Industry is extremely slow in readjusting itself to the manufacture of modern consumer goods.
Sentiment: NEGATIVE
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.
Markets have built in inefficiencies, serious inefficiencies which are well known.
The rate of change is not going to slow down anytime soon. If anything, competition in most industries will probably speed up even more in the next few decades.
Production chains, how consumers can drive change: all these things may seem at odds with fashion, but arguably, they're not.
The great menace to the life of an industry is industrial self-complacency.
Taken as a whole, consumer technologies have made startling advances, but they still are not as easy to use as they should be.
People need patience. It takes time to build a brand.
One of the things that launched the strength in biotech is when the pharmaceutical industry itself got a little slow.
Innovation is moving at a scarily fast pace.
The speed at which technology evolves affects everyone; we repeatedly hear that constant innovation is overwhelming for consumers, who struggle to keep pace.