HP was born as an inventor, shaping Silicon Valley's earliest culture and creating multiple technology categories. Over eight decades it transformed into a scaled operator, split into two corporations — HP Inc and Hewlett Packard Enterprise — that today lead printing, PCs, and enterprise infrastructure.
The question now: Will HP continue to optimize the present, or can it reclaim the future?
HP's story is the story of a pioneer that became a defender. To remain relevant in the AI era, it must move from Core back into Edge (and at least one Beyond bet).
Palo Alto. A garage. Bill Hewlett and Dave Packard created precision electronics, and with Stanford support, seeded what became the HP Way — an innovation-first, people-first culture that defined Silicon Valley before the term existed.
HP 200A oscillator — the first product that launched the company
Test and measurement leadership established HP as precision engineering pioneer
HP-35: World's first handheld scientific calculator
Laser and inkjet printing revolution transforms document technology
HP wasn't following trends — it was setting them.
From the 1950s through the 1990s, HP grew horizontally into computers, printers, networking, and services, becoming a diversified tech giant.
Agilent spin-off — Core instrumentation business leaves HP
Compaq acquisition — PCs and servers scale up dramatically
EDS acquisition — Enterprise services expansion
Autonomy acquisition — $8.8B writedown leads to governance crisis
HP increasingly became big tech run by M&A, not invention.
To regain focus, HP split into two public companies. Both remain large S&P 500 companies operating in distinct markets.
Mapping HP's innovation arc reveals a migration from Beyond → Edge → Core over eight decades. This is normal for scaled incumbents — but dangerous in platform shifts.
Examples: PC refresh cycles, LaserJet/DeskJet updates, managed print services
Outcome: Sustained margins with supplies annuity model
Examples: Commercial PCs, security hardening, fleet services
Outcome: Defending share in mature markets
Examples: All-in-One form factors, Instant Ink subscription
Outcome: New models without new categories
Examples: WebOS tablets, Multi Jet Fusion 3D printing
Outcome: Mixed results; some traction in industrial segments
Examples: Calculators, early computing, print revolution
Outcome: Created entirely new markets
Examples: Memristor, The Machine
Outcome: Science leads product; no commercial escape velocity
Core remains profitable, but Core cannot secure the next decade. HP needs new value pools.
Three credible pathways — all Edge to Beyond:
Leverage channel and endpoint dominance in PC+peripherals+identity management
PCs and printers control authentication surfaces in enterprise environments
Print IP + materials science enable factory-lite computing + local supply chains
HP as the infrastructure of decentralized making — factory-lite computing + local supply to reduce global friction. That is a Silicon Valley origin move — creation, not protection.
Path: Beyond → Edge → Core
Status: Defensive scale
Path: Edge → Core → seeking Edge
Status: Enterprise cloud + AI positioning
Path: Core → Edge
Status: AI datacenter scale-up
Path: Edge → Beyond
Status: Category maker
Path: Beyond → Services
Status: Hybrid/AI consulting
HP is the only one that began in Beyond and retreated from it.
HP's challenge is cultural as much as strategic. To survive the AI and decentralization era, HP must reclaim Edge and commit to at least one Beyond bet with conviction.
Without this shift:
It remains a global leader in declining or flat markets
With it:
HP can invent the next platform it operates in — just like it did in 1939, 1968, and 1984.
Which does it want to be in 2035?