Business & Economics

Innovations rarely come from “experts.” Elon Musk was not an “electric car person” before he started Tesla. When it comes to improbable innovations, a legendary tech VC told Sebastian Mallaby, the future cannot be predicted, it can only be discovered. It is the nature of the venture-capital game that most attempts at discovery fail, but a very few succeed at such a scale that they more than make up for everything else. That extreme ratio of success and failure is the power law that drives the VC business, all of Silicon Valley, the wider tech sector, and, by extension, the world.

In The Power Law, Sebastian Mallaby has parlayed unprecedented access to the most celebrated venture capitalists of all time—the key figures at Sequoia, Kleiner Perkins, Accel, Benchmark, and Andreessen Horowitz, as well as Chinese partnerships such as Qiming and Capital Today—into a riveting blend of storytelling and analysis that unfurls the history of tech incubation, in the Valley and ultimately worldwide. We learn the unvarnished truth, often for the first time, about some of the most iconic triumphs and infamous disasters in Valley history, from the comedy of errors at the birth of Apple to the avalanche of venture money that fostered hubris at WeWork and Uber.

VCs’ relentless search for grand slams brews an obsession with the ideal of the lone entrepreneur-genius, and companies seen as potential “unicorns” are given intoxicating amounts of power, with sometimes disastrous results. On a more systemic level, the need to make outsized bets on unproven talent reinforces bias, with women and minorities still represented at woefully low levels. This does not just have social justice implications: as Mallaby relates, China’s homegrown VC sector, having learned at the Valley’s feet, is exploding and now has more women VC luminaries than America has ever had. Still, Silicon Valley VC remains the top incubator of business innovation anywhere—it is not where ideas come from so much as where they go to become the products and companies that create the future. By taking us so deeply into the VCs’ game, The Power Law helps us think about our own future through their eyes.

In two decades as a television reporter, T. J. Winick covered many scandals. The biggest mistake he saw brands make was to try to “make it go away” by refusing to apologize, declining to comment, or going on the attack—anything to deflect attention. Often that kind of response becomes a scandal of its own.

In his book, Winick argues instead for transparency, honesty, authenticity, and empathy. Handled correctly, the way you address an egregious violation of your standards can increase your reputation capital. It can remind people of what those standards are and how strongly you believe in them.

Drawing on his intimate insider knowledge of the media, Winick addresses every conceivable aspect of how to respond to a scandal. He includes his Ten Crisis Commandments—universal dos and don’ts—and the seven qualities for an effective response. Using dozens of examples, he covers critical issues such as choosing when and how to apologize and when not to, creating a crisis communication plan and forming a response team, making the press your ally; choosing the right social media channel to deliver your message, navigating controversial social issues, and much more.

Winick’s experience covering brands in crisis and then defending them makes this book an invaluable resource. “I have been both the hunter and the hunted,” he writes. If you’ve built your reputation capital through years of living the ideals you espouse, this book will help you protect and defend it when that inevitable crisis strikes.

Drawing on their years of experience working at remote companies DuckDuckGo and Automattic, plus dozens of interviews with leading experts, Ali Greene and Tamara Sanderson have written the ultimate playbook for managing remote teams.

This book addresses challenges such as communicating effectively (with fewer meetings!), eliminating frustration over what tools to use, establishing team norms, and focusing on getting things done. You will learn how to work best remotely and create a workplace designed for freedom, flexibility, and focus.

For decades, we’ve planned our lives around our work. Now it’s time to intentionally design work to fit our lives.

The history of the last half century in America, Europe, and other major economies is in large part the story of wealth flowing upward. The most affluent people emerged from capitalism’s triumph in the Cold War to loot the peace, depriving governments of the resources needed to serve their people, and leaving them tragically unprepared for the worst pandemic in a century.

Drawing on decades of experience covering the global economy, award-winning journalist Peter S. Goodman profiles five representative “Davos Men” – members of the billionaire class – chronicling how their shocking exploitation of the global pandemic has hastened a fifty-year trend of wealth centralization. Alongside this reporting, Goodman delivers textured portraits of those caught in Davos Man’s wake, including a former steelworker in the American Midwest, a Bangladeshi migrant in Qatar, a Seattle doctor on the front lines of the fight against COVID, blue-collar workers in the tenements of Buenos Aires, an African immigrant in Sweden, a textile manufacturer in Italy, an Amazon warehouse employee in New York City, and more.

Goodman’s rollicking and revelatory exposé of the global billionaire class reveals their hidden impact on nearly every aspect of modern society: widening wealth inequality, the rise of anti-democratic nationalism, the shrinking opportunity to earn a livable wage, the vulnerabilities of our health-care systems, access to affordable housing, unequal taxation, and even the quality of the shirt on your back. Meticulously reported yet compulsively readable, Davos Man is an essential read for anyone concerned about economic justice, the capacity of societies to grapple with their greatest challenges, and the sanctity of representative government.

The publication of The Wealth of Nations in 1776 coincided with America’s Declaration of Independence, and with this landmark treatise on political economy, Adam Smith paved the way for modern capitalism, arguing that a truly free market – fired by competition yet guided as if by an ‘invisible hand’ to ensure justice and equality – was the engine of a fair and productive society. Books I – III of The Wealth of Nations examine the ‘division of labour’ as the key to economic growth, by ensuring the interdependence of individuals within society. They also cover the origins of money and the importance of wages, profit, rent and stocks, but the real sophistication of his analysis derives from the fact that it encompasses a combination of ethics, philosophy and history to create a vast panorama of society.

This edition contains an analytical introduction offering an in-depth discussion of Smith as an economist and social scientist, as well as a preface, further reading and explanatory notes by Andrew Skinner.