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on Sep 10, 2013
HP is finished. A series of uninspiring CEOs has had no luck driving the uninspired employees who are toiling on uninspiring products. Time for some Chinese company to buy their patents and bury the rest of the mess.
It's such a sad train wreak to watch. Too many bad decisions the last 8 years or so. I cant even recall all the times they made some announcement that would leave me scratching my head.
I'm just so shocked that they still have freaking Meg whitman as CEO???
It's simply a tough market out there these days. HP still has a third of a million employees cranking out 9 billion in revenue every month. That's a lot of income tax. Yeah, shareholders (myself included) haven't seen a nickel of gain in 15 years, but the same can be said of Microsoft, Verizon, AT&T, Cisco and many others. Of the tech stocks mentioned at the end of the article, only IBM has moved upward this century, barely outperforming junk bonds. The mainstream tech workforce is fortunate that business has kept up with the curve in the face of such widespread commoditization. Maybe there is a shortage of talented management, or just a shortage of innovators, but I more believe that various sectors just have minds of their own as the decades come and go.
Most of this wreckage started with the foibles of Carly Fiorina, who was not even qualified to be a CEO of a tech company. Her education was in art history!
Saw her on CNN a year ago, with a nice new face lift and dye job. She looked thirty years younger! Spending that 30 mil golden parachute wisely!
Like California would have dropped had we elected Carly Fiorina governor.
> I more believe that various sectors just have minds of their own as the decades come and go.
It's hard to innovate on a schedule ... or more accurately, impossible. Virtually every tech company has been a flash in the pan. IBM is much more than a company, and something like MicroSoft stayed around to plague everyone for so long because it limited improvements and maintained a monopoly ... and now Apple is pretty much trying to do the same thing.
We have this killing mythology that what happens in America is due to actions smart people take, but that is not really true, most innovation is luck with the support and backing of good infrastructure, schools, rule of law, etc. When things go wrong we cannot really see what the problem is because of our preconceived notions.
"various sectors just have minds of their own as the decades come and go"
Totally agree. The innovation to maturity interval seems to be 40-50 years.
In 1900 the automobile was basically a tinkerer's toy. By 1940 it was an ubiquitous necessity and its last major innovation--the automatic transmission--had been achieved.
The Wright Brothers demonstrated powered flight in 1903. Forty years later the modern airplane appeared in the form of the Lockheed Constellation and the B-29. That maturation finished ten years later with the Comet jetliner, with the DC-8 and 707 in hot pursuit, and aircraft development has been only incremental since. In fact, the C-130, which also began service at that time, remains the definitive all-purpose cargo airplane.
The microcomputer appeared as a hobbyist toy in 1975. Forty years later, processors had hit their speed limit, the application software that makes computers useful is fully mature, and everything is linked via the internet. Tech development today is all about incremental performance improvements and personal gadgetry; there are no innovations on the scale of the Intel 8080 or VisiCalc, or anything near.
And consider biotech -- the correct structure of DNA was proposed in 1953. From there it took 50 years to sort out the human genome. Various estimates say the cost per person for a full sequencing has dropped from billions to about $5K in the last decade. Clever people.
Good Riddance HP! Sink to the bottom of the ocean where you and your lousy products and service belong.
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