With venture-capital funds flowing freely, the competition to be a “disrupter” is brisk. Thing is, the battle for dominance burns lots of cash and hinders profitability while not disrupting much besides investors.
Americans are less likely to own their homes, cars or even their music these days, giving them flexibility and creating business opportunities, but those businesses are largely untested in an economic downturn.
President Trump said that business leaders had told him reducing how often companies report earnings was a good idea. Investors—the people who own the companies that the executives lead—probably don’t agree.
The economy did fine in the second quarter. The question for investors is how it will do for the rest of the year. Even though it might not be off to the races, it is growing solidly and set to retain that momentum throughout 2018.