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77 companies
Toyota
Automotive Manufacturing
Toyota didn't invent the automobile - it built the most imitated operating system in business history. The Toyota Production System emerged from a bru...
Taiwan Semiconductor (TSMC)
Semiconductor Manufacturing
TSMC didn't invent semiconductors - it invented trust at scale. When Morris Chang proposed a pure-play foundry in 1987, every major chip company rejec...
Texas Instruments
Semiconductors
Texas Instruments made a decade-long bet on 300mm wafer manufacturing when competitors hesitated, investing $5-7 billion annually in fab capacity. The...
Theranos
Healthcare Technology/Biotech
Theranos raised $700 million, reached a $9 billion valuation, and partnered with Walgreens - all without working technology. Elizabeth Holmes didn't b...
Trattoria Bella Vista
Restaurant
Chicago restaurant that exemplifies catastrophic knowledge transfer failure. Founded 1952, survived 63 years across three generations until Marco Ross...
Social Media
Twitter accidentally built the most powerful positive feedback engine in media history. What started as 'SMS of the internet' became self-reinforcing:...
Tata Consultancy Services (TCS)
Technology Services
Tata Consultancy Services crossed $30 billion in revenue for fiscal year 2025 while employing 607,000 consultants across 55 countries. This scale mirr...
Tesla
Automotive / Electric Vehicles
Tesla went all-in on battery electric vehicles in 2008 when every other automaker was hedging. That single strategic bet—choosing speed over optionali...
The New York Times
Media / Journalism
170+ year-old newspaper that demonstrates active teaching systems for transmitting editorial standards. The Times employs 1,700+ journalists who must...
T-Mobile
Telecommunications
T-Mobile raised 2025 guidance to 7.2-7.4 million total postpaid net additions, up from prior guidance of 6.1-6.4 million, including 3.3 million postpa...
Tailored Brands
Retail - Menswear
Tailored Brands' 2020 bankruptcy ended the parent company of Men's Wearhouse and Jos. A. Bank, demonstrating how workplace clothing retailers were dev...
TalkBox
Technology / Mobile Messaging
Hong Kong-based mobile messaging app that launched in late 2010 with voice note functionality. TalkBox was the fastest-growing social app in China by...
Target
Retail
American retail corporation operating discount department stores. Exemplifies the suburban fox territorial strategy in contrast to Walmart's rural app...
TaskRabbit
Technology / Gig Economy
When IKEA acquired TaskRabbit in September 2017, furniture assembly represented 2% of tasks booked on the platform. By 2024, assembly had climbed to n...
Tata Group
Diversified Conglomerate
Tata Group represents 156 years of evolutionary strategy that defies conventional business logic. Founded by Jamsetji Tata in 1868, the Indian conglom...
Tata Motors
Automotive
Tata Motors' $2.3 billion acquisition of Jaguar Land Rover in 2008—just before the global financial crisis—tests sparse network topology as contagion...
Tech Mahindra
Technology Services
Tech Mahindra occupies a niche: telecom transformation specialist in an industry undergoing trophic cascade. As Communication Service Providers (CSPs)...
Technogym
Fitness Equipment
Technogym's €901 million 2024 revenue (11.5% growth) and pivot toward "Healthness"—merging fitness with preventive healthcare—exemplifies strategic re...
Teladoc Health
Healthcare/Telehealth
American telehealth company founded in 2002 addressing fragmented, expensive, and inconvenient U.S. healthcare access. Pioneered on-demand video/phone...
Telefónica
Telecommunications
Telefónica operates 181.5 million premises passed with ultra-broadband networks, of which 84.6 million run on fiber-optic cables the company owns outr...
Telegram
Technology/Messaging
Cloud-based instant messaging service. Example of successful digital satellite strategy - serves as privacy-focused alternative to WhatsApp/WeChat, se...
Telenor ASA
Telecommunications
A telecommunications network serving 172 million subscribers across two continents demonstrates how mycelial architecture enables selective pruning. T...
Telstra Corporation
Telecommunications
Telstra's infrastructure position—Australia's largest mobile network covering 99.6% of the population across 2.7 million square kilometers with 22 mil...
Temenos
Banking Software & Fintech
Temenos built a $1 billion+ banking software business by occupying a niche giants ignored: mid-sized banks in emerging markets. Founded 1993 in Geneva...
Tencent
Technology/Gaming/Social Media
RMB609 billion revenue in 2024 (10% growth) and RMB192.9 billion in Q3 2025 (15% surge) understates Tencent's biological role: keystone species whose...
Terra (LUNA)
Cryptocurrency
Terra's May 2022 collapse destroyed $40 billion in value within a week, demonstrating how algorithmic stablecoin mechanisms can enter death spirals. T...
