We have said it before, and it will always hold true: you have to innovate or die. The time a company spends on the S&P 500 is 60% shorter today than it was just 14 years ago. Companies that spend too much energy on trying to maintain an existing competitive advantage instead of taking risks on innovation will ultimately be disrupted. There will be many more Kodaks and Blockbusters in the coming years—businesses that once seemed invincibly competitive, only to fall and fall hard because they failed to move forward.
