Michael Moritz: Winners in Silicon Valley put in the hard yards
How can markets support a new generation of creators? "Board members and senior public company executives believe that longer-term strategic thinking improves corporate performance — and research bears them out. But they admit to consistently making decisions based on short time horizons. The result is that CEOs slash R&D while orchestrating stock buybacks, which boost earnings per share (and, not incidentally, executive pay)." Ainsley Harris analyses in Fast Company.