Tesco
Retail
Tesco posted £3.13 billion adjusted operating profit in 2024/25, up 10.6%, with UK market share hitting 28.5%—a 0.7% gain year-over-year. This is not...
Texaco (Bankruptcy)
Oil & Gas
Texaco's 1987 bankruptcy—triggered by a $10.5 billion Pennzoil judgment—represents the largest verdict-driven failure in history. A single handshake d...
TGI Fridays
Restaurants - Casual Dining
TGI Fridays' 2024 bankruptcy ended the casual dining chain that had pioneered the 'fern bar' concept in 1965. The company that introduced singles bars...
Thai Airways (Bankruptcy)
Aviation
Thai Airways' 2020 bankruptcy demonstrates how state airlines face political constraints that prevent restructuring until crisis forces it. The flag c...
Thales Group
Aerospace
Thales generated €20.6 billion revenue in 2024 with €51 billion order backlog, operating across defense, aerospace, cybersecurity, and transport. The...
The Aaron's Company, Inc.
Retail - Lease-to-Own
The Aaron's Company is a leading omnichannel provider of lease-to-own and retail purchase solutions. The company offers furniture, electronics, applia...
The Bancorp, Inc.
Banking Technology & Services
The Bancorp is a financial holding company providing banking and technology solutions to non-bank financial services companies and middle market busin...
The Limited Stores
Women's Apparel
The Limited's 2017 closure demonstrates how parent company diversification can orphan original brands. Les Wexner built Victoria's Secret and Bath & B...
The Sports Authority
Retail
The Sports Authority's 2016 liquidation closed 450 stores after competition from Dick's Sporting Goods, Amazon, and specialty retailers proved insurmo...
The Weekly Standard
Magazine
The Weekly Standard's 2018 closure demonstrates how ideological publications face extinction when they diverge from their base. The conservative magaz...
The Weinstein Company
Entertainment
TWC's 2018 bankruptcy after Harvey Weinstein's sexual abuse exposure demonstrates how organizations can be destroyed by founder misconduct. Decades of...
The Wet Seal
Retail
Wet Seal's 2015 and 2017 bankruptcies collapsed a teen fashion chain that couldn't survive fast fashion competition. The company filed bankruptcy twic...
Thermo Fisher
Life Sciences & Laboratory Equipment
Thermo Fisher's 2024 revenue of $42.88 billion makes it the world's largest supplier of scientific instrumentation, yet the organism operates through...
Thermo Fisher Scientific
Life Sciences & Laboratory Equipment
Thermo Fisher built the world's largest life sciences supplier through acquisitions that mirror mycorrhizal network formation. The company completed o...
ThermoGenesis Holdings
Medical Devices
ThermoGenesis Holdings is a market leader in automated cell processing tools and services for the cell and gene therapy industry. The company provides...
THG (The Hut Group)
Technology
THG is a global digital commerce and technology company. Operating beauty, nutrition, and luxury divisions, it sells branded products online worldwide...
Things Remembered
Retail
Things Remembered's 2019 liquidation closed 400+ stores selling personalized gifts and engraved items. The company had operated in malls for 50 years,...
Thomas Cook (Collapse)
Travel
Thomas Cook's 2019 collapse ended 178 years of travel history and stranded 600,000 tourists worldwide. The company couldn't adapt to online booking, c...
Thomas Cook Group
Travel/Tourism
Thomas Cook's 2019 collapse ended 178 years of history - the company that invented the package holiday couldn't survive the internet that made it obso...
Thornburg Mortgage
Financial Services
Thornburg Mortgage's 2009 bankruptcy destroyed a 'prime' mortgage lender that had avoided subprime entirely. The company made large jumbo mortgages to...
Three Arrows Capital (3AC)
Cryptocurrency Hedge Fund
Three Arrows Capital's June 2022 collapse helped trigger the crypto industry's worst contagion event. The hedge fund, founded by Su Zhu and Kyle Davie...
Thyssenkrupp
Industrial
€32.8 billion in revenue (down from €35 billion), steel production capacity slashed from 11.5 million tons to 8.7-9 million, 11,000 jobs eliminated or...
Tiger Global Management
Venture Capital
Most venture capitalists are ambush predators—patient, selective, waiting for the right moment. Tiger Global hunts like a locust swarm: speed, volume,...
Titan Company
FMCG
₹57,818 crore revenue in FY25 growing 22%, 2,000+ stores, 38,000 employees—Titan Company dominates organized jewelry through adaptive radiation across...
Tomra Systems
Environmental Technology
Decomposer organisms return nutrients to ecosystems; Tomra's 113,700 reverse vending machines across 100 markets return containers to material streams...
