What’s happening? Just like the 1980s, 90s, and 00s, “safe” blue chip companies
are not always safe.
Many are kicked off the fabled Dow Jones Industrials list, and wither up -- or get government bailouts, like General Motors under Obama. The Dow of 50 years ago would be almost unrecognizable today.
Even Goldman Sachs got a do-over in 2008, with the government looking the other
way as it changed its corporate structure, mid-crisis. A no-no for anyone else.
What’s killing companies like Sears is the Web. But it’s not just “people buying products on the Web.” It’s people selling stuff on the Web.
Amazon is the biggest enabler of this, but there are
plenty of others making it possible for micro-businesses to eat away at the big guys. Little people, acting as middlemen and wholesalers and retailers, can make big money. I know plenty of them personally. You'll hear about a few tomorrow.
Folks, this is happening before our eyes. I’m lucky to have a ringside seat, with several friends who are leading the entrepreneurial
charge, inventing ways for you and me to sell products and services sitting at our kitchen tables -- at way better profit margins than traditional retail.
This is transforming our country -- and Europe and Australia, a little less quickly.
“What are you talking about, Woods?” The easiest example is
the book industry. Huge publishing giants have gone under or been forced to merge just since 2008. (Sob -- all were lefties.)
Self-publishing used to be a laughingstock. The very idea of doing it meant you were not a serious author.
Now thousands of titles per year are sold -- we’re talking millions
of print books and many millions more eBooks -- by individual authors, including some of the biggest names in the book world.
It’s totally thrilling, and my own girls will be doing “e-selling” even before they get of high school.
I could go on. And we will, tomorrow night.
Plan to join me:
Tom
Woods