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McKinsey's Marvin Bower, the person who truly created the firm, made the critical decision to walk away when he was done without extracting anything. He thus s
by lancewiggs 4y ago
McKinsey's Marvin Bower, the person who truly created the firm, made the critical decision to walk away when he was done without extracting anything.
He thus set the standard for future generations of partners, and the result was the creation of an enduring global firm* run by the current partnership group.
Dalio's approach means that the firm is set up to prioritise his personal wealth, not investor and existing partner outcomes. Future partners and investors can read into that as they will, but it doesn't seem sustainable.
*like it or not.
- miguelazo 4y agoYet ironically, McKinsey is now totally disgraced.
- uoaei 4y agoFor reasons having nothing to do with ownership structure, so that doesn't seem as relevant.
- lmm 4y agoIt's all related. Maybe that kind of disgraceful behaviour is less likely when the company is closely identified with an individual whose reputation is at stake (whether that's Dalio, Bower or anyone else), and so a pattern where companies close up as that person retires rather than becoming enduring standalone brands would be better for society.
- selectodude 4y agoThat’s a heck of a take.
- rr808 4y ago> He thus set the standard for future generations of partners, said who?
- deleted 4y ago[deleted]
- chollida1 4y agoInteresting, this is the first time I've heard of Marvin Bower, in relation to Bridgewater. What relationship are you claiming he had with the firm as I can't really find anything about him and Bridgewater at all.