You May Hate Gravity, But Gravity Doesn't

How Could Digital's Collapse Be So Precipitous? It's Because, In Many Ways, Financial Performance Data Is Misleading. As You Move Up To The Top Of The Market, You're Getting Rid Of The Less Profitable Products At The Low End And Adding Business With More Attractive Margins At The High End. The Rate Of Unit Volume Growth Might Be Tapering Off As You Pursue These Smaller Markets, But Your Margins Actually Look Better. So Wall Street Rewards Your Stock Price Until You Hit The Ceiling.

In A Large Successful Company Where Your Power Base As Ceo Isn't All That Secure, It's Hard For A Ceo To Pursue A Truly Disruptive Strategy.

Purpose Must Be Deliberately Conceived And Chosen, And Then Pursued.

Regulatory Fiat Cannot Create A Market At A Technologically Interdependent Interface. And By The Same Token, Regulation And So-called Monopoly Power Rarely Prevail At Modular Interfaces Between Stages Of Value-added Technology.

You Can't Find Returns In Investments You Haven't Made.