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Article #620194Re: Important US technology companies sold to foreigners (was: Xerox company sold)
From: hanc...
Date: Mon, 05 Feb 2018 21:32
Date: Mon, 05 Feb 2018 21:32
24 lines
2874 bytes
2874 bytes
On Saturday, February 3, 2018 at 9:30:22 PM UTC-5, Charlie Gibbs wrote: > > AT&T also wrongly predicted that Western Electric would continue to > > be profitable. It knew at the time [Alvin Von Auw] that customer > > ownership of sets and wiring was no long cost-effective. However, > > it probably could not have predicted that W/E's business model of > > building equipment strong enough to withstand a nuke attack was no > > longer working, and consumers wanted cheap equipment, even if it > > meant frequent replacement. That is, consumers would rather have > > a cheap crappy $10 phone replaced every year than a solid durable > > $40 phone lasting for 40 years. > 'zackly. The Economy depends on consumers being stupid. True. But also, the Economy depends on consumers getting bored and wanting new stuff for the sake of being new. The Model T was an excellent car of its day. But consumers were getting bored with it. The competition introduced flashier models. Initially, Henry Ford refused to respond, but his family pushed him to finally come out with the Model A. GM's Alfred Sloan came up with the annual model year, as well as the status climb of different models. Very successful marketing.
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