The Hard Thing About Hard Things: Building a Business When There Are No Easy Answers

by Ben Horowitz

telling Mike or me, revealed the

added to the business. Based on Andy’s guidance, I wrote a short document

It would have been better to take into account the white box. The white box goes beyond the numbers and gets into how the organization produced the numbers. It penalizes managers who sacrifice the future for the short term and rewards those who invest in the future even if that investment cannot be easily measured.

High Output Management,