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My takeaway from this article is "Big Oil" should have invested their billions in research on renewables, batteries, etc, instead of lawyers and fighting change
by sly010 5y ago
My takeaway from this article is "Big Oil" should have invested their billions in research on renewables, batteries, etc, instead of lawyers and fighting change.
If you have a short-term-great, but long-term-dying business (which is all business), it's really hard to make the decision to invest in alternatives that - if successful - will invalidate your current business. You are basically investing against yourself. On the other hand if you don't do it, someone else will. This is the innovators dilemma.
- qeternity 5y agoThey've generated a few trillion dollars in profit over the past few decades, and now they have tens of billions at their disposal to invest in R&D now that there's a market beginning to demand it. From an innovators dilemma perspective, if they can pivot, they will have nailed the balance perfectly (granted, we may have fucked the planet in the process, but that's just an outcome of a demand function).