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Why was the company (and many like it) so vulnerable? Many of my friends wear everlane.
by monadic2 7y ago
Why was the company (and many like it) so vulnerable? Many of my friends wear everlane.
- lotsofpulp 7y agoSales of everything non essential are expected to drop drastically.
- monadic2 7y agoWhy don’t they have enough cash on hand to weather a few months of no sales? Why are american businesses so vulnerable to a downturn after two decades of discussing “black swan” events and “antifragility”? I am honestly bewildered.
- lotsofpulp 7y agoBecause a competitor business will instead use that cash to offer a better product and customers will flock to them. If you see a new or renovated hotel next to an old one, which one will you stay in? If an airline keeps flying old planes and the other airlines invest in new, nicer planes, which one will you choose to fly on? We see this story play out on these very Hacker News forum, where the common mantra is businesses that don’t invest in the future, that don’t spend on R&D, that don’t take risks deserve to die out and new businesses that did take risks deserve to take their place.
- monadic2 7y ago> Because a competitor business will instead use that cash to offer a better product and customers will flock to them. Then how come competition doesn’t produce better products?
- lotsofpulp 7y agoIn my experience, products have gotten better. The cars I drive, the hotels I stay in, the internet and devices I use, the planes I fly in, etc.
- monadic2 7y agoI suppose it's a matter of perspective.