Comments on: Wall Street Journal Suggests Internet Is Dead http://arnoldit.com/wordpress/2009/07/19/wall-street-journal-suggests-internet-is-dead/ by Stephen E. Arnold Sun, 12 Feb 2012 09:55:49 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Bill Bartmann http://arnoldit.com/wordpress/2009/07/19/wall-street-journal-suggests-internet-is-dead/comment-page-1/#comment-67743 Bill Bartmann Thu, 03 Sep 2009 21:18:40 +0000 http://arnoldit.com/wordpress/?p=7483#comment-67743 Cool site, love the info. Cool site, love the info.

]]> By: sperky undernet http://arnoldit.com/wordpress/2009/07/19/wall-street-journal-suggests-internet-is-dead/comment-page-1/#comment-60823 sperky undernet Sun, 19 Jul 2009 15:04:08 +0000 http://arnoldit.com/wordpress/?p=7483#comment-60823 The WSJ article seems a cannabalized form of the recent article (July 10) by Douglas Rushkoff, "How the Tech Boom Terminated California's Economy" http://www.fastcompany.com/article/how-tech-boom-terminated-californias-economy which is a feeler for his new book Life Inc. How the World Became a Corporation and How to Take It Back http://lifeincorporated.net/about.html The point as I understand it is that it is investment and the institutions supporting it that have failed and that it is the internet that will be part of the mix that will become an important part of our economic future. Rushkoff would say that utilities and commodities lost value when the corporations wrote the rules, controlled the game and co-opted world wealth from the wealth of individuals and guilds into their own idea of the market which they and their proxies like the US Chamber of Commerce now post-mortem try to market anew as green shoots instead of the non-compost-ready shit that it is. The recalibration can start with this, from the Rushkoff article cited above: "The banking crisis began with the dot.com industry, because here was a business sector that did not require massive investments of capital in order to grow. (I spent an entire night on the phone with one young entrepreneur who secured $20 million of capital from a venture firm, trying to figure out how to possibly spend it. We could only come up with $2 million of possible expenditures.) What's a bank to do when its money is no longer needed? Especially when contraction is not an option?" The reality is disintermediating the already-self-dintermediated financial industry among others by creating value between partners. The new business yardstick can be considered to be the benefits of empowerment. We need to figure how this works so that those who can can work again. The WSJ article seems a cannabalized form of the recent article (July 10) by Douglas Rushkoff, “How the Tech Boom Terminated California’s Economy”
http://www.fastcompany.com/article/how-tech-boom-terminated-californias-economy
which is a feeler for his new book Life Inc. How the World Became a Corporation and How to Take It Back http://lifeincorporated.net/about.html
The point as I understand it is that it is investment and the institutions supporting it that have failed and that it is the internet that will be part of the mix that will become an important part of our economic future. Rushkoff would say that utilities and commodities lost value when the corporations wrote the rules, controlled the game and co-opted world wealth from the wealth of individuals and guilds into their own idea of the market which they and their proxies like the US Chamber of Commerce now post-mortem try to market anew as green shoots instead of the non-compost-ready shit that it is.

The recalibration can start with this, from the Rushkoff article cited above:

“The banking crisis began with the dot.com industry, because here was a business sector that did not require massive investments of capital in order to grow. (I spent an entire night on the phone with one young entrepreneur who secured $20 million of capital from a venture firm, trying to figure out how to possibly spend it. We could only come up with $2 million of possible expenditures.) What’s a bank to do when its money is no longer needed? Especially when contraction is not an option?”

The reality is disintermediating the already-self-dintermediated financial industry among others by creating value between partners. The new business yardstick can be considered to be the benefits of empowerment. We need to figure how this works so that those who can can work again.

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