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Companies can't "learn not to overextend" for things this rare. If they spend a bunch of resources making sure they can weather sufficiently infrequent storms,
by dllthomas 7y ago
Companies can't "learn not to overextend" for things this rare. If they spend a bunch of resources making sure they can weather sufficiently infrequent storms, they'll be out competed in the shorter term by companies that refuse to.
If we need companies to prepare for this kind of thing, we need to somehow test their readiness more frequently.
- jonlucc 7y agoMore frequently than every 10 years?
- dllthomas 7y agoI don't recall multiple month suspension of broad categories of business in the last 20 years. But yes, probably even more frequently than every 10 years - it's too easy to cut corners, so someone will, and the businesses behaving "correctly" need to compete against that. That's if we want companies to be prepared for this.
- deleted 7y ago[deleted]
- Ericson2314 7y agoCompanies should just plan on failing, and everyone moves on to the next thing. Not everything has to last for ever.
- dllthomas 7y agoYeah, my point was just that "make them hurt so they learn" doesn't really make sense here. There may be plenty of reasons to allow companies to fail, in particular instances or in general.