Think You Understand Capitalism? Think Again.

European Straits #174

Hi, it’s Nicolas from The Family. Today, I’m preparing the ground for making sounder investment decisions in the Entrepreneurial Age. Let’s start with a reminder about capitalism.

⚠️ My colleague Younès Rharbaoui, who works with me on managing The Family’s finances, has just launched his newsletter, Chasing Paper. It’s specifically targeted at CFOs to help them upgrade their practices and best navigate today’s widespread uncertainty. Needless to say, it’s rooted in our own way of doing things at The Family as well as the work we do with our many portfolio companies as they tackle financial challenges.

Have a look at the first issue of Chasing Paper, Uncertainty & a post-fixed costs economy:

What’s different this time around? Isn’t it the same in all crises? Fixed costs get unplugged and replugged all the time. Here’s the thing: I believe we’re in a post-fixed costs economy, rather than just another instance of crisis cash management, because technology now makes it possible for companies…