Monday, July 26, 2004
Death by Creative Destruction
How the mighty have fallen
Interesting article in Newsweek (snoozeweek) about the looming demise of AT&T. Fascinating isn't it? It was only about 20 years ago when the government forced the break-up of AT&T, which at the time was the largest and most profitable company in the world. Like any debate, there were critics who said if you forced competition on the telephone market it would be a disaster. Of course is wasn't, phone calls are cheaper than ever and we have an ever growing choice of services like land lines, cell phones and voice over internet. In fact the Elephant doesn't even have a landline anymore (they are so 20th Century!).
Anyway, just another example of the process of creative destruction where the economy creates new technologies and opportunities out of the remnants of current industries. Adapt or die!
http://www.msnbc.msn.com/id/5504585/site/newsweek/
Interesting article in Newsweek (snoozeweek) about the looming demise of AT&T. Fascinating isn't it? It was only about 20 years ago when the government forced the break-up of AT&T, which at the time was the largest and most profitable company in the world. Like any debate, there were critics who said if you forced competition on the telephone market it would be a disaster. Of course is wasn't, phone calls are cheaper than ever and we have an ever growing choice of services like land lines, cell phones and voice over internet. In fact the Elephant doesn't even have a landline anymore (they are so 20th Century!).
Anyway, just another example of the process of creative destruction where the economy creates new technologies and opportunities out of the remnants of current industries. Adapt or die!
http://www.msnbc.msn.com/id/5504585/site/newsweek/
