Thursday, June 18, 2009

Detroit bailout, put in IT terms

I loved this quote from Tom Friedman (of "The World is Flat" fame), which describes the way we will look back on the Detroit bailout some day, in IT terminology.

". . .our bailout of Detroit will be remembered as the equivalent of pouring billions of dollars of taxpayer money into the mail-order-catalogue business on the eve of the birth of eBay. It will be remembered as pouring billions of dollars into the CD music business on the eve of the birth of the iPod and iTunes. It will be remembered as pouring billions of dollars into a book-store chain on the eve of the birth of Amazon.com and the Kindle. It will be remembered as pouring billions of dollars into improving typewriters on the eve of the birth of the PC and the Internet."

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