What do Dinosaurs, Big Companies, Traditions, and Experienced People in common? They are slow to change and adapt. In a stable environment, they would thrive because they know how things would work based on the understanding of how things worked. However if the environments they understood suddenly change the rules, they would be the slowest to adapt and would possibly go extinct. In this stage, established structures and traditions become burdens, old knowledge and experiences become dead weights.
As humans, we are constantly trained by our experiences. Based on what works and what doesn’t, we develope our way of thinking and acting. Unfortunately, these habits would impose a limitation to our ability to adapt. At turbulent times, big companies, like dinosaurs, would fail to adapt and get crushed by smaller and more efficient companies. For the same reason, start-ups with old, traditional investors often fail as the investors interfere innovation with rules and traditions. This is how the young outperform the old despite the difference of decades of experiences. This is how small companies can take on multinational giants despite the huge difference in financial strength and business experience.