While the destiny of many dot coms looks
gloomy in the United States and elsewhere, there are obvious
perplexities also in Italy. The general hype continues, but
there are reports of dismay, even in mainstream media, that
are not based only on the ups-and-downs of the stock
exchange.
For instance there was an article on September 8, in a
major newsmagazine, that was not written by a journalist
looking in from the outside. It reflected directly the point
of view of a manager of one of the largest contenders in the
war of the portals.
Once upon a time there was the internet hurricane, that
quite rightly displeased all of the people who dont feel
comfortable with words and concepts flagged as authoritative
imperatives. Now the hurricane in blowing the other way:
newspapers are crammed with woe for the end of electronic
commerce, the disappointment of those who thought they could
get rich quickly and have soon met with the hard realities of
the economy ...
Im a fairly careful reader of newspapers and I havent
noticed any such hurricane of dismay. There is
still more hype than doubt. But this article and a few others
of the same kind (in addition to what is often whispered,
away from the limelight, in business circles) reveals what
the real feelings are inside large companies that have
invested heavily in the so-called new economy and
expected returns too soon and too easily.
Of course there is no hurricane. E-business isnt dying;
to a large extent it isnt born. But its more obvious every
day that there has been too much haste and that exaggerated
expectations could only lead do disappointment.
Again recently, in several circumstances, I have met
owners and managers of companies, large and small, who are
either dismayed or confused. If they tried something online,
they are disappointed. If they didnt they have an
uncomfortable feeling that they should, but they dont know
how.
There are fewer declared bankruptcies (o extensive staff
cuts) in Europe than on the other side of the Atlantic; but
there are many failures. Ive seen well conceived projects
canceled overnight because top management felt uncomfortable
about supporting them. Some good ideas warped by clumsy
executions. And lots of very bad ideas put on the market with
great fanfare and causing nothing but confusion on the
marketplace.
Its often quite amazing to see the lack of quality, care
and substance in the way major projects are handled by
organizations supported by those who are supposed to be the
wisest and most competent venture capitalists.
Hollow.com is a definition that
applies here as much as it does in the United States
probably more so.
The irony is that there is nothing really remote or alien
in e-business. Most basic good business principles apply
and what is needed is an additional touch of good service and
customer care. But those things need attention, commitment and
patience. The current lore is that no such hard work is
needed to succeed online; all you do is go out with something
flashy and you get rich overnight. The fact is that you dont
unless you are smart or lucky enough to unload the bundle
onto someone else who is then left with the problem of making
it really work (or maybe manages to sell it, merge
it or find new capital to move it a step ahead in the same
wrong direction). The real mystery is why its taking people
and companies (as well as media) so long to find out that
this merry-go-round cant last forever and that the resulting
mess is standing in the way of genuine, well-planned business
ventures.
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