The American Press Institute has published a staff summary of Thursday’s CEO conference, “CEO Summit on Saving an Industry in Crisis.” The last two paragraphs, under the subhead “Next steps,” kind of sums up the industry’s whole problem:
Participants agreed to reconvene in six months, and to explore additional collaboration. Some spoke of joint investment in research and development of both technologies and products, others of more formal means of sharing information.
“Why can’t we be the disruptors?” asked one. “We have nothing to lose.”
Six months? What are they thinking? They’ve laid off more than 10,000 people in the last six months—what will be left six months from now? They need to launch a Manhattan project to blow up their industry and start over. Now, not six months from now.
“We have nothing to lose” is about right, but they may have nothing left to invest in change, either.