The giant sucking sound in the American business world is the rush of young talent leaving business schools, law schools, banking and industry for the start up world of dot.coms. They’re driven by the fear that the golden dream will pass them by.
And by greed too. You can have it all in the internet economy, not just a lot. You can be big and fast. Smart and rich. Working and happy.
The business models that built American enterprise are ancient history now. Corporate loyalty, working your way up the company ladder, training and experience – not even to mention the idea of profits and real companies that make real things.
Nearsightedness, the short term and the IPO are what matter now and failure is the ultimate badge of success. It means you’ve experienced the downside. Is anyone starting to ask if this is any way to run a railroad?
The new business model – in this hour.
(Hosted by Christopher Lydon)
Guests:
Glen Rifkin