There are two kinds of businesses: The first earns 12%, and you can take it out at the end of the year. The second earns 12%, but all the excess cash must be reinvested - there's never any cash. It reminds me of the guy who looks at all of his equipment and says, 'There's all of my profit. ' We hate that kind of business.
I still do believe that form and content are very much related. I think throwing away some of the rule books on that is a good thing.