The boring math behind 1,750x
Half of all acquisitions destroy value. Here’s the underwriting that never did.
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August 2026
Problems hide in averages
The counterweight to all that autonomy is sunlight.
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Treat them like owners
Autonomy without ownership is abandonment. Ownership without autonomy is a slogan.
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Run your payroll like a salary cap
A blank-sheet exercise that shows where the roster drifted.
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