Governance
Too Many Managers, Not Enough Value Creation
The biggest risk facing many companies is not valuation; it is organisational complexity. Airtasker's Tim Fung on why scale and capability are not the same thing.
Lawrence Lam
Lawrence Lam is the founder of Lumenary and author of The Founder Effect. He developed Lumenary's founder-led classification methodology which underpins the Lumenary founder-led indices.
Evidence
The Founder Effect: China and Hong Kong 2026
Founder-led China A-shares returned 13.75% a year from 2020 to 2026 against 0.63% for the China all-cap index. Hong Kong went the other way.
Evidence
The Founder Effect: Annual Report 2026
Founder-led companies returned 17.10% a year from 2016 to 2026 against 13.53% for the benchmark, with higher volatility and a deeper drawdown.
Governance
Why Elon Musk's pay packet is justified
The headline number is absurd; the structure is not. Three questions to ask of any CEO remuneration plan.
Governance
Netflix's Warner Move Shows Why Decision-Making Beats Scale
Reed Hastings no longer runs Netflix, but the decision-making system he built is what made the Warner move possible.
Governance
What Optus and ANZ can teach investors about founder-led companies
Optus and ANZ were not unlucky. Both failures trace back to how decisions get made inside large bureaucracies.
Governance
Want World-Leading Businesses? Start With Longer CEO Pay Deals
Ninety-six per cent of ASX 200 chief executives received a bonus last year. The problem is not the size of the pay; it is the timeframe.
Evidence
Where the Founders Are Putting Money to Work
Goodman, Atlassian and Hyundai are committing capital on decade-long horizons. Where founders allocate is rarely accidental.
Evidence
The DNA of long-term compounding machines
Four observable markers of founder behaviour, and the Australian companies quietly displaying them.
Governance
Nvidia's CEO is selling. Here's why Aussie investors should care
Jensen Huang's selldown is small in percentage terms, but insider selling near peak valuations has a well-documented record.
Evidence
Why Founder-Led Firms Are the Real Safe Haven in Volatile Times
In the last real stress test, founder-led firms rebounded almost six times harder than companies run by hired executives.
Governance
Productivity Reform Will Fail Without Rethinking Corporate Decision-Making
Canva is now worth more than Telstra. The productivity debate keeps ignoring the thing that explains why.