My answer is below.
This was a fun article I read on MSN a couple of days ago. I used 30 of the 32 products in this list or 93.8 percent. In fact, I still know how to use every one of the 30 products.
It is a fascinating list. So many of the items were cutting edge to me when I first used one. Examples are the fax machine, pager, answering machine, calculator watch, and GPS devices.
It was 1986 when my office got its first fax machine. I worked for the Fort Worth Chamber of Commerce and the address was 700 Throckmorton. What an amazing machine. You could send a document any where in the world that had a fax machine to receive it. You could tell how good the other location's fax and phone line was by the speed your fax moved paper through the feeder.
My calculator watch was a gift from my dad. It was silver, thick, and heavy. It also had a game, something like space invaders.
The answering machine and pager meant you did not have to stay in an office or at home to get a call. If you did you could call the person back.
Finally, the GPS device. I used my first on in 2003 on a business call trip in New York City and New Jersey. It cost and extra $25 per day and were only available on a Jaguar and Volvo sedan. But it was vital to me. Trying to follow a map and drive in that part of the U.S. and an unfamiliar area to me, was impossible. The GPS was like having my wife next to me and giving me directions. The GPS had one advantage, it did not raise its voice when I made the wrong turn. It simply said "recalculating".
Some of the obsolete items were immensely unique. One I miss, the old yellow pages. What a great way to find a product or service.
It was a thrill to use most of these on the list. For example, I love the sound of a typewriter when in use. And note the difference between a manual (what I learned to type on) and an electric typewriter.
The old rotary phones had a very unique sound as you dialed a number. In fact, who remembers who you gave your phone number to some one else. It was letters of the alphabet for the first two and numbers for the rest. As in my phone number was "Mutual 45007." This translates into 684-5507.
Now, I wonder what is next.
Our homes and businesses are full of obsolete items. This will be a growing list. It is fun to look at what is considered obsolete and what has replaced it. I think the smart phone in some form or fashion replaced 26 of the items on the list.
Link to the website:
https://www.msn.com/en-us/news/finance-companies/32-products-you-never-thought-would-be-obsolete/ss-BBMR0F8
My answer:
No. In fact, consider me a historian. I know how to use an item you may find in an antique store (assuming these stores still exist). Many of the people I know much younger than me will not even know what any of those items are called.
Tuesday, October 2, 2018
Monday, October 1, 2018
A Riddle: What Creates and Destroys at the Same Time?
If you are a Star Trek movie fan (the James. T. Kirk era) the answer is Genesis. At least that is what Dr. McCoy said in Star Trek: The Wrath of Khan. However, for this post the answer is change.
This article (link is below) caught my attention. It is an article about 49 companies Amazon may drive out of business. My thanks to Kiplinger for this insightful analysis. I went through the list and thought about how I knew and 26 of the firms on the following list. That represents 53.1 percent of the companies.
That is mind boggling to me. So in my life, 53 percent of services I used or stores I patronized could cease to exist. It is so hard to believe.
I think it is yet another example (or 49 to be exact) of the pace of change and that it is constant. It makes no difference if you like it or not, it will happen. If you accept that change is inevitable (and I do), then you should also consider not all change is good. How many times have you seen people change something about themselves? I leave this to your imagination.
Perhaps equally important, change creates and destroys. By this I mean change brings about innovation and progress, and leaves behind destruction and legacies.
In economic development the change that so many store front businesses may close or cease operations, we must ask what is next. Some localities are innovative with excess space, some developers buy an abandoned mall and convert it to new use or uses, and some dynamic regions fill the space quickly with new tenants. And finally, some space just stays vacant and eventually decays.
Along the same vein, thousands of jobs will be eliminated, but not the people. How can we better find gainful employment for these individuals? Are our training programs aligned with the current economy?
As you can see, I do not have any answers. I do this, we must accept change. Indeed we must embrace it. But we must also look for creative ways to manage change and the destruction that is often left in its wake.
The list of companies:
https://www.kiplinger.com/slideshow/investing/T052-S001-49-companies-amazon-could-destroy-1-already-has/index.html
This article (link is below) caught my attention. It is an article about 49 companies Amazon may drive out of business. My thanks to Kiplinger for this insightful analysis. I went through the list and thought about how I knew and 26 of the firms on the following list. That represents 53.1 percent of the companies.
