How Do Century-Old Companies Keep Winning? The Hidden Playbook

Eaton just dropped $11.8B to acquire Cooper Industries this week, and honestly, most people scrolled past it. But here’s what caught my eye: these aren’t some shiny startup unicorns—they’re dinosaurs that somehow stayed relevant.

Eaton? Founded 1911. Made the first gear-driven truck axles back when cars were still a luxury. That’s 113 years of continuous evolution. Cooper’s even wilder—1833, started in Ohio churning out plows and stoves. By 2024, it’s a power systems powerhouse. 191 years. Let that sink in.

They’re not alone in this longevity game:

DuPont (founded 1802) – Started as a gunpowder manufacturer in Delaware, now operates across chemicals, plastics, and agriculture. 222 years running. That’s not just surviving—that’s complete reinvention while staying profitable.

Sotheby’s (original company 1744) – Here’s the real flex. The auction house is technically 280 years old and hasn’t fundamentally changed its business model. Just sold Edvard Munch’s The Scream for $119.9M. A company that’s been doing the same thing since the 1700s just broke art auction records.

So What’s Their Secret?

These aren’t companies that clung to “the way we’ve always done it.” Eaton pivoted from truck parts to power management systems. DuPont transformed from explosives to biotech. They survived world wars, recessions, and tech disruptions because they understood one thing: adapt or die.

Meanwhile, how many “disruption leaders” from 2010 are still around? WeWork? Theranos? Even household names got liquidated. But a company that literally made plow shares in 1833? Still winning.

The lesson for any investor: sometimes boring, adaptable, and boring-again is the strongest moat in markets.