> I like to believe that such businesses die out by process of natural selection. :)

It would be nice if they did. The trouble is that if you want to grow 
really big (and being large can be a major competitive advantage in many 
markets) its hard to avoid going public on the stock market. Once a 
business does that it's bosses then need to satisfy stock market 
investors that they are doing a good job and suddenly apparent 
performance and meeting targets becomes more important than long term 
viability.



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