I am quite bearish about the impact of WFH, especially for software engineers, but if there is one country where I think the coronavirus can have a huge positive effect for the economy, it is Japan. Japanese companies are generally extremely inefficient. Outside of a few powerhouses, partially thanks to a protected and large domestic market, Japanese labor practices are antiquated. There is a culture of overwork that…
How does this square with for example the Japanese car market, which I thought led the world in labour practices and efficiency? They've invented many labour practices that are considered the best we have today. And their cars are so cheap - how are they doing this if they aren't being efficient? For example are Toyota's engineering and factories running on wasted meeting time, fax machines, and hand-written letters?…
All the overtime and useless meetings produce a lot of decisions by consensus that balance out the random “maverick” ideas a VP might come up with. This creates a bizarre balancing act that sometimes produces decently market-synced products.
Also the just crazy amount of seasonality in Japan makes even the slowest moving company make large pivots at least four times a year. New season? New product, even if it’s weird and nobody wanted it, they figure out how to sell it and get 1500 workers to all shift left at the same time.