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The dynamics of business today are tough and getting tougher. In 1965, the average company on the S&P 500 could expect a 33-year tenure on the index. By 2026, that’s expected to be 14 years. Or, looked at from another angle, about 250 of the 500 will be gone inside 10 years. The Kodaks, Blockbusters, and Yahoos disappear and are replaced, for a while at least, by the generation of Zoom and the makers of Snapchat and TikTok. Innosight, the company from which I borrow the above scary numbers, calls this Creative Destruction. Your nemesis comes from richly funded startups or internet royalty such as Amazon, Alibaba, and Google. It’s as likely to come from China or India as the US or Europe. Companies rise and fall faster than Icarus and tomorrow’s largest company in the world is the company you haven’t heard of today. To compete, companies must iterate and constantly reinvent themselves.