The great menace to the life of an industry is industrial self-complacency.
Sentiment: NEGATIVE
I think that companies always become complacent, over time. Or most companies, that is.
In an industrial society which confuses work and productivity, the necessity of producing has always been an enemy of the desire to create.
Information from destructive activities going back a hundred years right up until today is being incorporated into the system. And as that happens the underlying framework of industrialism is collapsing and causing disintegration.
Industry is extremely slow in readjusting itself to the manufacture of modern consumer goods.
Industrialization based on machinery, already referred to as a characteristic of our age, is but one aspect of the revolution that is being wrought by technology.
Nearly every country in the world is now becoming industrialized as rapidly as it can.
In short, industrialism is over.
There is failure in every industry; there is failure in every step. It's just that we are working in an industry where everything is just out there; that is why it looks so magnified. But failure is a part of life.
For decades, the pace of technological change in manufacturing has outstripped that in the economy as a whole. And, so, firms - manufacturing firms - have found it easier to continue producing by - with - reducing their workforces.
I think, particularly in our tech industry, this is an industry that has violent innovation and then commoditization, and it's a cycle of innovation/commoditization.