IBM's Downfall: A Cautionary Tale of Adaptation and Hubris The 25% stock crash that hit IBM on Tuesday sent shockwaves through the tech industry, leaving many wondering how a company of its stature could so utterly fail to adapt to changing market conditions.
The rare admission from CEO Arvind Krishna that the company had "not adapted and moved quickly enough" is a stark reminder that even established players can fall victim to their own hubris.
Krishna's words are striking given his efforts since taking over as CEO in 2020 to reposition IBM around AI and hybrid cloud.