Great Memos

An archive of historic business documents and strategic correspondence

Historical & Political Documents

Pliny and Trajan on Christians

112 AD Pliny the Younger

Roman governor's letter to Emperor Trajan seeking guidance on prosecuting early Christians.

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Washington's Farewell Address

1783 George Washington

Washington's warning to the nation about political parties, foreign entanglements, and national unity.

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ATTACK ON AMERICAN FREE ENTERPRISE SYSTEM

1971 Lewis Powell

Confidential memo to the U.S. Chamber of Commerce outlining a strategy for corporate influence in politics.

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DuPont Nuclear Memo

1945 W. S. Carpenter Jr.

DuPont executive's memo on nuclear energy development in the post-WWII era.

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Shultz Foreign Policy Memo

1984 George Shultz

Secretary of State's strategic memo on U.S. foreign policy during the Reagan administration.

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Strategic Memos & Leadership

Brevity

1940 Winston Churchill

Churchill's memo demanding concise reporting from military and government officials during WWII.

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The Peanut Butter Manifesto

2006 Brad Garlinghouse

Yahoo executive's leaked memo warning about spreading resources too thin, predicting the company's decline.

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To the equity partners of Philadelphia 76ers, L.P.

2016 Sam Hinkie

76ers GM's 13-page resignation letter defending "The Process" and long-term strategic thinking in basketball.

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We Don’t Sell Saddles Here

2014 Stewart Butterfield

Slack CEO's memo on focusing on what matters and building products users love, not just features.

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The Commoditization of the Starbucks Experience

2007 Howard Schultz

Starbucks founder's transformation agenda memo outlining the turnaround strategy during the financial crisis.

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Thoughts on Messenger

2014 Mark Zuckerberg

Facebook's strategic vision for building a comprehensive messaging platform and ecosystem.

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Instagram acquisition offer

2012 Mark Zuckerberg

Texts from Zuckerberg to Instagram's Kevin Systrom during Facebook's acquisition negotiations.

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The Katzenberg Memo

1991 Jeffrey Katzenberg

Disney Studios chairman's famous memo on revitalizing Disney through creative excellence and cost discipline.

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Brian Graden's VH1 Memo

Early 2000s Brian Graden

MTV President's legendary memo with over 200 suggestions to fix VH1 and revitalize the network.

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The Future of Content

2012 Jason Kilar

Hulu CEO's prescient blog post on how the internet will transform content distribution, written despite Hulu's media ownership.

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How to Write

1982 David Ogilvy

Advertising legend's principles for creating effective campaigns and building a creative agency.

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Tech Leadership & Product Philosophy

iBooks and HarperCollins

2010 Steve Jobs

Jobs' emails regarding Apple's iBooks strategy and negotiations with publishers.

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Communication Within Tesla

2017 Elon Musk

Musk's direct email to Tesla employees about productivity, meetings, and organizational efficiency.

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Windows Usability Systematic degradation flame

2003 Bill Gates

Gates' frustrated email about Windows Movie Maker's difficult installation process, exemplifying user-first thinking.

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The Internet Tidal Wave

1995 Bill Gates

Historic memo where Gates recognizes the Internet as a "tidal wave" and pivots Microsoft's entire strategy.

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Steve Yegge's Platform Rant

2011 Steve Yegge

Google engineer's accidentally public post comparing Amazon and Google's platform philosophies.

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THE ELEVEN LAWS OF SHOWRUNNING

2016 Javier Grillo-Marxuach

TV writer's comprehensive guide to showrunning, covering creative leadership and production management.

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Completed Staff Work

1950s Thomas Watson Jr.

IBM's philosophy on presenting solutions, not problems—bringing fully-formed recommendations to leadership.

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Word 1.0 Postmortem

1989 Peter Jackson

Microsoft's detailed postmortem analysis of the development effort to launch Word 1.0.

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Zero-defects code

1989 Philip Crosby

Quality management philosophy emphasizing prevention over inspection and doing things right the first time.

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Roadkill on the Information Superhighway

1993 Nathan Myhrvold

Microsoft CTO's classic memo on how the internet will disrupt everything, companion to Gates's tidal wave memo.

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Internet Services

2005 Ray Ozzie

Ray Ozzie's classic internal memo to Microsoft on the need to focus on internet services and web-based software.

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Facebook Ads

2012 Andrew Bosworth

Facebook VP's memo on advertising strategy and the philosophy behind Facebook's ad platform.

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Unity Acquisition Thesis

2015 Mark Zuckerberg

Zuckerberg's reasoning for why Facebook should acquire Unity, from Blake Harris's "History of the Future".

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Investment & Business Analysis

GEICO Investment

1976 Warren Buffett

Buffett's analysis of Berkshire Hathaway's investment in GEICO during the company's financial crisis.

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See's Candy Shops, Inc.

1972 Warren Buffett

Buffett's letter to the President of See's candy on brand positioning.

