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The value of institutional memory

In 1978, a dredging gang working for British Waterways was struggling with a problem. They were trying to clear obstacles on the Chesterfield Canal so they could stabilise a concrete wall — not an easy day’s work. But what really had them stumped was a heavy iron chain on the canal bottom. After various attempts, they hooked the chain to their dredger. That did the trick. A firm pull removed the chain and the block of wood on the end of it. The gang took a well-earned break for tea. The tea bre

The Value of Institutional Memory

In 1978, a dredging gang working for British Waterways was struggling with a problem. They were trying to clear obstacles on the Chesterfield Canal so they could stabilise a concrete wall — not an easy day’s work. But what really had them stumped was a heavy iron chain on the canal bottom. After various attempts, they hooked the chain to their dredger. That did the trick. A firm pull removed the chain and the block of wood on the end of it. The gang took a well-earned break for tea. The tea bre

Zuck, Sandberg, and Thiel Skate Free From Testifying After Settlement in Meta Privacy Suit

An $8 billion shareholder lawsuit against Meta over the Cambridge Analytica scandal ended in an undisclosed settlement on Thursday. The settlement, which came at the last minute as a trial was getting underway, saved high-ranking members of Meta’s board from having to testify under oath about their roles in those alleged violations. The lawsuit, which was originally filed in 2018, asked the defendants to use billions of their personal wealth to compensate for the financial damages it accused th