ON JANUARY 13TH Honda, a Japanese carmaker, said it had to shut its factory in Swindon, a town in southern England, for a while. Not because of Brexit, or workers sick with covid-19. The reason was a shortage of microchips. Other car firms are suffering, too. Volkswagen, which produces more vehicles than any other firm,…
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TECH FIRMS with ropy business models are told to “pivot”—abruptly reinvent themselves in the hope that a new approach generates profits before venture capital runs out. YouTube is celebrated in business schools for hurriedly switching from a dating service to video-sharing; Slack ditched online gaming for corporate chat. Agile repositioning is not confined to Silicon…