Life Cycles of the (Not-So) Rich and (Formerly) Famous
Jeff Bezos, the richest man in the world and the founder of Amazon, recently predicted to a group of employees that “Amazon will go bankrupt.” He was reflecting on the recent bankruptcy of Sears, which not that long ago was as formidable as Amazon is today. “If you look at large companies,” he said, “their lifespans tend to be 30-plus years, not a hundred-plus years.” I know what you’re thinking: That doesn’t seem right. Large companies have enduring strength. Massive corporations such as those in the Dow Jones Industrial Average (DJIA) are cornerstones of our economy. We don’t think [...]
