Seventeen years ago, when two University of Pennsylvania professors developed the first electronic computer, International Business Machines sniffed that it had no commercial future. But in the early '50s, when computers made by Remington-Rand began replacing IBM punch-card machines. IBM rushed into building computers and quickly took over most of the market. Lured by IBM's success, other office-equipment makers and electronics companies rushed into computers and waited for the profits to roll in. With the exception of a lone company, they are still waiting.
Rat Race. IBM is so big and efficient...
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