Abstract
[I]f history is a guide, no more than a third of today's major corporations will survive in an economically important way over the next twenty‐five years. Those that do not survive will die a Hindu death of transformation, as they are acquired or merged with part of a larger, stronger organization…. The demise of these companies will come from a lack of competitive adaptiveness. To be blunt, most of these companies will die or be bought out and absorbed because they are too damn slow to keep pace with change in the market. By 2020, more than three‐quarters of the S&P 500 will consist of companies we don't know today—new companies drawn into the maelstrom of economic activity from the periphery, springing from insights unrecognized today.
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