Senescence
Average tenure increases, risk aversion rises, innovation rate declines.
The resources invested in the dying salmon's body are more valuable as fertilizer for the next generation than as maintenance for an aging body that won't reproduce again.
Pacific salmon grow continuously for 3-5 years in the ocean, then swim upstream to spawn. After spawning, 100% die - not from exhaustion but because post-spawning senescence is genetically triggered. Hormones shift, immune system shuts down, organs fail. The dying salmon decompose, fertilizing the stream for their offspring.
This is semelparous reproduction: reproduce once, then die. Many plants are semelparous (bamboo flowers once in 40-120 years then dies; agave grows 10-30 years, flowers once, dies). Others are iteroparous: oak trees live 200-300 years producing acorns annually; elephants reproduce every 5 years for 50+ years.
Both strategies work but both have limits: semelparous organisms stop growth at maturity and shift all resources to reproduction, then death. Iteroparous organisms slow growth at maturity, splitting resources between maintenance and reproduction.
Business Application of Senescence
Organizations age and lose adaptability. Average tenure increases, risk aversion rises, innovation rate declines. LVMH manages this by acquiring fresh brands rather than forcing aging brands to innovate - treating senescence as inevitable and building strategy around it.