IMO, the US business industry has become over-financialised to the point of self-sabotage. R&D and capital expenditure are seen as "bad" things to have on accounting statements. Combine this with Jack Welsh type CEOs who do everything they can to cut out "costs" on financial statements and you get organizations like GE turned into (badly run) banks.
Cisco is now essentially a publicly traded PE firm that buys up other companies to milk dry. Most internal development is outsourced by suits far removed from any qualifications on quality.
We all know the foibles of Boeing, where accountants made the final calls on everything.
The only innovations the traditional American car companies seem to be able to focus on is how to make cars bigger to increase margins. It's ludicrous that it took a new company (Tesla) to make electric cars available.
I could go on. This is not to say that other countries (including China) don't have their own issues with their business climate, but the United States has an environment where some of the smartest and best paid people in the country are working their asses off to find out better ways to show ads (Google/Facebook).
That's ultimately what you get when you have a system that 1) has most of its money held by the retirement/pension funds of a generation that didn't have enough children to sustain organic domestic economic growth and 2) has incentivized returns to those institutional investors at the board and c-suite levels of most companies.
I mean if we're talking about generations that didn't have enough children to sustain organic domestic economic growth, then China is actually ahead of us there. Their birth rate plummeted below replacement well before the US's did.
Everyone acts like the C8 corvette doesn’t exist when they shit on American cars. Actually GM is an innovative awesome company.
The C8 has topped many “top car” lists since it came out in 2020. The reviews on it are universally excellent and it gaps pretty much anything that the turn-signal hating BMW crowd manufactures both in literal performance and in design.
Also there's no longer really any such thing as an American car. Everything now is some globalized mess of parts from brands here and there. Made in factories wherever is most financially convenient.
Cisco is now essentially a publicly traded PE firm that buys up other companies to milk dry. Most internal development is outsourced by suits far removed from any qualifications on quality.
We all know the foibles of Boeing, where accountants made the final calls on everything.
The only innovations the traditional American car companies seem to be able to focus on is how to make cars bigger to increase margins. It's ludicrous that it took a new company (Tesla) to make electric cars available.
I could go on. This is not to say that other countries (including China) don't have their own issues with their business climate, but the United States has an environment where some of the smartest and best paid people in the country are working their asses off to find out better ways to show ads (Google/Facebook).