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Then Wang…now FAAANG…always be in the winning Gang…😝
I’ll show myself out…
Chief
Don't know wtf Wang Computers or Digital Equipment are, but I wouldn't mind working for any of the other brands, even today.
Wang, Digital Equipment, Data General, Honeywell, and others were mini-computer manufacturers that thrived from around the mid-1960s through the mid-1980s. They were eventually “disrupted” in the Clayton Christensen definition of that term by the PC. I highly recommend a book called The Soul of a New Machine by Tracy Kidder. It’s a nonfiction account of a Data General team designing and building its next generation minicomputer. It won the National Book Award and Pulitzer Prize for non-fiction.
Love your job but don't get attached to your company/organisation.
-APJ
Well the business models are pretty different this time around..
Chief
Great perspective OP
One thing that is always changing is technology.
Technology companies regardless of how big and awesome they seem they will always either be replaced by the next hip thing or mature into giant slow orgs
@Senior Solutions Architect: Thats a good lesson on history repeating itself. However, never before in the history of mankind are 5 firms sitting on market values bigger than most other country GDPs, its not so easily comparable. The amount of cash these firms can pour into research, lobbying and killing the competition is what makes me very skeptical about them vanishing like older names.
This is a bit like real life monopoly, it is almost impossible to lose when you have a whole bunch of properties that you keep collecting rent from others on (and making them poorer). Only thing that can tangibly reduce their power (even then not kill them), is political regulation.
Look at what Tim Cook did with Goldman and the other banks. Bankers literally bent over backwards to pay Apple for apple pay, only to see Apple partner up with Goldman for their own credit card, and screw over Goldman in the process. That is the power of $190b cash on your balance sheet. When you are the big bully in the prison yard, everyone wants to give you their lunch money.
It will be very interesting to see how the next 10-15 years pan out. Also, not all firms from that time vanished, some did become phenomenal successes like Apple did. Bottomline, dont cherrypick poorly run businesses that lacked innovation with some of the most innovative companies in the world today. Dont assume they will let their competitive advantage slip..
@McKinsey - If your point is about the hype, i do agree. Does not mean MSFT isnt able to retain talent and innovate. OP talked about layoffs, and I disagree that majority of faang will have large scale layoffs anytime soon. Also, you are assuming none of these firms learnt anything from past firms mistakes. Also, TikTok would not have replaced Instagram coz they treat their people shittily, bot coz they are from China.
I’ll be milking them and then retire before it matters :)
Chief
That said, I think this is the best you can do - get your bag, approach this whole thing with open eyes, and never drink the Kool aid.