Fortune - John Elkann: Fiat's fresh face < 5min

Being in Turin also meant more opportunities to spend time with his grandfather Gianni. They met often for meals and long conversations about business. Slowly, says Elkann, the outlines of a future somewhere within the family firm began to take shape. Yet he was in no way prepared for the brief conversation that took place at Villa Frescot, the Agnelli family home in the pine-clad hills overlooking Turin, when he was 21. ... An older Agnelli cousin, who was being groomed for the capo position, had died suddenly, leaving a board seat open at Fiat. After lunch that day, Elkann recalls, his grandfather said, " 'I'm thinking about the appointment on the board, and I think it should be you.' I wasn't expecting that. I asked him, 'Do you think it makes sense?' " ... Fearing Morchio might quit if he didn't get what he wanted, Elkann flew to Geneva for a secret meeting with Marchionne. ... He had been appointed to Fiat's board a year and a half earlier, but the fact is, he was running a company that tests toasters and baby toys. "I had never made a car or a tractor," he says now. "I really didn't know s**t."

Inc. - What It's Like to Run a Company in the Most Dangerous Places on Earth 5-15min

His customers include the Defense Department and various spy agencies. He has about 200 people on the payroll, most of whom go to work every day in places where they could very well get shot or blown up--Iraq, Afghanistan, Ghana, Djibouti, Somalia, and Libya, to name a few. They guard buildings, protect VIPs, train foreign soldiers, and do a lot of office work, too: "Our specialty," says Patriot Group COO Rob Whitfield, "is providing sometimes common services in real crappy places." ... As a veteran, Craddock knows about war--what it is to confront bad guys face-to-face, to lose a friend in combat, to endure long separations from family, and then to wonder, once you're out, whether you'll ever again do anything as focused, as intense, as in-your-face important as what you did in uniform. As an entrepreneur, he also knows about business--what it is to risk everything on a proposal that goes nowhere, to be cut off by your banker, to drain your 401(k)--and ultimately what it feels like to succeed in a notoriously corrupt industry that's closely regulated, intensely scrutinized, rife with unsavory characters ("Some of the folks who work for us--I wouldn't want to be on their bad side, consistently"), and beholden like no other to the fickle winds of geopolitics. ... Total Defense Department spending on contractors--including those supplying weapons and R&D as well as services--peaked at $412 billion annually, and is down more than 30 percent since 2009. Among the factors: troop drawdowns, shrinking budgets, and a deteriorating business climate marked by intense congressional scrutiny, stricter oversight in the field, and heightened public distrust. ... Ironically, as spending drops, the relative importance of the private sector grows. Contractors deliver continuing access to talented people the military can't otherwise retain and instant access to short-term skills.

Inc. - Meet the $21 Million Company That Thinks a New iPhone Is a Total Waste of Money 12min

Wiens, 33, is co-founder and CEO of iFixit, a company whose mission, he says, is to "teach everybody how to fix everything." On iFixit's website is a vast library of step-by-step instruction sets covering, well, let's see: how to adjust your brakes, patch a leaky fuel tank on a motorcycle, situate the bumper sensor on a Roomba vacuum cleaner, unjam a paper shredder, reattach a sole on a shoe, start a fire without a match, fill a scratch in an eyeglass lens, install a new bread-lift shelf in a pop-up toaster, replace a heating coil in an electric kettle, and--iFixit's specialty--perform all manner of delicate repairs on busted Apple laptops and cell phones. More than 25,000 manuals in all, covering more than 7,000 objects and devices. Last year, according to Wiens, 94 million people all over the world learned how to restore something to tiptop working condition with iFixit's help, which frankly was a little disappointing. Wiens's goal was 100 million. ... IFixit makes about 90 percent of its revenue from selling parts and tools to people who wouldn't know what to do with them if iFixit weren't also giving away so much valuable information. The rest comes from licensing the software iFixit developed to write its online manuals, and from training independent repair technicians, some 15,000 so far, who rely on iFixit to run their own businesses. ... Apple doesn't report just how huge that repair revenue is, but trade journal Warranty Week estimates that one proxy for that--sales of Apple's extended-warranty repair program, AppleCare--delivered the company a staggering $5.9 billion worldwide in 2016. ... "I'm really concerned about the transition in society to a world where we don't understand what's in our things," he says. "Where we are afraid of engineering, afraid of fact, afraid of tinkering. When you take something like a phone or voice recorder and you take it apart and you understand it enough to be able to fix it, a switch flips in your brain. You go from being just a consumer to being someone who is actually a participant."