Do We Need Area Codes?

What if the 3 digits that precede your phone number no longer related to a place? Known as “number depletion,” phone companies use area codes because we are running out of numbers. But nee…

Changing Times

Not so long ago, the NY Times depended on ads, help wanted, real estate revenue. Now we have craigslist and monster.com. An Op-Ed Column could be read only on the Op-Ed page. Now, anyone can copy and …

Your Elevator Pitch

What if you had just 1 minute to sell your business idea? According to Marketplace.org, your “elevator pitch” would need, 1) to state the problem you are solving; 2) to explain why your so…

When is 60 a Good Grade?

At 60.8 percent, the Institute for Supply Management’s (ISM) measure of manufacturing activity was way up, far more than anyone expected. Reflecting expansion, any number above 50 is good. So ro…

Auto Innovation

Saying, “I believe the people who invented the auto cannot abandon it,” President Obama supported the bailout of General Motors. Economist Joseph Schumpeter would have been horrified. The …

Blockbuster's Sunk Costs

When is it bad to be good at something? Blockbuster has the answer. As described by New Yorker columnist James Surowiecki, Toys ‘R Us, Barnes & Noble, and Blockbuster were known as “ca…

Netflix and Buggy Whips

After reading this NY Times article about Netflix, you might begin to think about buggy whips. I know it sounds distant but here is the connection. Entrepreneurs make an existing product or process ob…

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