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They feared transformative ideologies and capitalism's potential for creative destruction.
The alternative is to sell themselves to established firms—hardly a recipe for creative destruction.
"I want to see that this person is signing up for creative destruction," Gupta said.
"Now is a good time for creative destruction," he said, referring to the concept of established companies' being replaced by more innovative competitors.
California has always lost jobs to other places (one of the strong points of its economy is its capacity for creative destruction), so bleating businesspeople are nothing new.
We have to do it in a way that preserves the economic dynamism in the country — that provides incentives for creative destruction.
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Joseph Schumpeter documented this pattern in Capitalism, Socialism, and Democracy, coining the term entrepreneur, which he described as the person who, when successful, revolutionizes an industry through the process of "creative destruction" (creative for the superior technologies, destructive for all the established firms that would go out of business).
Stand by, therefore, for another round of creative destruction in the field of information technology.
Nor do the French have much time for the idea of creative destruction that we claim to venerate.
The question is whether corporate Britain is prepared for yet another bout of "creative destruction".
For the valuable process of creative destruction to occur in the marketplace, new players with superior offerings and ingenious business models must be able to get into the game.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com