By now you may have heard that Cisco is shutting down its Flip camera division and laying off 550 workers over the next few months. This is a property that Cisco paid 590 million dollars for back in 2009, so that’s a huge chunk of money to just eat. So why did they shut it down? A lot of people are pointing to the idea that it’s now very common to have a basic video camera built in to your phone so the cheap lug-around camera is already being lugged around.
In my mind, it’s another move toward the gadget singularity. Our phones are computers, gaming systems, cameras, music players, movie players, PDAs, and now video cameras too. Are we approaching a world where the phone (or tablet, I suppose) is your primary gadget and everything else is for experts and connoisseurs?
Also, where the heck are we going to put all this stuff that we’re making? Videos are space hogs. Good times ahead for dependable companies selling cloud space.
We’re here to help you navigate this changed world and economy.
Our mission at Marketplace is to raise the economic intelligence of the country. It’s a tough task, but it’s never been more important.
In the past year, we’ve seen record unemployment, stimulus bills, and reddit users influencing the stock market. Marketplace helps you understand it all, will fact-based, approachable, and unbiased reporting.
Generous support from listeners and readers is what powers our nonprofit news—and your donation today will help provide this essential service. For just $5/month, you can sustain independent journalism that keeps you and thousands of others informed.