What are your thoughts regarding the following statement:
These companies had high valuations with little to no profits, riding the wave and hype of the new tech. A booming equity market funded them in the early 2020s, which came with cheap capital. When the money dried up, and these companies had no self-sustaining profits to continue operating, the crash finally came.
How about the images below:
I keep hearing and reading about procurement professionals being dinosaurs, and having been around long enough to qualify for dinosaur club membership, I think I might have something worthwhile to add to the discussion.
A Simple Year Change
What are your thoughts regarding the following statement?
These companies had high valuations with little to no profits, riding the wave and hype of the new tech. A booming equity market funded them in the 1990s, which came with cheap capital. When the money dried up, and these companies had no self-sustaining profits to continue operating, the crash finally came.
How about the image below:
How many of the “exciting and innovative” high-tech companies from the 2000 era are still around in 2024?
Even some of the era’s established “big companies,” like Nortel, Corel, and JDS Uniphase, are now dot.com boom and bust fossils.
What is the saying about those who fail to learn from the past?
Procurement professionals aren’t dinosaurs. They are just not buying into the shiny paper promises of another (equation-based) tech-driven boom and bust.
I was asked what I think about the “evergreen” evolution of high-tech computing. My answer has always been the same – it’s not about the technology but the problems the technology solves. In other words, as great as the tech may be, it means nothing if it doesn’t come after people and process understanding.
When organizations make the mistake of leading with technology, they are bending their people and processes around an equation-based model approach in which the tech is the driver for success.
When you lead with people and process understanding – an agent-based model, technology moves from a functional driver to a problem-solving tool that streamlines and delivers efficiencies and tangible results.
Walking The Talk
When I talk about agent-based problem-solving technology versus equation-based technology-led functionality, it isn’t a vague or high-level conceptual musing. It is an on-the-ground, in-the-trenches reality.
In many previous posts, I shared the following results of an agent-based approach to technology creation and implementation:
“In August 2003, the new technology successfully went live in a production environment for the DND. In this test case, the public sector organization realized a year-over-year 23% cost of goods savings for seven consecutive years while simultaneously reducing the number of buyers required to manage the contract to 3 from an original 23. Delivery performance and product quality also improved dramatically.”
If you haven’t already read the posts, please do, as it is worth the 5-minute investment.
Procurement Insights
Procurement Professionals Are Not Dinosaurs!
Posted on June 21, 2024
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What are your thoughts regarding the following statement:
These companies had high valuations with little to no profits, riding the wave and hype of the new tech. A booming equity market funded them in the early 2020s, which came with cheap capital. When the money dried up, and these companies had no self-sustaining profits to continue operating, the crash finally came.
How about the images below:
I keep hearing and reading about procurement professionals being dinosaurs, and having been around long enough to qualify for dinosaur club membership, I think I might have something worthwhile to add to the discussion.
A Simple Year Change
What are your thoughts regarding the following statement?
These companies had high valuations with little to no profits, riding the wave and hype of the new tech. A booming equity market funded them in the 1990s, which came with cheap capital. When the money dried up, and these companies had no self-sustaining profits to continue operating, the crash finally came.
How about the image below:
How many of the “exciting and innovative” high-tech companies from the 2000 era are still around in 2024?
Even some of the era’s established “big companies,” like Nortel, Corel, and JDS Uniphase, are now dot.com boom and bust fossils.
What is the saying about those who fail to learn from the past?
Procurement professionals aren’t dinosaurs. They are just not buying into the shiny paper promises of another (equation-based) tech-driven boom and bust.
We Can Still Minimize the 2024 Crash
Below is an excerpt from the Procurement Insights article – Are you chasing solutions or solving problems? (Part 1 of 3). Your answer to this question if you are vulnerable to the effects of dinosaur thinking:
I was asked what I think about the “evergreen” evolution of high-tech computing. My answer has always been the same – it’s not about the technology but the problems the technology solves. In other words, as great as the tech may be, it means nothing if it doesn’t come after people and process understanding.
When organizations make the mistake of leading with technology, they are bending their people and processes around an equation-based model approach in which the tech is the driver for success.
When you lead with people and process understanding – an agent-based model, technology moves from a functional driver to a problem-solving tool that streamlines and delivers efficiencies and tangible results.
Walking The Talk
When I talk about agent-based problem-solving technology versus equation-based technology-led functionality, it isn’t a vague or high-level conceptual musing. It is an on-the-ground, in-the-trenches reality.
In many previous posts, I shared the following results of an agent-based approach to technology creation and implementation:
“In August 2003, the new technology successfully went live in a production environment for the DND. In this test case, the public sector organization realized a year-over-year 23% cost of goods savings for seven consecutive years while simultaneously reducing the number of buyers required to manage the contract to 3 from an original 23. Delivery performance and product quality also improved dramatically.”
If you haven’t already read the posts, please do, as it is worth the 5-minute investment.
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