That is mind boggling to me. So in my life, 53 percent of services I used or stores I patronized could cease to exist. It is so hard to believe.
I think it is yet another example (or 49 to be exact) of the pace of change and that it is constant. It makes no difference if you like it or not, it will happen. If you accept that change is inevitable (and I do), then you should also consider not all change is good. How many times have you seen people change something about themselves? I leave this to your imagination.
Perhaps equally important, change creates and destroys. By this I mean change brings about innovation and progress, and leaves behind destruction and legacies.
In economic development the change that so many store front businesses may close or cease operations, we must ask what is next. Some localities are innovative with excess space, some developers buy an abandoned mall and convert it to new use or uses, and some dynamic regions fill the space quickly with new tenants. And finally, some space just stays vacant and eventually decays.
Along the same vein, thousands of jobs will be eliminated, but not the people. How can we better find gainful employment for these individuals? Are our training programs aligned with the current economy?
As you can see, I do not have any answers. I do this, we must accept change. Indeed we must embrace it. But we must also look for creative ways to manage change and the destruction that is often left in its wake.
The list of companies:
https://www.kiplinger.com/slideshow/investing/T052-S001-49-companies-amazon-could-destroy-1-already-has/index.html
Friday, August 10, 2018
What Drives an Individual to be the Best?
What Drives an Individual to be the Best? I ask that question frequently. It is the difference between a job and a profession. I think I can sum it up in one word and one example.
The word is passion.
The example is on Sunday night are you dreading Monday or looking forward to Monday?
Today I read an excellent article in Bloomberg BusinessWeek by Ted Genoways. It is titled "Patrón Made Tequila Top-Shelf. Will Bacardi Dilute It?"
It is about Master distiller Francisco Alcaraz. This is a long article and the pics are great. I draw your attention to one paragraph in the article about Mr. Alcaraz:
"After two years, Núñez got him a job as production manager at El Viejito. Alcaraz set up a cot in the still room and slept there so he could learn the sounds of the copper pots and coils through every stage of distillation. "
Think about that for a moment. Do you know anyone who would do that? I know very few people who would.
But I do know people who work longer hours. More importantly these individuals undertake activities off hours that demonstrate I am in a profession as opposed to a job. For example, I read several business magazines each week. And I watch business shows. It is part of my study and continued education in my career. I am sure those of you who are in a profession (as opposed to a job) take similar actions. In other words, we are professionals rather than employees.
The article is a very good read. If you like Tequila, then it is a double winner.
https://www.bloomberg.com/news/features/2018-07-31/patr-n-made-tequila-top-shelf-will-bacardi-dilute-it
The word is passion.
The example is on Sunday night are you dreading Monday or looking forward to Monday?
Today I read an excellent article in Bloomberg BusinessWeek by Ted Genoways. It is titled "Patrón Made Tequila Top-Shelf. Will Bacardi Dilute It?"
It is about Master distiller Francisco Alcaraz. This is a long article and the pics are great. I draw your attention to one paragraph in the article about Mr. Alcaraz:
"After two years, Núñez got him a job as production manager at El Viejito. Alcaraz set up a cot in the still room and slept there so he could learn the sounds of the copper pots and coils through every stage of distillation. "
Think about that for a moment. Do you know anyone who would do that? I know very few people who would.
But I do know people who work longer hours. More importantly these individuals undertake activities off hours that demonstrate I am in a profession as opposed to a job. For example, I read several business magazines each week. And I watch business shows. It is part of my study and continued education in my career. I am sure those of you who are in a profession (as opposed to a job) take similar actions. In other words, we are professionals rather than employees.
The article is a very good read. If you like Tequila, then it is a double winner.
https://www.bloomberg.com/news/features/2018-07-31/patr-n-made-tequila-top-shelf-will-bacardi-dilute-it
Sunday, June 10, 2018
It is Just a Plaque...Yet
I just finished my term as chairman of the Council for Community and Economic Research (C2ER). C2ER is the national association of researchers in economic development and Labor Market Information (LMI) staff of several states. C2ER has over 1,200 members in 49 states and U.S. territories.
For my service I received a plaque. A picture is at the end of the post.
This post is not about my tenure or the accomplishments of the organization during my term. Rather, it is about how different it is to chair an association. Please understand, I serve or served on several non-profit boards over my career. Most are professional, a couple are personal. However, I have never served as chair, until now.
