The strong live and the weak die. There is some bloodshed, and out of it emerges a much leaner industry, which tends to survive.
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I think the environment has become more competitive. That has made Indian industry more concerned with a) its customers, b) the quality of its products, and c) its brand image in the marketplace.
Walmart is not arrogant. We could go away at any minute. I think most of us act that way every day. If you're not willing to fail - and we are failing at some things - you're going to go away.
For a lot of companies, it's useful for them to feel like they have an obvious competitor and to rally around that. I personally believe it's better to shoot higher. You don't want to be looking at your competitors. You want to be looking at what's possible and how to make the world better.
I'm excited to share the news that we've agreed to acquire Instagram and that their talented team will be joining Facebook.
Great industries are never made from single companies. There is room in space for a lot of winners.
I found that competition was supposed to be a menace and that a good manager circumvented his competitors by getting a monopoly by artificial means.
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