HN user
Kinda.
The answer is simpler on the surface: focus.
Generally the problem is the larger the firm’s operations, the harder it is to focus.
Apple is the only firm that has done well on this consistently and doesn’t have a huge grave yard of failures to show for it.
This talk of tokens is wasteful.
Ultimately the spend on tokens has to benefit the firm financially or it won’t continue spending on it.
What outcomes though? The ones I’ve seen posted are still nonsensical metrics that a publicly traded firm absolutely doesn’t care about.
It wants to see faster R&D, higher revenues from existing assets, greater operating margins, higher sales to invested capital ratio and so on…
The best way to measure that for a software firm is up-time of services, usage and project completion duration
It’s not collapsing anything, rather its calling into question the true value of all economic activities.
Which is actually healthy.
The real question is - should society have jobs for the sake of jobs? Or should society go all in on finding the optimal mix of inputs for production? Why not go a step further - what’s the optimal mix of businesses in the economy? Do we really need as many as all that exists?
Frankly software firms have been able to get away with being insanely bloated because of the very favourable economics of the business.