<story><title>“When systems require novel accounting methods the reason is usually fraud”</title><url>https://twitter.com/br4s1d4s/status/1531135288428199936</url></story><parent_chain><item><author>jrvarela56</author><text>I agree with these examples, but to avoid taking the principle too far: EBIDTA was once a made up metric. Sometimes new views of a system do enrich our understanding.&lt;p&gt;Check the &amp;quot;John Malone and the Invention of EBITDA&amp;quot; section in this post for the story of how it was created: &lt;a href=&quot;https:&amp;#x2F;&amp;#x2F;commoncog.com&amp;#x2F;blog&amp;#x2F;cash-flow-games&amp;#x2F;&quot; rel=&quot;nofollow&quot;&gt;https:&amp;#x2F;&amp;#x2F;commoncog.com&amp;#x2F;blog&amp;#x2F;cash-flow-games&amp;#x2F;&lt;/a&gt;</text></item></parent_chain><comment><author>justin66</author><text>Earlier this morning for some reason Youtube recommended a video that was funny and relevant, called &lt;i&gt;Charlie Munger: &amp;#x27;Every time you hear &amp;#x27;EBITDA&amp;#x27; substitute it with &amp;#x27;bull** earnings&amp;#x27;&amp;#x27;&lt;/i&gt;&lt;p&gt;&lt;a href=&quot;https:&amp;#x2F;&amp;#x2F;www.youtube.com&amp;#x2F;watch?v=l82kIjqBtqw&quot; rel=&quot;nofollow&quot;&gt;https:&amp;#x2F;&amp;#x2F;www.youtube.com&amp;#x2F;watch?v=l82kIjqBtqw&lt;/a&gt;</text></comment>
<story><title>“When systems require novel accounting methods the reason is usually fraud”</title><url>https://twitter.com/br4s1d4s/status/1531135288428199936</url></story><parent_chain><item><author>jrvarela56</author><text>I agree with these examples, but to avoid taking the principle too far: EBIDTA was once a made up metric. Sometimes new views of a system do enrich our understanding.&lt;p&gt;Check the &amp;quot;John Malone and the Invention of EBITDA&amp;quot; section in this post for the story of how it was created: &lt;a href=&quot;https:&amp;#x2F;&amp;#x2F;commoncog.com&amp;#x2F;blog&amp;#x2F;cash-flow-games&amp;#x2F;&quot; rel=&quot;nofollow&quot;&gt;https:&amp;#x2F;&amp;#x2F;commoncog.com&amp;#x2F;blog&amp;#x2F;cash-flow-games&amp;#x2F;&lt;/a&gt;</text></item></parent_chain><comment><author>oh_my_goodness</author><text>I&amp;#x27;d go even further. EBITDA is still a made-up metric.</text></comment>