Talent, money, innovation moving off shore
Newsweek has an important short on globalization featuring IBM. My friend Rob Wuebker, a recently PhD specializing in the internationalization of venture capital, pointed out the article. Think about the implications of these three quotes:
The fact that IBM is headquartered in Armonk, New York, matters much less than it did, but it still contributes. The company employs more than 100,000 people in America, close to 30 percent of its workforce, though that is down from 35 percent two years ago.
This is the new world of global business, one in which the U.S. becomes simply a market among markets, and not even the most interesting one. IBM is one of the multinationals that propelled America to the apex of its power, and it is now emblematic of the process of creative destruction pushing America to a new, less dominant, and less comfortable position.
Leave a Comment
Your email address will not be published. All fields are required.