On the other hand, as the #PrivateEquity sector has repeatedly demonstrated, there are all kinds of accounting tricks, subsidies and frauds that can animate a decaying, zombie firm long after its best-before date (Keynes's irrational markets):
https://pluralistic.net/2023/06/02/plunderers/#farben
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One company that has done an admirable job of balancing on a knife edge between Stein and Keynes is #Verizon, a monopoly #telecoms firm that has proven that a business can remain large, its products relied upon by millions, its stock actively traded and its market cap buoyant, despite manifest, repeated incompetence and waste on an unimaginable scale.
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This week, Verizon shut down #Bluejeans, an also-ran videoconferencing service the company bought for *$400 million* in 2020 as a panic-buy to keep up with #Zoom. As they lit that $400 mil on fire, Verizon praised its own vision, calling Bluejeans "an award-winning product that connects our customers around the world, but we have made this decision due to the changing market landscape":
https://9to5google.com/2023/08/08/verizon-bluejeans-shutting-down/
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