What will big businesses look like in 10 years?
There was a time when big businesses started acquiring and building verticals that made them huge organizations. General Electric was one of them. GE was founded by Thomas Edison and one of the first companies ever traded on the Dow. Fast forward 118 years it is fascinating to read about the acquisitions that GE has made. Starting out as a company about electrical properties it has an investment, transportation, healthcare, oil and gas, home and business solutions, aviation, and global research vehicle. Due to many of the regulations that have been put into place after the last financial crisis, GE has opted to get out of the banking business.
I was talking to a someone the other day who told me that Goldman Sachs is having a hard time hiring kids out of school. There was a time when recent undergrads and grad students flocked to the jobs at Goldman Sachs but no longer. Another company that was founded in 1869 and evolved into one of the largest global investment banks in the world. Will regulations and lack of interest in the next generation to work there change the empire?
Then I saw a business that wanted to change schools with a new curriculum that would turn every person into an entrepreneur. Where are the artists, the writers, the teachers?
We are entering a new world. The new college graduates that I speak to want to be part of the new technology economy. They want to do something that makes them happy. They want to be able to make a difference in the world. The jobs are shifting and will continue to shift in the next decade. More people will graduate with computer science degrees. Technology will take us to places that we are just starting to think about. Soon every business will have been disrupted by technology. A huge percentage of the population will be a freelance worker.
I can’t help but wonder what will these big businesses that have been the economic backbone of our economy for hundreds of years look like in a mere decade?