Market Evolution Quotes

The perennial gale of creative destruction

You know what term you don't hear anymore? Arbitrage. The markets have gotten too efficient.

Every market is in transition.

Look back to the old days: people bought an MS DOS machine and struggled with it for weeks to bring it up to speed. Then Apple created Macintosh, struggled a bit with it, but eventually succeeded. Then it went into other businesses. If your company truly wants to change the world, it would make these problems go away for customers.

This is a fantastic time to be entering the business world, because business is going to change more in the next 10 years than it has in the last 50.

India for sure is a mobile-first country. But I don't think it will be a mobile-only country for all time. An emerging market will have more computing in their lives, not less computing, as there is more GDP and there is more need. As they grow, they will also want computers that grow from their phone.

The Internet is disrupting every media industry...people can complain about that, but complaining is not a strategy. And Amazon is not happening to book selling, the future is happening to book selling.

It's hard to find ideas that aren't picked over and harder to get real returns and differentiate yourself. We are entering a new environment. The days of big returns are gone.

These two opposed forms of social organization, the modern state and the market, have evolved together through recent centuries, and their mutual interactions have become increasingly crucial to the character and dynamics of international relations in our world.

The only big companies that succeed will be those that obsolete their own products before somebody else does.

The adaptive markets hypothesis says that all economic institutions, like our own species, develop and change over time, depending on the population of investors that are engaged with them.

In 1991, if someone came in with a $1 million budget for a boutique, I would have fainted. Nobody spent even half that. But now, the bar has risen very high.

You also really want to take the time to think about how the market is going to evolve.You need a market that's going to be big in 10 years.

I think we've been an agent for change, everywhere, and I think change frightens people. They're going nicely in what seems like a settled industry, and someone comes in and says "I can do this better. It doesn't matter how nice that other one is." That's one of the distinguishing points of our acquisitions.

There used to be corporations that produced products. Now there are just banks that produce deals, hedge-fund-driven banks and derivatives and those things.

I do believe it is important to be future-ready with a portfolio to be able to deal with however the market evolves. This is better than just forecasting accurately but in having the weapons ready to deal with the uncertainties.

Innovation is the fuel for growth. When a company runs out of innovation, it runs out of growth.

You either disrupt your own company or someone else will.

Without competition we would be clinging to the clumsy antiquated processes of farming and manufacture and the methods of business of long ago, and the twentieth would be no further advanced than the eighteenth century.

As the technology matures, it becomes less and less relevant. The technology is taken for granted. Now, new customers enter the marketplace, customers who are not captivated by technology, but who instead want reliability, convenience, no fuss or bother, and low cost.

The pace of change and the threat of disruption creates tremendous opportunities.

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.

The thing about innovation in financial markets is they're always building on what has come before. It's a natural process.

Most investors are obsessed with the market size today and they don't think about how the market is going to evolve.

Go where your customers take you! For example, did you know that Sony's first product was a rice cooker? Since abandoning the rice cooker, it has merely managed to become the world's biggest consumer electronics company.