A word about non-profit and association boards. Generally you have two types. One is staff driven. By this I mean a professional staff usually runs the show. This is generally because the organization's goals, objectives, and metrics are predetermined. You have strict reporting criteria, and the programs are detailed and regimented. The other type is board driven. The board works with a lean and professional staff and the board plays a major role in setting goals, objectives, metrics, and programs.
C2ER is board driven. The association has a highly professional staff. It produces products and offers unique services. An example is the Cost of Living Index (COLI). We lobby for government programs that provide data for public consumption. If you want to know more, check out the website:
http://www.c2er.org
When you are a board member and/or committee chair, you spend considerable time on that specific duty and responsibility. The support of other board members and the professional staff makes it much easier.
For example, when I was treasurer, I would spend time reviewing the financials. Then I would have a lengthy conversation with the appropriate staff to answer any questions I may have. My goal was to offer the board a succinct and brief overview of the finances and anticipate any questions. I also served on a committee, but on this matter, I backed up the committee chair. Finally, I read the entire board package and actively participated on conference calls. It took time, but the organization was and is well worth it.
One year ago I was elected chairman. As chairman your main responsibilities are to run the quarterly board meetings, oversee the annual meeting, manage the annual retreat, and track the progress of each priority program. The real value to me was for the first time I could see all of the activities and efforts of the association as a whole, the board members, and the membership. It was eye opening. You know how you can be so close to the trees you cannot see the forest. But as chair, I got to see the trees and the forest. In a nutshell, this is a strong and vibrant organization that adheres to key principles and revises priorities in a churn environment.
I will hang up my plaque on a wall in my office. To many who will see it, I suspect that they will think it is one of many they see on other people's walls. That it is a gift of time spent in an association and nothing more.
Now I look at plaques like this far differently. You chose to offer your time and expertise to improve a profession and an organization. You worked with an extraordinary group of unique individuals, all moving (more or less) toward shared goals and objectives. You participated in lively discussions where you heard very different perspectives that made you think about your stance. Your interactions with staff reinforced your conclusion that these are dedicated and smart people. Finally, you tried to leave an association and profession slightly better than you found it. For that I am very grateful to the C2ER membership for allowing me to serve as chair.
For my service I received a plaque. A picture is at the end of the post.
This post is not about my tenure or the accomplishments of the organization during my term. Rather, it is about how different it is to chair an association. Please understand, I serve or served on several non-profit boards over my career. Most are professional, a couple are personal. However, I have never served as chair, until now.
A word about non-profit and association boards. Generally you have two types. One is staff driven. By this I mean a professional staff usually runs the show. This is generally because the organization's goals, objectives, and metrics are predetermined. You have strict reporting criteria, and the programs are detailed and regimented. The other type is board driven. The board works with a lean and professional staff and the board plays a major role in setting goals, objectives, metrics, and programs.
C2ER is board driven. The association has a highly professional staff. It produces products and offers unique services. An example is the Cost of Living Index (COLI). We lobby for government programs that provide data for public consumption. If you want to know more, check out the website:
http://www.c2er.org
When you are a board member and/or committee chair, you spend considerable time on that specific duty and responsibility. The support of other board members and the professional staff makes it much easier.
For example, when I was treasurer, I would spend time reviewing the financials. Then I would have a lengthy conversation with the appropriate staff to answer any questions I may have. My goal was to offer the board a succinct and brief overview of the finances and anticipate any questions. I also served on a committee, but on this matter, I backed up the committee chair. Finally, I read the entire board package and actively participated on conference calls. It took time, but the organization was and is well worth it.
One year ago I was elected chairman. As chairman your main responsibilities are to run the quarterly board meetings, oversee the annual meeting, manage the annual retreat, and track the progress of each priority program. The real value to me was for the first time I could see all of the activities and efforts of the association as a whole, the board members, and the membership. It was eye opening. You know how you can be so close to the trees you cannot see the forest. But as chair, I got to see the trees and the forest. In a nutshell, this is a strong and vibrant organization that adheres to key principles and revises priorities in a churn environment.
I will hang up my plaque on a wall in my office. To many who will see it, I suspect that they will think it is one of many they see on other people's walls. That it is a gift of time spent in an association and nothing more.
