Is The Meltdown ‘Creative Destruction?’
Fred Wilson, who blogs at Musings of a VC, guesses the economic meltdown might be about more than the economic cycle and the misdeeds of bankers and the auto industry.
This downturn will be marked in history as the time where many of the business models built in the industrial era finally collapsed as a result of being undermined by the information age. Its creative destruction at work. It’s painful and many jobs will be lost permanently. But let’s also remember that its inevitable and we can’t fight it. Technology and information forces are unstoppable and they will reshape the world as we know it regardless of whether or not we want them to.
Investors have the luxury of acknowledging the inevitable. Politicians do not. So, the next few years will be all about shoveling money to stop the “unstoppable.”
Happy New Year!
This entry was posted on December 31, 2008 at 3:35 am and is filed under Barack Obama, Congress, Recession/Depression with tags creative destruction. You can follow any responses to this entry through the RSS 2.0 feed You can leave a response, or trackback from your own site.
