Last week (September 24-30, 2024) is a great example
Let's start with the BIG news.
First, the Presidential Election--especially Trumpian trumpeting--consumed most of the news cycle, a pattern that we've seen all too well for nearly a decade, proving both the validity of Orwell and Huxley predictions. And predictably, even though newscasters 'know the impact' keep reporting it breathlessly.
Second, the Hezbollah bombing, and killing of leader Hassan Nasrallah commanded headlines and stories at length, understandably.
Third, Hurricane Helene, spreading widespread destruction to areas with little warning, killing hundreds and leaving countless thousands without food, water, or shelter. Tragic.
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Then, what I would ordinarily consider Big News, from the San Jose Mercury-News, still my go-to online newspaper even though we moved from the Bay area more than a decade ago, carried these stories which I thought significant. But none of them even went 'national' Admittedly, the first two went 'local' in Oregon, for a very specific reason.
First, two Fortune 50 companies had alarming (or joyous) news, depending on your point of view, and since they are Oregon's two biggest employers, it caused a local stir:: A. John Donahoe, CEO of Nike, was relieved of his duties. The Wall Street Journal had a small squib, and Bloomberg Business had urged this action earlier in the same week. Seems he didn't earn much employee goodwill (averred my granddaughter!), and revenues and profits were suffering as well. B. Intel, it was reported, is the take-over target for (a) Qualcomm, or (b) ARM. And beleaguered CEO Pat Gelsinger even was quoted as saying he thought the company could be saved, especially if the Feds lean in. Now, how the hell can Intel be in such sorry shape? This was the behemoth of silicon not many moons ago; proud and aloof even. And Nike, with little upstart Adidas 'next-door' in Portland--what gives?
Second, another Fortune 50 company, Cisco, announced it was moving its headquarters from its huge presence on Tasman Drive in San Jose to Santa Clara's Santana Row, essentially an upscale mall--beacuse they have better restaurants for lunch for employees. What BS. What they announced was that Buildings 8, 9, 10 and 11--the core of Cisco's vast property estate in San Jose--was being abandoned. WHAT? This is as shocking, and perhaps as dunb, as when Boeing's idiot beanies decided to move Boeing headquarters from Seattle to Chicago. How'd that one work out? And how long before Boeing is a 'break-up' target for the vulture hedge funds?
And then, OpenAI and its charismatic leader, Sam Altman, said something to the effect of "now we;ll have to start charging for ChatGPT." This at the end of a week featuring a two-day session at the United Nations General Assembly re AI, and an hour special TV show hosted by Oprah Winfrey re AI (with Sam Altman as the first speaker), and a special UNGA Digital Health Symposium with two days of breakout sessions re AI and ML.
Third, a small obituary appeared, for Bob Maxfield, the M of ROLM, where a raft of ex-Sylvania and HP folk started one of the first of the Silicon Valley start-ups. I turned to the Computer History Museum oral history for Maxfield, and played nostalgia for a day, while wondering why CHM never interviewed R or O or L. Oshman, the O, was CEO from the beginning, and he indeed did several Si Valley oral histories, though none for CHM. Gene Richeson (the R), and Walt Loewenstern (the L) have none. I was in a small Venture group for years with Walt. A shame that these stories haven't been captured. Ah, well.
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My thoughts today--AI will prove far more impactful on the world than Hezbollah, and certainly more than any single hurricane--probably as much as summarized world climate change, if not more. And the life-cycles of Fortune 50 companies and their products, including unintended consequence products, will have way more impact than the news headlines suggest. But that means changing the perceptions of journalists and readers from today's on-the-spot news into more reflective approaches. Won't happen.
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