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KLM
Albert Plesman · 1919
KLM was not a private venture but a state-backed aviation instrument. Its longevity stems from institutional alignment — not market innovation.
Land taken from the sea by committee, and the art that paid for it.
KLM was not a private venture but a state-backed aviation instrument. Its longevity stems from institutional alignment — not market innovation.
ABB is a post-merger industrial incumbent whose value lies in proven, regulated, physical infrastructure — not software, platforms, or scalability stories.