In a major Silicon Valley court case, Uber just gave a $1/4 billion chunk of itself to Google's self-driving car company, Waymo. It came with a "sorry for stealing your trade secrets."
What was interesting was that some of the most valuable of Waymo’s research data described not what worked, but what didn’t.
Many fields of study capture important information about failure.
Regulators are thinking of making drug companies share both negative and positive results from drug tests.
In our teaching we've seen the value of emphasizing what things are not, as much as what they are.
For example, liabilities, equity, revenue and expenses are never money. Assets alone can be.
Thinking that revenue is "money-in" is the biggest misconception in finance. Companies have failed because of it.
That’s a crash we can all learn from.
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