Over the past few years, many obituaries of the newspaper business have been written. The growing tsunami of instant information combined with increasing accessibility to this information has shaken the comfortable “moat-like” business model of newspapers to the core. Few other case studies better define Joseph Schumpeter’s concept of “creative destruction”. Can Steve Jobs’ iPad save the industry?
Fortune Magazine has named Apple CEO Steve Jobs as “CEO of the Decade”. There is no denying the fact that Apple has delivered for shareholders over the past decade. As the Fortune article states, Apple’s market capitalization has risen from $5 billion in 2000 to approximately $170 billion today. This has been due to Jobs’ ability to create a culture of innovation at Apple that has resulted in groundbreaking new technologies such as the iPod and iPhone not to mention the company’s widely acclaimed personal computers. Read this article for more on Steve Jobs and a video of his commencement address to Stanford University students.
In a CNBC interview today, Berkshire Hathaway Chairman and CEO Warren Buffett stated that the economy is not “moving yet” and that “green shoots” were not yet visible. Mr. Buffett joked that he was hoping the cataract operation on his left eye last month would help him see “green shoots” but he has not seen many hopeful indicators of economic growth. Read this article for more details.