Sunday, March 15, 2009

The Fall of Empire

Talk about reporting your own death:

I find this another interesting example of the *huge* social changes that the internet has brought. Digital cameras have devastated (for now, at least) professional photography, all the way from High Fashion and Advertising to the mall photo booth. Job outsourcing has within a few years devastated domestic employment as any "information job" can be run from "anywhere". Finance and Wall St. have exploded with the ability to suck money from anyone with cash and an internet connection. Online sales have put major pressures on "Brick and Mortar" retailers. Medical, political, the list goes on and on.

We all remember the power of William Randolf Hearst. Strange how the seemingly unrelated invention of "The Internet" has brought these huge and powerful institutions to their knees. They can't even sell the newspapers now... the entire business or even the paper its printed on. Remarkable.

P.S. I predict TV will be the next media victim. In the next 10-15 years, we'll see broadcast TV and many "cable" TV shows go the way of the payphone. (Cue post on the remarkable social re-working brought about by the mobile phone!)

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