> if you do everything, you do nothing well. Sometimes that's true, but I think that most often, these kind of transactions (M&A, spin-offs etc) are the result

> if you do everything, you do nothing well. Sometimes that's true, but I think that most often, these kind of transactions (M&A, spin-offs etc) are the result of political gaming on top of companies, rather than driven by actual business or financial needs. Top managers play their own game very well, and at the end of those transactions usually there is a bonus paid out, no matter the results 5 years down the road. It's not as if verticals within a large company hadn't their own specialized staff, focusing on their own products.