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Letter to Warren Buffett and Partners

1969 Warren Buffett

Buffett's letter explaining his investment philosophy and why he's closing his partnership due to lack of opportunities.

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Washington Post Pension Fund

1975 Warren Buffett

Buffett's letter to Catherine Graham detailing how to save the Washington Post pension system.

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Mutual Savings and Loan Association Resignation

1989 Charlie Munger

Munger's resignation from the Mutual Savings and Loan Association due to industry scandals he found disgusting.

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Vice Chairman Thoughts on Past and Future

2023 Charlie Munger

Munger's reflection on how Berkshire Hathaway was built, what worked, and what will continue to work.

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Go Huskers!

1997 Warren Buffett

Email correspondence between Warren Buffett and Bill Gates' close friend Jeff Raikes on investing in Microsoft.

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Madoff Hedge Fund Fraud

2005 Harry Markopolos

Whistleblower's detailed analysis exposing Bernie Madoff's Ponzi scheme, ignored by the SEC for years.

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Re: YouTube

2010 Roelof Botha (Sequoia)

Sequoia partner's memo detailing knowledge and learnings from their YouTube investment case.

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Yelp Investment

2005 Jeremy Levine (BVP)

Bessemer's early investment memo on Yelp, the local business review platform founded by PayPal alumni.

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LinkedIn Investment

2006 Jeremy Levine (BVP)

Bessemer Venture Partners' investment memo on LinkedIn's Series C, analyzing the professional networking site's network effects.

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LifeLock Investment

2006 David Cowan, James Cham (BVP)

Bessemer's Series A investment memo for LifeLock, analyzing the identity theft protection market opportunity.

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Wix Investment

2007 Adam Fisher (BVP)

Bessemer's seed investment in Wix, the Tel Aviv-based website builder for mass market consumers.

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Dropcam Investment

2009 David Cowan, James Cham (BVP)

Bessemer's seed investment in Dropcam, analyzing the Internet camera service for consumers.

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Twilio Investment

2009 David Cowan, Ethan Kurzweil (BVP)

Bessemer's seed investment in Twilio's communications API platform, joining Founders Fund and Mitch Kapor.

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Mindbody Investment

2010 Jeremy Levine, Sarah Tavel (BVP)

Bessemer's investment in Mindbody, a SaaS platform for fitness centers, yoga studios, and spas.

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Shopify Investment

2010 Alex Ferrara, Trevor Oelschig (BVP)

Bessemer's Series A memo for Shopify, analyzing the e-commerce platform for SMBs.

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Medi Assist Investment

2010 Vishal Gupta, Chitresh Modi (BVP)

Bessemer's investment in Medi Assist, India's largest third party administrator of health insurance claims.

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Fiverr Investment

2011 Adam Fisher, Jeremy Levine (BVP)

Bessemer's investment in Fiverr, the Israel-based marketplace for five-dollar micro-services.

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Pinterest Investment

2011 Jeremy Levine, Sarah Tavel (BVP)

Bessemer's early investment memo on Pinterest, the social e-commerce platform for curating product catalogs.

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SendGrid Investment

2011 Byron Deeter, Ethan Kurzweil (BVP)

Bessemer's Series B investment in SendGrid, the email Platform-as-a-Service company.

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Twitch Investment

2012 David Cowan, Ethan Kurzweil (BVP)

Bessemer's Series B investment in Twitch.tv (formerly Justin.TV), the game streaming platform.

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Why I Am Leaving Goldman Sachs

2012 Greg Smith

Goldman Sachs executive director's scathing New York Times op-ed on the firm's toxic culture and client treatment.

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Auth0 Investment

2014 David Cowan, Sunil Nagaraj (BVP)

Bessemer's seed investment in Auth0, the "Twilio of identity" for web and mobile app authentication.

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PagerDuty Investment

2014 Trevor Oelschig, Ethan Kurzweil (BVP)

Bessemer's Series B investment memo for PagerDuty, the incident response platform for developers.

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Rocket Lab Investment

2014 David Cowan, Sunil Nagaraj (BVP)

Bessemer's Series B investment in Rocket Lab, the aerospace manufacturer and launch service provider.

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ServiceTitan Investment

2015 Byron Deeter, Kristina Shen (BVP)

Bessemer's Series A investment in ServiceTitan, vertical SaaS for home services businesses.

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Velo3D Investment

2015 David Cowan, Sunil Nagaraj (BVP)

Bessemer's Series A memo for Velo3D, analyzing the breakthrough 3D metal printing technology.

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Toast Investment

2015 Kent Bennett, Eric Ahlgren (BVP)

Bessemer's Series B investment in Toast, the Boston-based restaurant point of sale software company.

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Cass Investment Partners Philosophy

2019 Clifford Sosin

Sosin's detailed investment philosophy memo outlining his approach to value investing and capital allocation.

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