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“We are putting a premium on speed,” said Jeff Immelt in his latest letter to the long-suffering shareholders of General Electric (GE).Ginni Rometty, who is struggling to revive IBM, recently told the , “People ask, ‘Is there a silver bullet?’ The silver bullet, you might say, is speed, this idea of speed.” The shareholders’ reports of the firms in the S&P 500 index of America’s biggest are littered with “speed”, “fast” and their synonyms, not to mention a goodly dollop of “disruption”.Mavericks and geese America’s executives worry that they won’t keep up with this quickening world.
The regular doubling of processing power known as “Moore’s Law” has provided decades of exponential growth in computing power.
Deregulation and globalisation mean that it is easier for firms to employ workers and make products through networks of third-party suppliers whose efforts can be amped up or services sloughed off with ease.
Yet hard evidence of a great acceleration is hard to come by.
Such hyperactivity in the world’s biggest company by market value makes it easy to believe that 21st-century business is pushing its pedals ever harder to the metal.
On Apple’s home turf in Silicon Valley the idea that things are continually speeding up is a commonplace.