On a recent trip to New York, I had coffee with economist and board director Kathleen Camilli, a friend from my years living in Greenwich and working in Midtown. We talked about deglobalization. I kept thinking about the owners I work with — changing tariffs, uncertain costs — as they try to win business, protect margins, and get paid.
In my own work, AI lets me research, build, and market with capabilities that once required a team. But everyone else has those tools, too. I’m sending outreach while fielding a deluge of emails, calls, and LinkedIn messages from people doing exactly the same thing.
Reaching people is easy now. Getting them to answer isn’t. And the cost of delivering what we sell hasn’t gone anywhere. Having built a physical-product business, I know a sale only becomes worthwhile when there’s money left after acquiring the customer and fulfilling the order.
More capability and more activity don’t make a stronger business. Margin and cashflow do.