The Future Of Competitive Strategy

This is the definitive history of General Electric’s epic decline, as told by the two Wall Street Journal reporters who covered its fall.

Since its founding in 1892, GE has been more than just a corporation. For generations, it was job security, a solidly safe investment, and an elite business education for top managers.

GE electrified America, powering everything from lightbulbs to turbines, and became fully integrated into the American societal mindset as few companies ever had. And after two decades of leadership under legendary CEO Jack Welch, GE entered the twenty-first century as America’s most valuable corporation. Yet, fewer than two decades later, the GE of old was gone.

​Lights Out examines how Welch’s handpicked successor, Jeff Immelt, tried to fix flaws in Welch’s profit machine, while stumbling headlong into mistakes of his own. In the end, GE’s traditional win-at-all-costs driven culture seemed to lose its direction, which ultimately caused the company’s decline on both a personal and organizational scale. Lights Out details how one of America’s all-time great companies has been reduced to a cautionary tale for our times.

Being successful musicians was simply never enough for the three kings of hip-hop. Diddy, Dr. Dre, and Jay-Z lifted themselves from childhood adversity into tycoon territory, amassing levels of fame and wealth that not only outshone all other contemporary hip-hop artists, but with a combined net worth of well over $2 billion made them the three richest American musicians, period.

Yet their fortunes have little to do with selling their own albums: between Diddy’s Ciroc vodka, Dre’s $3 billion sale of his Beats headphones to Apple, and Jay-Z’s Tidal streaming service and other assets, these artists have transcended pop music fame to become lifestyle icons and moguls.

Hip-hop is no longer just a musical genre; it’s become a way of life that encompasses fashion, film, food, drink, sports, electronics and more — one that has opened new paths to profit and to critical and commercial acclaim. Thanks in large part to the Three Kings — who all started their own record labels and released classic albums before moving on to become multifaceted businessmen — hip-hop has been transformed from a genre spawned in poverty into a truly global multibillion-dollar industry.

These men are the modern embodiment of the American Dream, but their stories as great thinkers and entrepreneurs have yet to be told in full. Based on a decade of reporting, and interviews with more than 100 sources including hip-hop pioneers Russell Simmons and Fab 5 Freddy; new-breed executives like former Def Jam chief Kevin Liles and venture capitalist Troy Carter; and stars from Swizz Beatz to Shaquille O’Neal, 3 Kings tells the fascinating story of the rise and rise of the three most influential musicians in America.