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Not only is our Board Chairman, Gordon Sawyer, a forty-year veteran of the business and marketing world, he's also an author and historian. Gordon writes history commentaries for a regional news radio and Internet company and we thought we'd share his latest. It's about a subject dear to our hearts, the Internet. Enjoy.
Meg Whitman Looks at History and the Internet
I had an opportunity the other day to listen to a short-range history discussion by a high tech executive named Meg Whitman, the young lady who is the Chief Executive Officer of eBay. She was talking about the rapid rise of the high tech industry, and especially the Internet-related businesses, and the way they fell to earth when reality set in.
The industry made some serious mistakes, she pointed out. First, the techies were sure they would totally replace the competitive free-enterprise world!the so-called "old economy" business sector. It turns out Meg Whitman is a pretty good long-term student of history, too, and she pointed out this isn't the first time investors have gone overboard on a new technology and watched a boom and bust because of it.
If you'll study history, she said, it is usually the second wave of business (a combination of those who survived the first wave, and a bunch of second wave start ups with basic skills as well as new technology skills) who have gone on to become the foundation for a new economy.
In addition to the investors, she said, you had another lesson from history. Within the industry itself, were "mercenaries" and "missionaries"!to use her terms. The missionaries wanted to build a new business world based on the new technology; they were in it to stay. The mercenaries wanted to balloon a new technology business, sell it and get rich quick and young. Most of the mercenaries are now gone, she noted.
Judging from business history, Whitman indicated, "the Internet is here to stay." Just like the railroads, or electricity, or the telephone, or radio and television. And any business that does not go ahead and get on board runs the risk of being left behind. But it is going to be an evolution, she predicts, that will both include both "bricks and clicks"!that will build on both old economy skills and new technology efficiency in both marketing and production.
Meg Whitman was very methodical, very down-to-earth, an excellent historian. What's amazing is that she is the forty-something CEO of a billion-dollar plus company in an industry which is only about 10 years old.
This is Gordon Sawyer from a window on historic Green Street.
Meg Whitman Looks at History and the Internet
I had an opportunity the other day to listen to a short-range history discussion by a high tech executive named Meg Whitman, the young lady who is the Chief Executive Officer of eBay. She was talking about the rapid rise of the high tech industry, and especially the Internet-related businesses, and the way they fell to earth when reality set in.
The industry made some serious mistakes, she pointed out. First, the techies were sure they would totally replace the competitive free-enterprise world!the so-called "old economy" business sector. It turns out Meg Whitman is a pretty good long-term student of history, too, and she pointed out this isn't the first time investors have gone overboard on a new technology and watched a boom and bust because of it.
If you'll study history, she said, it is usually the second wave of business (a combination of those who survived the first wave, and a bunch of second wave start ups with basic skills as well as new technology skills) who have gone on to become the foundation for a new economy.
In addition to the investors, she said, you had another lesson from history. Within the industry itself, were "mercenaries" and "missionaries"!to use her terms. The missionaries wanted to build a new business world based on the new technology; they were in it to stay. The mercenaries wanted to balloon a new technology business, sell it and get rich quick and young. Most of the mercenaries are now gone, she noted.
Judging from business history, Whitman indicated, "the Internet is here to stay." Just like the railroads, or electricity, or the telephone, or radio and television. And any business that does not go ahead and get on board runs the risk of being left behind. But it is going to be an evolution, she predicts, that will both include both "bricks and clicks"!that will build on both old economy skills and new technology efficiency in both marketing and production.
Meg Whitman was very methodical, very down-to-earth, an excellent historian. What's amazing is that she is the forty-something CEO of a billion-dollar plus company in an industry which is only about 10 years old.
This is Gordon Sawyer from a window on historic Green Street.
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