Brewed Fresh Daily

"Built to Flip. An intriguing idea: No need to build a company, much less one with enduring value. Today, it's enough to pull together a good story, to implement the rough draft of an idea, and -- presto! -- instant wealth. No need to bother with the time-honored method of most self-made millionaires: to create substantial value by working diligently over an extended period. In the built-to-flip world, the notion of investing persistent effort in order to build a great company seems, well, quaint, unnecessary -- even stupid."

He's followed up that article with another where he talks about Enron, WorldCom, and Qwest. He comments:

"All of those stories were connected by one underlying theme: the built-to-flip ethos. I began to see that the dotcom IPO bubble was just one particular strain of a larger pattern, a reflection of a deeper trend in American corporate culture. We didn't just have a built-to-flip IPO bubble; our entire business culture had become a version of built to flip. We became a built-to-flip economy, perhaps even a built-to-flip society."