thinkfuture: technology, philosophy and the future
Business:Management
294 EXTRA less competition = less capitialism = less innovation
Good morning everyone, and welcome to the thinkfuture podcast. I'm your host, Crystal Palace, and once again, we're coming in July from deep in the heart of Silicon Valley, California. Now I ask you. Do you find that innovation has stalled lately? The innovation has run up against a brick wall and doesn't seem to be getting anywhere. And I wonder if that has something to do with us stepping away from the concept of competition. Now in a capitalistic system in a capitalist system, competition is what drives everything. Competition drive sales drive profitability drives adoption of new products; it drives everything, but for some reason, over the last little while, we've all stepped back and decided that you know, maybe competition isn't a fat good thing anymore.
Perhaps we shouldn't focus on doing better or getting better or advancing ourselves are grabbing market share. Whatever I mean, some companies are doing that look at something like Amazon Amazon's pretty cutthroat about it. But there's plenty of other companies who are stepping back and looking at other things in looking at it in a more holistic way they're looking at their employees well being they're looking at employee they're looking at there. Customers they're looking at social justice. They're looking at all these different factors that have nothing to do with being competitive. They'd instead take. Political positions then focus on competition focused on execution, focus on their products, and services focus on being the best possible product at the best possible price in the best possible space to capture that customer. In short, they're stepping away. From capitalism, they're stepping away from capitalism and not making profits the business's driving motives there. I mean, it's still there, but I find it's getting less and less critical. Those companies who don't have this as the business driver that they're not competing effectively and efficiently against their customers are going to die, I'm sorry. I'm sorry, but you know all of the social justice stuff is excellent. All of this thinking about things outside of profitability is great. However, it's dangerous. It's dangerous ground, especially considering the current economic situation that we're in.
We need to re-up our focus on innovation; we need to re-up our emphasis on profitability. We need to re-up our emphasis on competition on driving our competitors into the ground. I mean, it sounds cruel. It sounds horrible. But the reality is that that's what capitalism is. That's what business is. Capitalism business is based on the meter; it's survival of the fittest, and the company that does the best will win. I mean, look at what's happening right now with the coronavirus. A company like Amazon and E. commerce online companies like Amazon is taking it to the bank. They're doing amazingly great because they are focusing on taking advantage of the crisis and driving more profitability driving more services using that ability that they have to ship things to the customer to capture that market share away from other companies now, some of you may be going all my god that's horrible, but if you're an Amazon shareholder, you're probably going yes yes yes as a thing shoots up over above 3000 percent $3000 a share
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