Toshiba (2015 Scandal)
Electronics/Conglomerate
Toshiba's 2015 accounting scandal revealed $1.2 billion in overstated profits across seven years. Management pressure to meet targets created systemat...
Toshiba Corporation
Technology & Electronics
Toshiba is a diversified technology company with businesses in infrastructure, energy, electronic devices, and digital solutions. The company has face...
Toshiba Laptops
Consumer Electronics
Toshiba's 2020 laptop exit after 35 years and first-ever laptop demonstrates how pioneers can be commoditized into irrelevance. The company that creat...
Toshiba Mobile Communications
Technology
Toshiba's 2015 exit from smartphones followed years of declining market share and losses. The company that pioneered many laptop technologies couldn't...
TotalEnergies
Energy
TotalEnergies generated $17 billion cash flow from Exploration & Production in 2024 (producing 1.4 Mb/d oil) while simultaneously investing $4 billion...
Tower Automotive
Auto Parts
Tower Automotive's 2005 bankruptcy collapsed another auto parts supplier dependent on the Big Three. The company made metal body structures and suspen...
Tower Records
Retail
Tower Records' 2006 liquidation closed 89 stores after digital downloads destroyed the music retail business. The company that once defined record sto...
Toyota Motor Corporation
Automotive
Toyota sold 10.8 million vehicles in 2024 (fifth consecutive year as world's largest automaker) despite 3.7% decline from 11.2 million in 2023. The co...
Toys "R" Us
Retail / Toys
Toy retailer crushed by online retail and debt, filed bankruptcy in 2018. Example of competitive displacement combined with leverage trap.
Trader Joe's
Retail/Grocery
American grocery chain founded in 1967 by Joe Coulombe in Pasadena, California. Originally a convenience store chain called Pronto Markets, Coulombe p...
Trainline
Technology
Trainline is Europe's leading independent rail and coach platform. The company sells tickets for over 270 rail and coach operators across 45 countries...
Trans World Airlines (TWA)
Airlines
TWA's 2001 absorption by American Airlines ended an airline that had defined transcontinental and transatlantic travel for half a century. Howard Hugh...
Transurban Group
Infrastructure
Transurban operates the toll road equivalent of a vascular network - fixed infrastructure that captures rent from flowing traffic. The company manages...
Tribune Company (Bankruptcy)
Media
Tribune's 2008 bankruptcy demonstrates how leveraged buyouts can kill healthy organisms by loading them with lethal debt. Sam Zell's $8.2 billion 2007...
Trip.com Group
Online Travel
Chinese travel services company providing hotel reservations, airline tickets, packaged tours, and corporate travel management. Largest online travel...
True Religion
Retail - Apparel/Denim
True Religion's 2017 bankruptcy ended the premium denim brand's decade as a fashion must-have. The company had pioneered $200+ jeans with distinctive...
Trulia
Real Estate
Trulia raised $33M to compete with Zillow in real estate search, reaching 23 million monthly users before being acquired by Zillow in 2015 for $2.5B—e...
Trump Taj Mahal
Gaming/Hospitality
Trump Taj Mahal's multiple bankruptcies (1991, 2014, 2016) demonstrated how Atlantic City's decline killed even its largest casino. Donald Trump's $1...
Tucker Corporation
Automotive
Tucker Corporation's 1949 collapse ended Preston Tucker's attempt to revolutionize automotive safety and design. The Tucker 48 introduced rear-engine...
Tucson Citizen
Newspaper
The Tucson Citizen's 2009 closure ended Arizona's oldest newspaper at 138 years. The joint operating agreement with Arizona Daily Star couldn't save i...
Tuesday Morning
Retail - Home Goods
Tuesday Morning's multiple bankruptcies (2020, 2023) demonstrated how off-price retail struggled when consumer spending shifted during and after COVID...
Tupperware Brands
Consumer Goods
Tupperware's 2024 bankruptcy ended a brand that defined mid-century American domesticity. The direct sales model that built the company became its pri...
Turing Pharmaceuticals
Pharmaceuticals
Turing's notoriety from 5,000% price hike on Daraprim demonstrates how drug pricing can trigger regulatory backlash. Martin Shkreli's $13.50-to-$750 o...
TVR
Automotive
TVR's 2006 closure ended British sports car manufacturing after Russian owner Nikolai Smolensky couldn't revive the brand. The company had made bespok...
Tweeter Home Entertainment
Retail
Tweeter's 2007 bankruptcy collapsed a premium electronics retailer caught between Best Buy and online. The company had grown to 150 stores offering hi...
Tyco International
Conglomerate
Tyco's 2002 crisis demonstrates how executive extraction can hollow out even diversified conglomerates. CEO Dennis Kozlowski treated the company as pe...