Now I look at plaques like this far differently. You chose to offer your time and expertise to improve a profession and an organization. You worked with an extraordinary group of unique individuals, all moving (more or less) toward shared goals and objectives. You participated in lively discussions where you heard very different perspectives that made you think about your stance. Your interactions with staff reinforced your conclusion that these are dedicated and smart people. Finally, you tried to leave an association and profession slightly better than you found it. For that I am very grateful to the C2ER membership for allowing me to serve as chair.
Monday, May 28, 2018
Meeting Tom Wolfe
A highly accomplished author recently died. His name is Tom Wolfe. Be advised, this is not an obituary in the usual sense.
First, I read Bonfire of the Vanities. It was an outstanding book. The characters were so real. Mr. Wolfe also wrote non-fiction. You know his most famous books so I will skip that.
No, this one is different. I met Mr. Wolfe in 1999. I just started at the SC Department of Commerce (DOC) and a Forbes event was scheduled for Charleston. Two DOC staff were able to attend and I was one. I almost did not get to go. Mr. Wolfe served as the dinner speaker and the two day meeting was filled with CEO oriented sessions. The venue was Charleston Place. I was looking forward to hearing Mr. Wolfe speak.
I decided to hit the gym before the evening event. I open the door and I see Mr. Wolfe on a treadmill. No one else is in the gym. So I take treadmill next to him, introduce myself, and say I am looking forward to his speech tonight.
Now this was before iPods and smart phones. The only distraction was music from a console.
He was very receptive. At this point is it Tom, not Mr. Wolfe. We talk for about 20 minutes. He loved Charleston for its charm (he was born in Richmond, VA). He talked about his writing and we discussed politics. Since he lived in New York City i asked him about Ms. Clinton's prospective candidacy for a NY senate seat. He did not think she could win.
His engagement and kindness stand out to me. He could have left, he could have said he wanted to concentrate on an issue, but he did not. From my perspective, I had a wonderful conversation with an accomplished author of fiction and non-fiction works. He was a true gentleman.
Technology and Innovation Driving Economic Growth
The article this post is about appeared in Fortune magazine. The title is "Lone Star Rising." It is about the re surging oil industry in my home region of Midland, Texas and the Permian Basin. This comeback is due in large part to new technology that allows the extraction of oil in a cost effective way. The impact starts at the local level and continues through to an international level.
I am reminded of a parallel I recently read. Back in the 70s I recall reading that the world would run out of food to accommodate future population growth. If you looked at the current food production back then and imposed a graph of world population growth on top of it, you might come to the same conclusion. What was not included in any analysis and likely could not be factored in was technology improvements and innovation in food production and preservation. But that is what we saw, substantial increases in food production using technology and innovation in grains, equipment, fertilizer, etc. resulting in a higher yield per acre. Yes, it has positive and negative impacts. Examples are the cost of equipment increased, the optimal size of a farm in terms of acreage went up too. This was a factor in the purchasing of family farms by corporations and partnerships.
Another example is rubber. In World War II one product highly valued was rubber. It was an important natural resource. Before World War II, rubber was largely controlled by the Axis powers. During the first part of World War II rubber drives in the U.S. were very popular and very necessary. However, in 1940 a scientist with B.F. Goodrich invented a synthetic rubber. This helped the U.S. manufacture rubber for all the products needed to fight a war. Think jeep and other vehicle tires for one. After the war, the U.S. catapulted in the production of rubber and impacted the world rubber trade and sourcing of the raw material. Consider the cities built on rubber and tire production and jobs created in this industry. An example of a city is Akron. And an industry that experienced phenomenal churn and growth based in part on these and future innovations include these U.S. based companies - B.F. Goodrich, Goodyear, General Tire, and Uniroyal.
In almost every industry you can name, straight line graphs of production and population growth can indeed imply severe shortages in the future. However, we cannot easily predict the impact of technology and innovation in increasing the volume of products. I realize this is somewhat simplistic, but one I think rings true in a broad sense. We seem to consistently underestimate corporate R&D to solve so many of the challenges we face.
A bit of history of the oil industry in West Texas. When I lived in Midland, we read that the world is running out of oil that we can feasibly drill. And we were importing well over 50 percent of the oil consumed in the U.S. on a daily basis. That was a couple of decades ago. In addition, when I was growing up in Midland I learned about the oil industry and the factors that positively and negatively impact the business. Perhaps among the most important, the price of a barrel of oil in large part determines where and how you extract oil from the earth. To put it another way, the cost of getting one barrel of oil out the earth is directly related to the price of a barrel of oil on the market. Oil that can be pulled from the earth in a cost effective means is called recoverable.
