Michael - Mike - Munger’s big thing.
Originally? From The Nature of the Firm
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Creating legible interfaces is expensive
The changing structure of American Innovation - some cautionary remarks for economic growth
When is externalized research better than internalized research and vice versa?
R&D orgs lie on a spectrum between externalized and internalized execution and benefits
DARPA doesn’t do any research in house
Bell Labs was only profitable in conjunction with AT+T
It is important for big things to start small
Bell Labs was not a business
Manufacturing is important and often ignored
Externalized research is a buffer against B players