Welcome to The Nightcrawler, a weekly collection of thought-provoking articles and analysis on technology, innovation, and long-term investing. The Nightcrawler is published every Friday evening by Eric Markowitz, a partner at Nightview Capital and the firm’s Director of Research. Follow him on X.
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In this evening’s email…
Quote of the week: “The most dangerous phrase in the language is, ‘We’ve always done it this way.'” – Grace Hopper
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What we can learn about resilience from the Pantheon
The Pantheon in Rome—nearly 2,000 years old and still standing as the world’s largest unreinforced concrete dome—has puzzled scientists for decades. Why has it endured while more modern structures have crumbled? Researchers at MIT finally cracked the riddle last year: Roman engineers, they discovered, used a technique called “hot mixing” with quicklime, which created a self-healing concrete that actually repaired itself over time.
This discovery got me thinking. In a recent column for The Long Game in Big Think, I explored what investors and executives can learn from the Pantheon’s resilience. Roman engineers didn’t just build for their time; they innovated to ensure their work would endure over the following centuries. The lesson for investors is clear: the strongest companies don’t just survive—they adapt and grow stronger with time.
- Key quote: “For companies, stability over relentless growth offers a similar advantage. Businesses grounded in long-term principles — a clear mission, enduring values, and customer relationships — are often more resilient than those chasing rapid expansion or short-lived trends. And just as stability forms a crucial foundation, so too does craftsmanship — the attention to detail and commitment to quality that imbue an organization with lasting strength.”
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Why an anthropologist studied Xerox technicians
In the 1980s, technician-turned-anthropologist Julian Orr embedded himself with Xerox repair techs to solve a puzzling disconnect: why these teams, despite working under rigid corporate systems, thrived as problem-solving units. Orr discovered the answer in their “war stories”—complex narratives shared over meals and in stolen moments, recounting solutions to bizarre copier failures.
Stewart Brand recently retold this story in a fascinating essay, highlighting how grassroots ingenuity often outperform top-down mandates. As Brand explains, Orr found that these technicians operated as “communities of practice,” where reputation wasn’t tied to rank, but competence, and shared wisdom was critical to keeping machines—and relationships with customers—running.
- Key quote: “Given that the only status within the community is that of competent practitioner, fame can only be based on a reputation for extraordinarily competent practice, the ability to solve newer and harder problems. Since technicians normally work alone, achievements will only be known if the person responsible tells them. Moreover, technicians want the information to circulate, so that others can address similar problems. A team shares responsibility for its calls, so there is incentive to have all members competent for as many problems as possible.”
A few more links I enjoyed:
When Order Conceals Chaos – via Coleman McCormick
- Key quote: “Natural order develops organically. The tree branch’s parts are connected to create a self-organized, functional, living system. The system — a tree — is defined by not only its parts, but the relationship between the parts. The branch, the bark, and the needles exist in a harmony with one another to perform a function.”
Die helping, not clutching the levers of power – via Adam Singer
- Key quote: “Our culture fetishizes productivity and self-absorption. We revere the idea of working until you physically can’t anymore, often confusing it with meaning or virtue. But there’s something broken about a society where elder statesmen, cultural icons, and political leaders don’t know when or even that they should pass the torch and champion the new generation. We didn’t always get this so wrong.”
Qualities We Can Learn From Children w/ Allison Paradise – via The Art of Quality
- Key quote: “Allison Paradise’s approach to creativity and development is rooted in the principles of intuition, wonder, and authenticity. With a background in neuroscience from Brown and Harvard, Allison initially pursued a career as a research scientist and consultant… Through her work, Allison fosters quality across all things curiosity and self-discovery, transforming how people relate to themselves, others, and the planet.”
What Makes A Great Business? – via James Emanuel
- Key quote: “So, having defined a great business, how does an investor find one? The answer, is not to look for them, but to eliminate those that don’t fit the requisite criteria and then see which companies are left. It will be a surprisingly small number of businesses and that is the pool in which an investor ought to be fishing.”
From the archives:
Expiring vs. Permanent Skills – via Morgan Housel (2020)
- Key quote: “But permanent skills compound over time, which gives them quiet importance. When several previous generations have worked on a skill that’s directly relevant to you, you have a deep well of relevant examples to study. And when you can spend a lifetime perfecting one skill whose importance never wanes, the payoffs can be ridiculous. Anything that compounds over decades usually is.”
This information should not be considered a recommendation to purchase or sell any particular security. It should not be assumed that any of the investments or strategies referenced were or will be profitable, or that investment recommendations or decisions we make in the future will be profitable. This article contains links to 3rd party websites and is used for informational purposes only. This does not constitute as an endorsement of any kind. While Nightview uses sources it considers to be reliable, no guarantee is made regarding the accuracy of information or data provided by third-party sources. Nightview Capital Management, LLC (Nightview Capital) is an independent investment adviser registered under the Investment Advisers Act of 1940, as amended. Registration does not imply a certain level of skill or training. More information about Nightview Capital including our investment strategies and objectives can be found in our ADV Part 2, which is available upon request.
