Patrick McKenzie+ Your Authors @patio11 I work for the Internet, at @stripe, mostly on accelerating startups. Opinions here are my own. Sep. 06, 2020 1 min read + Your Authors

Annual Reports make for such interesting reading. I'm recently digging some historical annual reports, which are both a study of business and a study of culture at a point in time.

For example, there's some serious pmarca energy in AT&T's 1913 annual report:

"We just invented a new discipline from scratch and #)(#& yes we are best in the world at it. You'll understand in 10 years when we're 30 years ahead. Sincerely, AT&T." is a writing style I almost wish we had more of.

(You could kinda imagine that appearing in a Tesla communication?)

You should also see their bemused, naked contempt for the competition. For their capital allocation, their pricing schemes, their attempts to bring regulators to bear against AT&T, everything.

Yes, children, enjoy your play and then wash up for supper.


You can follow @patio11.



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