Intuit

I’ll tell you why. The Intuit Board of Directors has fallen for the same old money grab that has plagued the tech development and service industry since its inception.

They are stripping away product choices and service options in favor of a one-size-fits-all product line to boost short term stock prices. They will go one step further and stop providing live tech support from human beings in favor of vastly less expensive and infuriatingly incompetent Chat Bot tech support. Of course they’ll still offer live human interfacing in their sales department. But that will be the last time new subscribers talk to a human being after buying their product except maybe in their customer retention department where a few sad employees will try desperately to stop subscribers from going ballistic and cancelling subscriptions.

The profiteers orchestrating this scheme will make a boat load of money in the short term from stereotypical increases in stock prices as investors react to short term gains.

Extremely negative long term consequences will be left for others to clean up but the damage will be largely permanent. Cost and technical issues will preclude rolling back to the old tried and true business model that made Quickbooks so successful.

Quickbooks competitors are already working hard to fill the vacuum created by Intuit. There are millions of pissed off ex and current Quickbooks subscribers waiting to be vacuumed up by existing software providers and new startup providers who recognize a massive potential for immediate and long term profits by providing pared down bookkeeping software options that do not have to do everything for every customer.

Intuit’s bloat and blunder will serve the few, screw the many, and open the door for blistering competition.

The idea that competition, supply & demand, and smart business decisions will protect and ensure long term market stability has been proven to be profiteer’s propaganda over and over again. All market crashes over the last 100+ years have largely been caused by the ‘smartest’ dinglegrunts in business choosing short term gain over long term stability.

And of course, time and time again, the ‘smartest’ predictors of market trends, including various Federal Reserve Board Members and Chairs, always come around after the fall with their mea culpas…’oh well, apparently short term profits trump all other considerations.’ Google Alan Greenspan’s mea culpa…thanks captain obvious.