People invented companies in search of immortality; the companies would live and carry on their legacy. Kongo Gumi, a Japanese company engaged in the construction of temples, lived 1,429 years. There are a few 1,000-year-old companies still around. They are rare, surviving gems of a bygone era. The average life of an S&P 500 company has declined from 90 in 1935 to 18 years in 2016, according to a Mckinsey & Co report. Recent studies indicate that the average life of a publicly-traded company, considering acquisitions, mergers, and bankruptcy, is about 10 years. Clearly, the longevity of companies is in
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