Alan Murray at Fortune summarizes a lengthier piece by Geoff Colvin called Why every aspect of your business is about to change. Here is my summary of Murray's summary:
1. You don't need a lot of physical capital. ...
2. Human capital will matter more than ever. ...
3. The nature of employment will change. For the rest of your employees, gig work will grow. ...
4. Winners will win bigger, and the rest will fight harder for the remains. ... McKinsey Global Institute puts it: "tech and tech-enabled firms destroy more value for incumbents than they create for themselves."
5. Corporations will have shorter lives. The average life span of companies in the S&P 500 has already fallen from 61 years in 1958 to 20 years today. It will fall further.
6. Intellectual property knows no natural boundaries.
Fascinating stuff.
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