A Quote by Charlie Munger

The perfect example of Darwinism is what technology has done to businesses. — © Charlie Munger
The perfect example of Darwinism is what technology has done to businesses.
The key thing for all businesses, and especially of course technology businesses or businesses that employ technology as a key kind of strategic advantage, is you always have to be investing in the future.
Each business is a victim of Digital Darwinism, the evolution of consumer behavior when society and technology evolve faster than the ability to exploit it. Digital Darwinism does not discriminate. Every business is threatened.
Mobile is the perfect example of what is enabling economic growth in the technology sector.
Businesses which were slow to recognize the power of the Internet in the mid '90s were quickly left behind. For example, Blockbuster failed to innovate with streaming technology and filed for Chapter 11 bankruptcy in 2010.
While everyone would love to have that perfect portfolio of stocks that can be bought and held forever, it usually does not work out that way. Markets, technology, and businesses change too quickly to put portfolios on autopilot.
There is a science to managing high tech businesses, and it needs to be respected. One of them is that in technology businesses, leadership is temporary. It's constantly recycling. So the asset has limited lifetime.
People generally think of technology simply as a spur to start new businesses. But the Internet has also made it possible for more businesses to compete for any given opportunity.
I got to get the right people in the right job. Because a lot of costs can be taken out in the context of your administration without the legislature.For example, using technology to do more with less. Using technology to fight fraud. Reorganizing and streamlining can be done within the context of the administration.
I got to get the right people in the right job. Because a lot of costs can be taken out in the context of your administration without the legislature. For example, using technology to do more with less. Using technology to fight fraud. Reorganizing and streamlining can be done within the context of the administration.
Darwinian evolution is slow and gradual, step by step. Such an evolution can explain micro-evolution but not macro-evolution. For example, how did the eye evolve? The idea behind Darwinism is that organisms adapt, and that nature selects only those genetic changes which are the mutations that serve a good purpose for adaptation. So taken this way, the eye cannot develop gradually because one-thousandth or one-millionth of an eye would be of no value for survival. So generally this question rules out Darwinism as an adequate theory for macro-evolution.
Throughout his last half-dozen books, for example, Arthur Koestler has been conducting a campaign against his own misunderstanding of Darwinism. He hopes to find some ordering force, constraining evolution to certain directions and overriding the influence of natural selection. [...] Darwinism is not the theory of capricious change that Koestler imagines. Random variation may be the raw material of change, but natural selection builds good design by rejecting most variants while accepting and accumulating the few that improve adaptation to local environments.
Banks hold deposits and savings entrusted to them by individuals, by businesses, by governments and by central banks. They put that money to work, helping people to buy homes, for example, or lending to businesses to invest in expansion.
Darwinism is still very much alive, utterly dominating biology. Despite the fact that no one has ever been able to prove the creation of a single distinct species by Darwinist means, Darwinism dominates the academy and the media.
You can fix things with digital technology and there's a temptation to fix everything or make it perfect and what you're losing there is the human performance that may not be perfect but there may be magic in it. You can make it perfect but music doesn't sound good perfect for some reason.
We targeted five industries for growth, industries where we have natural advantages in North Dakota: value-added agriculture, advanced manufacturing, technology-based businesses, energy and tourism. We worked very hard to grow all those businesses, and that's what's happening.
Technology evolves continuously with solutions getting richer. For example, many of the earlier e-commerce ventures failed because of weak technology infrastructure.
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