficial to address hard questions with honesty and integrity.From the Hardcover edition.
Americana: A 400-Year History of American Capitalism
Bhu Srinivasan - 2017
Americana takes us on a four-hundred-year journey of this spirit of innovation and ambition through a series of Next Big Things -- the inventions, techniques, and industries that drove American history forward: from the telegraph, the railroad, guns, radio, and banking to flight, suburbia, and sneakers, culminating with the Internet and mobile technology at the turn of the twenty-first century. The result is a thrilling alternative history of modern America that reframes events, trends, and people we thought we knew through the prism of the value that, for better or for worse, this nation holds dearest: capitalism.In a winning, accessible style, Bhu Srinivasan boldly takes on four centuries of American enterprise, revealing the unexpected connections that link them. We learn how Andrew Carnegie's early job as a telegraph messenger boy paved the way for his leadership of the steel empire that would make him one of the nation's richest men; how the gunmaker Remington reinvented itself in the postwar years to sell typewriters; how the inner workings of the Mafia mirrored the trend of consolidation and regulation in more traditional business; and how a 1950s infrastructure bill triggered a series of events that produced one of America's most enduring brands: KFC. Reliving the heady early days of Silicon Valley, we are reminded that the start-up is an idea as old as America itself.Entertaining, eye-opening, and sweeping in its reach, Americana is an exhilarating new work of narrative history.