![]() Now it doesn’t take more than the cranial capacity of a ladybug to appreciate both the absurdity of this statement and the creativity involved in dreaming up such silliness to divert blame for one’s own failings. ![]() Wetherell claims that the downturn is “a different type of millennium bug” - one caused by the government injecting additional money into the banking system out of concern for a run on banks in the wake of possible Y2K computer failures. Look closely at today’s failing online ventures: Are they failing because they didn’t have great technology or because they lacked the managerial acumen to turn the zillions of venture capital (VC) dollars they had raised into a profitable business model (before they ran out of money)? The technology was there the failings were clearly human.Īnother amazing statement by Wetherell, reported in the same article, was his attempt to absolve VC companies of blame for the market downturn in Internet stocks. Keeping Eisner company in the clueless department is CMGI Chief Executive Officer David Wetherell, who asserted in an Internet World speech, reported by NetworkWorldFusion, that “technical smarts trump managerial ability… We’re looking for great technology first and great management second.” Wetherell continued, “It’s easier to add the latter than the former.” Now doesn’t that strike you as being completely back asswards? What it means is that Disney is clueless about how to go about building a profitable online portal. Amazingly, Disney Chairman Michael Eisner quipped, “The advertising community has abandoned the Internet.” Hardly. Similarly, Disney recently deep-sixed its Go.com portal while pushing 400 employees off the employment cliff last January, along with another 135 employees a month later. ![]() I learned on the Web the other day that lemming suicide is indeed fiction: “Contrary to popular belief, lemmings do not periodically hurl themselves off of cliffs and into the sea.” But this myth was reinforced during the filming of Disney’s 1958 nature documentary “White Wilderness.” Apparently, the film crew “induced lemmings into jumping off a cliff and into the Bow River in South Alberta to document their supposedly suicidal behavior.” Note: Several dozen lemmings gave their lives for the making of that Disney film.
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