From the Pandemic to Restructuring to Disruptive Corporate Behavior: 2023 as the Inevitable Year of Efficiency

Abstract

Joseph Schumpeter’s concept of creative destruction is being put to the test as each month of 2023 passes with the process of economic evolution and recreation being witnessed as a rapid pace of change is upon us. Mark Zuckerberg’s pronouncement of 2023 as the year of efficiency was not a prediction but rather a description of the events that have unfolded in the Tech industry that has also spilled over to other key economic sectors. Are we seeing a normal evolution of the development of the next phase of economic realities or a major upheaval of the system to correct decisions and actions of the past that were ill conceived and executed? This study is an attempt to accurate identify this unique economic phenomenon this has been occurring since Spring of 2022.