1970s: “IBM is unbeatable” 1990s: “Microsoft is unbeatable” 2010s: “GAFA are unbeatable” The cycle between tech generations takes long enough that people forget there is a cycle.
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What's really remarkable is that IBM is still a $110B company and Microsoft is still one of the main tech giants...
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Strong leadership also affects how dynamic a company can become to adapt to challenges. Today’s Microsoft bears little resemblance to the Microsoft a decade ago.
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Business software platforms can be very sticky because they run critical systems that are very stable and no-one wants to risk migrating them. What's gradually killing IBM or Oracle is that there's no new customers and over time, the current ones go out of business.
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Also, Microsoft still matter a great deal in business computing. They may be less important in terms of browsers, desktops etc, but they're still huge for corporate data processing and so forth.
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