Weekend Briefing No. 605
Dirtbag Billionaire -- Nike’s 10 Principles -- Google's Strategic Antitrust Victory
Welcome to the weekend.
I'm such a huge fan of Patagonia—I actually worked my way through college selling their gear, and I've watched them lead the B Corp movement for years. As a corporate lawyer working with impact-driven companies, I'm absolutely fascinated by the innovative structure they created to make "Earth their only shareholder." David Gelles' new book "Dirtbag Billionaire" is hands down my favorite business book of the year—seriously, do yourself a favor and go buy it immediately. Here's my Forbes piece breaking down Chouinard's remarkable story and what it means for the future of business, and see my interview with Gelles below.
Prime Numbers
2568 — More than a third of children don't play outdoors after school, according to a University of Exeter study of 2,568 children, raising concerns as outdoor play is essential for developing social-emotional skills and preventing obesity, anxiety, and depression.
50 — With 50 members of Congress over age 75 up for reelection, about 70 percent plan to run again, demonstrating how structural electoral advantages and peak political influence incentivize older lawmakers to remain in office despite their advanced age.
37 — NORAD has already intercepted 37 civilian aircraft through August for restricted airspace violations, putting 2024 on pace to match last year's record 72 intercepts—nearly double the typical 30-40 annual interventions that trigger F-16 scrambles.
Dirtbag Billionaire
I sat down with New York Times journalist David Gelles to discuss his new book "Dirtbag Billionaire," which chronicles how Yvon Chouinard built Patagonia by embracing contradictions that defy conventional business wisdom. The defining moment came in the early 1960s when Chouinard stopped selling pitons—his company's main product—because they were damaging Yosemite's granite walls, choosing environmental responsibility over short-term profits. After experiencing devastating layoffs during "Black Wednesday" in the late 1980s, Patagonia permanently changed its approach to maintain cash reserves and deliberately restrain growth to avoid future mass firings. The company embodies unresolvable paradoxes, running "Don't Buy This Jacket" campaigns while needing customers to buy gear, and pursuing both profitability and environmental activism simultaneously. In 2022, Chouinard gave away his $3 billion company through an unprecedented structure that preserved its independence while directing all profits to environmental causes, proving that embracing contradictions between profit and purpose can be both productive and influential. You can watch the entire interview to learn more about Chouinard's remarkable journey and the lessons it offers for building values-driven companies. YouTube (40 minutes)
Ready for New Tax Law?
The One Big Beautiful Bill Act is here, and with it comes a massive overhaul of the tax landscape. This new legislation introduces significant changes to deductions, credits, and tax brackets that could dramatically impact your financial situation. Attempting to navigate these complex new rules on your own can be a daunting and risky endeavor, potentially leading to missed opportunities or costly errors. This is where a professional tax advisor becomes an invaluable partner. TaxFrame helps you understand how the new laws apply to you, identify opportunities for tax savings, and develop a comprehensive, long-term strategy. Don't let this landmark legislation catch you off guard—proactive tax planning with an advisor can help you secure your financial future. Book a call now. Tax Frame (Sponsored)
Nike’s 10 Principles
In 1977, Nike's Rob Strasser wrote the famous "10 Principles" memo to remind employees of the company's scrappy, competitive roots, crystallizing Nike's culture. They are: 1) Our business is change. 2) We are on offense all the time. 3) Perfect results count, not a perfect process. 4) Break the rules, fight the law. This is as much about battle as about business. 5) Assume nothing. Make sure people keep their promises. Push yourselves, push others, stretch the possible. 6) Live off the land. 7) Your job isn’t done until the job is done. 8) Dangers: bureaucracy, personal ambition, energy takers vs. energy givers, knowing our weaknesses, don’t get too many things on the platter. 9) It won’t be pretty. 10) If we do the right things, we’ll make money damn near automatic. Acquired Briefing (16 minutes)
Google's Strategic Antitrust Victory
Google dodged the antitrust bullet that could have shattered its empire – a federal judge rejected breaking up the tech giant despite finding it illegally monopolized search for over a decade. In a major antitrust ruling, a judge lets Google keep Chrome but levies other penalties. The company must end exclusive deals that make Google the default search engine on devices, but crucially gets to keep Chrome browser and maintain its lucrative $20+ billion annual partnership with Apple. Google must share some search data with competitors. Investors celebrated with stock jumps over 6% as the ruling preserved the company's core structure. WSJ (4 minutes)
Cola Wars in Space
This is the story of how two soda giants turned NASA into their battlefield, proving that even rocket science can't escape petty corporate rivalries. In 1985, Coca-Cola and PepsiCo dragged the space agency, senators, and the White House into an absurd year-long fight over who could claim the first carbonated beverage in orbit. The companies spent hundreds of thousands of dollars engineering specialized containers and lobbying politicians, only to discover that drinking soda in zero gravity causes uncomfortable "wet burps" where gas and liquid exit together. Despite all the political drama and engineering effort, carbonated drinks never became a regular part of space missions, making this one of history's most expensive marketing stunts for a product nobody actually wanted in space. NYT (17 minutes)
Water Panic Misses Reality
Most alarming headlines about water consumption completely miss the crucial distinction between water that gets used up forever versus water that simply gets borrowed and returned. America uses 322 billion gallons daily, but 97% of the largest category – thermoelectric power plant cooling – gets pumped right back where it came from at a slightly higher temperature. Even controversial data centers, despite using millions of gallons daily, consume roughly the same amount of water as 6% of US golf courses while generating thousands of times more economic value per gallon. The real water story isn't about total usage but about the 2% of precipitation that actually gets consumed permanently, mostly through crop irrigation in western states where groundwater depletion presents genuine long-term challenges. Overall US water consumption has actually declined 18% since 1980, even as alarmist coverage has increased. Construction Physics (15 minutes)
Less Time Swiping
The most successful dating app is deliberately trying to make itself unnecessary – Hinge's CEO wants users to spend less time swiping and more time on actual dates. Rather than maximizing screen time like other social platforms, Hinge partners with therapists like Esther Perel to create conversation prompts that help users connect authentically and move offline quickly. The company's strategy involves using AI not to keep people endlessly scrolling, but to create more efficient matching and better profile coaching so users can find meaningful relationships faster. This counterintuitive approach of building a product designed for people to stop using it reflects a broader shift toward addressing digital fatigue and the loneliness epidemic among young adults. Fast Company (6 minutes)
Should We Work Together?
Hi! I’m Kyle. This newsletter is my passion project. When I’m not writing, I run a law firm that helps startups move fast without breaking things. Most founders want a trusted legal partner, but they hate surprise legal bills. At Westaway, we take care of your startup’s legal needs for a flat, monthly fee so you can control your costs and focus on scaling your business. If you’re interested, let’s jump on a call to see if you’re a good fit for the firm. Click here to schedule a one-on-one call with me.
Weekend Wisdom
Real adventure is defined best as a journey from which you may not come back alive, and certainly not as the same person. - Yvon Chouinard