Today. The U.S., led by the Permian Basin, produces more oil than anyone thought possible. The U.S. exports oil. Very few people ever thought that was possible. According to the article, over 30 billion (yes billion) barrels of oil have been drilled from the Permian Basin since 1923. How much left in the ground is recoverable (it can be extracted in a cost efficient means)? Estimates are between 60 to 90 billion (yes, again billion) barrels.
The Permian Basin has substantial oil reserves, but until recently it was not cost effective to extract the oil. Two innovations changed that. The first one was horizontal drilling. The second one is fracking. As a result, production in the U.S. climbed and in the Permian Basin surged. The article does on excellent job showing the growth of drilling.
The article points out the positive and negative impacts of these innovations. As you experience growth, sometimes demands in construction outstrips infrastructure development. By infrastructure I mean roads, schools, housing, etc. West Texas, parts of North Dakota and other states witnessed this. Costs increase (wait till you read about hotel rooms). You may see an increase in new business formation with may not directly related to the oil business and see far more disposal income from residents.
As I read the article I took great pride in my hometown and the region. These are good people, hearty people. Midland is a wonderful city to raise a family. It offers so much. The entrepreneurial spirit is alive and well. Advances in drilling technology breathed new life into the area.
In economic development we constantly read about cities and regions struggling with declining employment, loss of jobs, and aging population. Or cities that are highly dependent on one industry. Midland and the Permian Basin is an excellent example of how this can be changed. However, I do note that it is driven by technology and innovation applied to a natural resource. Frankly, I think this is not easily replicated. Other struggling locations may not be as fortunate to have a natural resource vital to U.S. interests. Even with this, a good goal for every economic developer should be to diversify the economy.
I tried to offer a few of the high points of the article. It is long, but definitely worth the read. The graphics and pics are outstanding. I can remember when Midland experienced decline in jobs and negative population growth. Major oil companies cut back on local employees or simply shut down all operations in the city. Now, it is coming back. Unlike previous surges, this one maybe more long term. Note the commitment of Exxon Mobil and Royal Dutch Shell. I hope it is.
Link to the article: http://fortune.com/longform/permian-basin-oil-fortune-500/
I am reminded of a parallel I recently read. Back in the 70s I recall reading that the world would run out of food to accommodate future population growth. If you looked at the current food production back then and imposed a graph of world population growth on top of it, you might come to the same conclusion. What was not included in any analysis and likely could not be factored in was technology improvements and innovation in food production and preservation. But that is what we saw, substantial increases in food production using technology and innovation in grains, equipment, fertilizer, etc. resulting in a higher yield per acre. Yes, it has positive and negative impacts. Examples are the cost of equipment increased, the optimal size of a farm in terms of acreage went up too. This was a factor in the purchasing of family farms by corporations and partnerships.
Another example is rubber. In World War II one product highly valued was rubber. It was an important natural resource. Before World War II, rubber was largely controlled by the Axis powers. During the first part of World War II rubber drives in the U.S. were very popular and very necessary. However, in 1940 a scientist with B.F. Goodrich invented a synthetic rubber. This helped the U.S. manufacture rubber for all the products needed to fight a war. Think jeep and other vehicle tires for one. After the war, the U.S. catapulted in the production of rubber and impacted the world rubber trade and sourcing of the raw material. Consider the cities built on rubber and tire production and jobs created in this industry. An example of a city is Akron. And an industry that experienced phenomenal churn and growth based in part on these and future innovations include these U.S. based companies - B.F. Goodrich, Goodyear, General Tire, and Uniroyal.
In almost every industry you can name, straight line graphs of production and population growth can indeed imply severe shortages in the future. However, we cannot easily predict the impact of technology and innovation in increasing the volume of products. I realize this is somewhat simplistic, but one I think rings true in a broad sense. We seem to consistently underestimate corporate R&D to solve so many of the challenges we face.
A bit of history of the oil industry in West Texas. When I lived in Midland, we read that the world is running out of oil that we can feasibly drill. And we were importing well over 50 percent of the oil consumed in the U.S. on a daily basis. That was a couple of decades ago. In addition, when I was growing up in Midland I learned about the oil industry and the factors that positively and negatively impact the business. Perhaps among the most important, the price of a barrel of oil in large part determines where and how you extract oil from the earth. To put it another way, the cost of getting one barrel of oil out the earth is directly related to the price of a barrel of oil on the market. Oil that can be pulled from the earth in a cost effective means is called recoverable.
