To Be or Not to Be!

In Shakespeare’s five-act tragedy, driven by the obsession with revenge, Hamlet delivers his immortal soliloquy—one we all recognize—while wrestling with his helpless, pitiful, and cowardly state of inaction.

When we look at Turkish translations of this iconic line, we find variations like:

• Sabahattin Eyüboğlu: "To exist or not to exist?"
• Bülent Bozkurt: "To be or not to be"
• Orhan Burian: "To live or to die?"
• And Can Yücel, with his uniquely local touch: "There is one more option—could it be... to die?"

At the dawn of the 20th century, nearly 40 out of every 100 Americans worked in agriculture to feed a nation of 90 million. By the start of the 21st century, that number had dropped to just three.

Yet, this dramatic shrinkage didn’t lead to famine—it brought agricultural abundance. More importantly, it opened the doors to new employment in the industrial and service sectors. The 37 out of 100 workers no longer needed in agriculture simply shifted into different roles, producing other goods and services.

For example, the automobile industry—nonexistent in 1870—would go on to directly and indirectly employ millions across the U.S. economy. Soon after, the aviation industry would emerge and trigger another wave of transformation in the labor force.

The same principle applies to companies.

Richard Foster of Yale School of Management noted in a 2012 paper that the average lifespan of an S&P 500 company was 67 years in the 1920s, dropped to 61 years by 1958, and fell further to just 25 years by the 1980s.

His projection for 2027? 75% of the companies currently on the S&P 500 will have been replaced by new ones.

Every new technology, communication system, energy source, or financial instrument renders its predecessor obsolete—yet continues to make the economy more productive and efficient.

This is precisely why BV Portföy Yönetimi A.Ş. has centered its investment philosophy around the concept of “disruptive innovation.” It’s a commitment to investing in the future.

Because unless you're one of those companies quick to adapt and lead your industry forward, as Hamlet might say:

“There is one more option… could it be… to perish?”