I think modern management will look a lot like portfolio theory… I believe a general theory of management is emerging. It has to help people understand (1) how you take an idea, how you get it started, and how you manage the kind of people who do that well; (2) how you incorporate experiments into your core strategy; (3) how you graduate a new thing that’s been successful into your general business operations and manage it as a mature product; and (4) how you manage a product’s end-of-life, where you have to outsource and reduce costs. I think of those as the four quadrants of the portfolio.
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