zlacker

Your competitors will eat your lunch.

>>Walter+(OP)
I don’t see that happening in practice, because the competitors are focusing on the short term as well. Another reason is that it is easy to deceive customers about the relative qualities of a product as long as it is cheaper than the competition. So it’s rather the short-termists that are driving a race to the bottom (or at least to mediocrity).

>>Walter+(OP)
When you have a market for lemons and all competitors aim for "good enough", then it is no longer a business threat.

>>Walter+(OP)
The most successful companies, in my experience, are not successful because they're so much more awesome than everyone else. They are successful primarily because of luck... the luck of having competitors that suck total ass.

Microsoft, for instance... or in more modern times, Tesla.

I wouldn't put Boeing into that category, though -- it took more than just a lack of good competition to accomplish what they did, back in the day.