Wrong! 3 years ago I bought a “mall basket” of the great companies of yesteryear. I thought diversification in the clothing business would save me from quickly moving fashion trends and at least one would survive. But no, father time killed them. All of them. They *all* went bankrupt!
To revolutionize an industry, you have to cast off received wisdom. Shake Shack’s Danny Meyer knows this well. When he opened his first restaurant, received wisdom told him food was the star attraction. But Danny knew to focus on how customers FEEL. And