<<he has now morphed godzillas back into gorillas (evidently) which I guess is what the book is about?>>
There is no discussion of godzillas as such in the new book, but he doesn't quite morph them all back into gorillas either. But that's not really what the book is about at all. Basically, it's a handbook for the CEO of, say, a Fortune 500 company threatened by emerging dotcoms. The point of the book is basically to answer the question, how can I thrive in a world filled with those crazy SI tech investors? The answer is to do the kinds of things we like, adapting to the new world and trying to gain some purchase on expected future earnings.
Here's a tidbit on valuation to whet your appetite:
"Success or failure in achieving a sustainable competitive advantage position in a hypergrowth market does not show up on the P&L until well after the battle for marketplace dominance is underway, with its outcomes already determined. Not understanding this principle results in P&L myopia, a widespread affliction....
"The domain of numbers [the left half of the area under the curve on the GAP/CAP graph] functions as a P&L window. It gives visibility into the next two-to-six quarters, depending on the volatility of the market. Beyond that window, raw numbers offer little or no guidance. Instead one has to model the marketplace, the power of each of the players within it, and the vectors they are on, and then make a determination as to who looks to be in the best position to win and why. This is the realm of CAP analysis. In an established market, CAP changes slowly, and so once it is strategically understood, the knowledge becomes taken for granted.... Thus over time, management teams and investment analysts in mature sectors become increasingly numerical in their approach to the market. But this approach misses the mark when confronted with the kind of recurrent disruptive change that characterizes high tech or any market that is under a technology-based attack." (pp. 72-3)
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