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Marketplace Scratch Pad

Internet, the destroyer?

Scott Jagow Jun 8, 2009

I was having dinner with friends this weekend and one of them said: “The Internet is destroying our economy.” He’s a journalist, so that fact alone might explain his theory. But he also pointed out that the music business and the movie business and the book-publishing business have all had their revenue models irrevocably changed/crushed. True enough, but is that a bad thing?

I don’t have a hard answer. I just thought it was a thought-provoking question. I mean, one of the most popular new inventions of the Web, Twitter, still hasn’t figured out how to make money. Internet entrepreneurs have long wrestled with the revenue problem, but is there something bigger at work here? If you don’t look at the Internet as a destroyer of industries, then what is it and what does it do for (or to) our economy?

I’m just leaving this one open for any thoughts you might have…

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