Creative destruction is a concept that, simply stated, means you must destroy in order to create. It is a major tenet of capitalism and the foundation of persistent, long-term economic growth. Innovative, nimble, and more cost-efficient companies and products are born at the expense of larger, lumbering, inefficient companies-even those that may have revolutionized the market in their heyday-that are unable to keep up and eventually fade away. And so on and so on.
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