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1/ My favorite Clayton (RIP) quote is about CREAM.

"Chang noted that banks don't accept deposits denominated in ratios. He reminded me there is a simpler way to account for finances: in whole dollars. After all, that is what banks accept ?— dollars."
deseret.com/2012/12/9/2044…
2/ "Chang suggested what is probably a better measure of profitability: tons of money. His dictum is more tons of money is better than less tons of money.

The focus on carefully calculated ratios might make sense when capital is scarce.. But today capital is not scarce."
3/ I wrote about Clayton's more famous disruptive innovation thesis here: google.com/amp/s/25iq.com…. Like my 25iQ post, this bio/obituary from today also describes how his disruptive innovation theory is being misused: news.google.com/articles/CAIiE…
4/ "Disruptive technologies are dismissed as toys because when they are first launched they 'undershoot'' user needs. A product doesn’t have to be disruptive to be valuable. There are plenty of products that are useful from day one." Chris Dixon
5/ Clayton is talking about the importance of cash flow here. MD managers would later take control of Boeing even though they were technically acquired. Earnings aren't cash flow. Cash flow is a fact rather than opinion and is oxygen for a business.
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