Today. The U.S., led by the Permian Basin, produces more oil than anyone thought possible. The U.S. exports oil. Very few people ever thought that was possible. According to the article, over 30 billion (yes billion) barrels of oil have been drilled from the Permian Basin since 1923. How much left in the ground is recoverable (it can be extracted in a cost efficient means)? Estimates are between 60 to 90 billion (yes, again billion) barrels.
The Permian Basin has substantial oil reserves, but until recently it was not cost effective to extract the oil. Two innovations changed that. The first one was horizontal drilling. The second one is fracking. As a result, production in the U.S. climbed and in the Permian Basin surged. The article does on excellent job showing the growth of drilling.
The article points out the positive and negative impacts of these innovations. As you experience growth, sometimes demands in construction outstrips infrastructure development. By infrastructure I mean roads, schools, housing, etc. West Texas, parts of North Dakota and other states witnessed this. Costs increase (wait till you read about hotel rooms). You may see an increase in new business formation with may not directly related to the oil business and see far more disposal income from residents.
As I read the article I took great pride in my hometown and the region. These are good people, hearty people. Midland is a wonderful city to raise a family. It offers so much. The entrepreneurial spirit is alive and well. Advances in drilling technology breathed new life into the area.
In economic development we constantly read about cities and regions struggling with declining employment, loss of jobs, and aging population. Or cities that are highly dependent on one industry. Midland and the Permian Basin is an excellent example of how this can be changed. However, I do note that it is driven by technology and innovation applied to a natural resource. Frankly, I think this is not easily replicated. Other struggling locations may not be as fortunate to have a natural resource vital to U.S. interests. Even with this, a good goal for every economic developer should be to diversify the economy.
I tried to offer a few of the high points of the article. It is long, but definitely worth the read. The graphics and pics are outstanding. I can remember when Midland experienced decline in jobs and negative population growth. Major oil companies cut back on local employees or simply shut down all operations in the city. Now, it is coming back. Unlike previous surges, this one maybe more long term. Note the commitment of Exxon Mobil and Royal Dutch Shell. I hope it is.
Link to the article: http://fortune.com/longform/permian-basin-oil-fortune-500/
Friday, May 25, 2018
Follow the Leader
This article is the ideal way to start a morning. It is about three mainstay retail monoliths forced to follow the lead of a disrupt-er.
The three retail giants are Walmart, Target, and Kroger. The disrupt-er is (you guessed it) Amazon.
The disrupt-er is forcing monumental change in all three companies. The three are buying other companies to catch up with the disrupt-er and they are forced to alter the compensation structure. Finally, all three are trying to find avenues to be the leader as opposed to the follower.
Customer focus is the foundation of disruptive technology. What I find fascinating is Amazon's consistent effort to be the disrupt-er. Even though the company celebrates its 24th anniversary this year and is among the largest firms in the US, it continues with its entrepreneurial attitude and intense customer focus.
I am reminded of the Andy Grove book, Only the Paranoid Survive. In it he says, “Businesses fail either because they leave their customers or because their customer leave them !”
This will be a fascinating story over the next few years and certainly worthy of a a book. For now, this is the article.
https://www.msn.com/en-us/news/finance-companies/walmart-and-target-are-spending-like-crazy-to-challenge-amazon/ar-AAxN9pI
The three retail giants are Walmart, Target, and Kroger. The disrupt-er is (you guessed it) Amazon.
The disrupt-er is forcing monumental change in all three companies. The three are buying other companies to catch up with the disrupt-er and they are forced to alter the compensation structure. Finally, all three are trying to find avenues to be the leader as opposed to the follower.
Customer focus is the foundation of disruptive technology. What I find fascinating is Amazon's consistent effort to be the disrupt-er. Even though the company celebrates its 24th anniversary this year and is among the largest firms in the US, it continues with its entrepreneurial attitude and intense customer focus.
I am reminded of the Andy Grove book, Only the Paranoid Survive. In it he says, “Businesses fail either because they leave their customers or because their customer leave them !”
This will be a fascinating story over the next few years and certainly worthy of a a book. For now, this is the article.
https://www.msn.com/en-us/news/finance-companies/walmart-and-target-are-spending-like-crazy-to-challenge-amazon/ar-AAxN9pI
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