The Roles of a Board’s ‘Dream Team’

If you remember the NBA’s original Dream Team, your memories are probably defined by a brilliantly assembled squad that included a triumvirate of the sport’s all-time greats — Magic, Larry, and Michael. But the truly incredible thing about that Dream Team wasn’t that it won the gold medal at the 1992 Summer Olympics. Instead, it was…

Scott Maxwell: What is the Sound of a Bubble About to Pop?

NASDAQ had its all-time peak on March 10, 2000, when it closed at just under 5,050. The market had been on an absolute tear for several months, having risen from 2,732 the prior October. The world had made it through Y2K, the dotcoms were winning everyone’s hearts and minds, and the last hold-out investors were […]

Scott Maxwell: Where Will You Be When the Next Bubble Pops?

In 1998, I received a request from the CEO of Putnam Investments to lead an Internet strategy project. Amazon.com had gone public in 1997, and there was a concern within most companies that the Internet would disintermediate their distribution channels similar to what was happening in the book retail industry. From a financial services perspective, […]