Saturday, June 09, 2012

Quote of the Week: Creative Destruction

"There are more than 27 million businesses in the United States. About a thousand are huge conglomerates seeking to increase profits. Another several thousand are small or medium-size companies seeking their big score. A vast majority, however, are what economists call lifestyle businesses. They are owned by people whose goal is to do what they like and to cover their nut. These surviving proprietors [in the gentrifying West Village] hadn't merely been lucky. They loved their businesses so much that they found a way to hold on to them, even if it meant making bad business decisions. It's a remarkable accomplishment in its own right."
-Adam Davidson, "Jane Jacobs Vs. Marc Jacobs," The New York Times Sunday Magazine, June 10, 2012, p. 18

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