When "Creative Destruction" Destroys More than It Creates
Harvard Business Review
JUNE 27, 2012
A list of the top 20 banks today contains only seven that were on the list a decade ago. Of the 70,000 companies with market data available, more than 42,000 earned shareholder returns (dividends + stock price appreciation) below inflation. Markets change; technology evolves. A similar pattern hold for airlines. And for telecom.
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