Gall's Law applies here: "A complex system that works is invariably found to have evolved from a simple system that worked. A complex system designed from scratch never works and cannot be patched up to make it work. You have to start over with a working simple system."
Usually the way this happens in practice is that you take what has been learned about the market and the requirements from older, bloated, not-working-anymore products, and then start a new company and a new product that is simpler and hits 80% of the use cases with 20% of the complexity. There's even a name for this in business: "Disruptive Innovation". The simple product will eventually become bloated and complex and fail once it gets popular and lots of people start working on it, but then you start the cycle anew.
The economy is actually very well structured to accommodate this. One of the great parts of capitalism and market economies is that it tolerates partial failures extremely well: you just buy from a different supplier. This is in contrast to other systems like fascism, communism, socialism, bureaucracy, and state capitalism where the failure of the system usually means the failure of the state as well, because there is no way to replace parts of the system without a revolution.
There is arguably a problem with the current U.S. economy where the government has become overly involved in certain "too big to fail" industries, thus creating a system much closer to state capitalism that can no longer tolerate partial failures and so is condemned to one huge failure. This is unfortunate, but the eventual resolution is the same: throw it out and start again.
Usually the way this happens in practice is that you take what has been learned about the market and the requirements from older, bloated, not-working-anymore products, and then start a new company and a new product that is simpler and hits 80% of the use cases with 20% of the complexity. There's even a name for this in business: "Disruptive Innovation". The simple product will eventually become bloated and complex and fail once it gets popular and lots of people start working on it, but then you start the cycle anew.
The economy is actually very well structured to accommodate this. One of the great parts of capitalism and market economies is that it tolerates partial failures extremely well: you just buy from a different supplier. This is in contrast to other systems like fascism, communism, socialism, bureaucracy, and state capitalism where the failure of the system usually means the failure of the state as well, because there is no way to replace parts of the system without a revolution.
There is arguably a problem with the current U.S. economy where the government has become overly involved in certain "too big to fail" industries, thus creating a system much closer to state capitalism that can no longer tolerate partial failures and so is condemned to one huge failure. This is unfortunate, but the eventual resolution is the same: throw it out and start again.