Alan Murray at Fortune summarizes a lengthier piece by Geoff Colvin called Why every aspect of your business is about to change. Here is my summary of Murray's summary:
1. You don't need a lot of physical capital. …
2. Human capital will matter more than ever. …
3. The nature of employment will change. For the rest of your employees, gig work will grow. …
4. Winners will win bigger, and the rest will fight harder for the remains. … McKinsey Global Institute puts it: "tech and tech-enabled firms destroy more value for incumbents than they create for themselves."
5. Corporations will have shorter lives. The average life span of companies in the S&P 500 has already fallen from 61 years in 1958 to 20 years today. It will fall further.
6. Intellectual property knows no natural boundaries.
Fascinating stuff.
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