Earth moves 1 degree in 4 minutes, where over 2 million trades get honoured from discrete distant points across the world, and over $1 billion money is transacted, that’s how dynamic and global businesses have evolved over the years. We often say that the sun rises in the east and sets in the west, but logically does sun change its position or its our position which changes relative to the sun, I think latter is true but very unconvincing to believe, that’s because such things never bothered us. So was the development of businesses over a couple of years. We don’t realize how businesses create a void in our lives and make billions by filling that artificially built demand. To bring things in perspective, did we ever have calorie goals or carbs measures to evaluate our fitness levels, but Fitbit is making millions just by selling bands to give us benchmarks for the same. Having said that, on the flipside there have been many businesses which have improved our lifestyle and enhanced our society.
These two decades have brought about a paradigm shift in all spheres of our life. Where trades were like english auctions deciding a company’s fate( floor trading), now are silently done by algos triggering market rallies, where cars were driven on expensive fuel, now they don’t even call it ‘driven’, because they are ‘technologically guided’ ( driverless cars), where international remittances and payments took days to process, now we have facilities to hedge ourselves of the exchange rate fluctuation. Infact, earlier did we consider the extension of the websites important ( .com or .in or .us), because businesses weren’t that global and now companies have different servers for different country specific websites. There is one common thread that ties them all, that is TECHNOLOGY, the oxygen to all growth and metamorphosis businesses have generated and the growling engine to change.
Businesses become essentials in our lives in a very subtle manner, we today don’t spend a day without using Google, Uber, Microsoft, and perhaps would be disrespecting to name some here. Internet was there years before Google was founded, but its accessibility was limited, which Google recognized and shattered boundaries of its access. Although there might have been companies doing business from over a century, but today all the leading companies across the world are in their teenage, again they are all technology driven conglomerates. A person who invested $ 100 in Ford Company decades back, earned less than a person who invested $ 100 in Apple in 1976. It’s because their way of conducting operations is very unique and disruptive.
How astonishing is it that companies like Uber, Google earn profits more than GDP of various countries, where these companies are relatively younger to these countries. It is a sheer instance of things privately managed maneuvering greater profits and value for people than the public administration.
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