BENCHMARKING IS BAD

Summary from the TLDR Founders newsletter

Luca Maestri, Apple's former CFO, served for 11 years before stepping down. He strongly opposed using benchmarks and instead emphasized the importance of forming efficient teams. He believed that having the right people is more crucial than having a large workforce. Maestri argued that relying on benchmark data can lead to poor decision-making, as it may not accurately reflect current economic conditions. While beneficial for investors, benchmarking can be detrimental for decision-makers if used incorrectly due to variations in definitions, accounting practices, and historical data.