When someone takes their existing business and tries to transform it into something else – they fail. In technology that is often the case. Look at Kodak: it was the dominant imaging company in the world. They did fabulously during the great depression, but then wiped out the shareholders because of technological change. — Charlie Munger
Tags: Business, Technology, Great, Charlie Munger, American, Businessman
Mini who’s who:
Charlie Munger : American Businessman
Born: January 1, 1924