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Eventually, all companies are replaced.

I think if companies start reinventing themselves and focus on the customer experience more, they will win out in the end.

You've got to keep reinventing. You'll have new competitors. You'll have new customers all around you.

Anytime there is a new, interesting space that comes along, there are a bunch of companies that enter the market.

Many companies don't exist after 25 years. It's a rarity. Or if they do exist, they're like IBM, with a totally changing personality.

Companies that have been built and operated for a long time are the most successful companies.

I think that companies always become complacent, over time. Or most companies, that is.

The world is moving, and a company that contents itself with present accomplishments soon falls behind.

You cannot have companies where many of the largest ones lose money indefinitely without someone finally waving the white flag, and IBM is the most recent example of that.

Tech is a funny industry; I don't think there is any other industry on the planet that reinvents itself every 10-12 years.