“But there’s some sort of revealing lesson here in the beyond-short-term viability-curve of advances in consumer technology. The career of vidophony conforms neatly to this curve’s classically annular shape: First there’s some sort of terrific, si-fi-like advance in consumer tech—like from aural to video phoning—which advance always, however, has certain unforseen disadvantages for the consumer; and then but the market-niches created by those disadvantages—like people’s stressfully vain repulsion at their own videophonic appearance—are ingeniously filled via sheer entrepreneurial verve; and yet the very advantages of these ingenious disadvantage-compensations seem all too often to undercut the original high-tech advance, resulting in consumer-recidivism and curve-closure and massive shirt-loss for precipitant investors. In the present case, the stress-and-vanity-compensations’ own evolution saw video-callers rejecting first their own faces and then even their own heavily masked an enhanced physical likenesses and finally covering the video-cameras altogether and transmitting attractively stylized static Tableaux to one another’s TPs. And, behind these lens-cap dioramas and transmitted Tableaux, callers of course found that they were once again stresslessly invisible, unvainly makeup- and toupeeless and baggy-eyed behind their celebrity-dioramas, once again free—since once again unseen—to doodle, blemish-scan, manicure, crease-check—while on their screen, the attractive, intensely attentive face of the well-appointed celebrity on the other end’s Tableau reassured them that they were the objects of a concentrated attention they didn’t have to exert.”
“The longer-term effect of the capital markets’ preference for remaining at the same knowledge stage is stagnation. At some point, exploitation activities will run out of steam, and the company will be outflanked by competitors taking more exploratory approaches. Earnings will stop growing or even decline, and the analysts will savage the company for its lack of innovation. As James March points out, “An organization that engages exclusively in exploitation will ordinarily suffer from obsolescence.”
“glamour can serve many purposes: individual and collective; personal, social, commercial, or political. The story of glamour is the story of human longing and its cultural manifestations. Like other forms of rhetoric and art, glamour can embody good ideas or bad ones. It can inspire life-enhancing actions or destructive ones. Its meaning and its effects depend on the audience. But one thing is certain: glamour is not trivial.”
“In formal economic terms, ‘innovation’ involves the diffusion of new things and practices. The term is completely agnostic about whether these things and practices are good. Crack cocaine, for example, was a highly innovative product in the 1980s, which involved a great deal of entrepreneurship (called ‘dealing’) and generated lots of revenue. Innovation! Entrepreneurship! Perhaps this point is cynical, but it draws our attention to a perverse reality: contemporary discourse treats innovation as a positive value in itself, when it is not.”