[mwfunk]

I totally agree. In the tech industry at least, stock performance seems totally driven by growth. Companies that stop growing for a few quarters are seen as failures, when maybe they just reached an equilibrium for a while.

I would think that equilibrium was fine, maybe even a good sign- it's a successful business that's humming along. But short-term investors want to see growth, so they can cash out their investment in a few months or years.

The positive aspect of all of this is that it constantly drives evolution and innovation through competition. The part that sucks is that businesses are forced to constantly grow (or waste lots of money on failed attempts to grow), until they get so big compared to their optimal size that they just stop making sense as companies and crumble under their own weight.