When I was an intern at Google circa 2010, there was a guest lecture from a business professor who described exactly this process. At the end of it, he made a comment like, "Of course none of this will happen to Google. You're too innovative." But literally every single prediction of his came true, and I witnessed some of them happening in front of my own eyes even in just the months that I was there (and certainly in the years that followed, though I was no longer with the company).
Ian's post is pretty incisive, although I've read so many of these over the past 15 years or so. And the prescription is always to go back in time.
I don't really think that's possible. When you're a newcomer, a disruptor, the whole point is to be different. You're bold, you have a clarity of purpose, you say things like "we're building a new kind of a company" or "the user comes first."
But once you achieve market dominance, your priorities have to shift. It's no longer "why wouldn't you try this" or "let's do the right thing." It's "why would you rock the boat and risk the nice thing we have?" It's not just about profit. Careers and incomes are at stake. People will get hurt.
Risk tolerance aside, your organizational structure ossifies too. When you have people who have been running processes or departments in a particular way for fifteen or twenty years, they have little desire to start over from scratch. And that's not necessarily a bad thing, because what's the alternative? A cutthroat corporate environment where you're never sure about the future of your job?
I think the only comedy here is that Google looked at these old-school companies like Microsoft or IBM and figured they can be different just because they "get it." And then, over time, they rediscovered the reasons why old companies always end up operating in a particular way.