Recessions can be good thing, if we seize the opportunities to improve. When we are forced to tighten our belts, economically speaking, we are forced to be innovative. We can throw out the status quo and 20th century business models in favor of tools and businesses built for the iPhone world. And to those who can see the positive opportunities and have good ideas, the recession induced changes can be very lucrative for when the prosperous times inevitably return.
– Wireless Phone Companies: Paying buy the minute? Are you kidding me? $5 per megabyte? Seriously? SMS is extra? Why? Everything is digital now and everything is riding the same radio waves. Stop thinking cell phone and start thinking mobile smart device. Companies like Sprint will come out ahead because they realize that unlimited talk, data, SMS, GPS, etc. is the future. No longer will we be hampered by having to pay extra fees to use all the features of our phones. Hopefully the recession will force someone to start getting serious in reducing the monthly charges and offering all the services of the phones at no additional charge. The future of the computer is the mobile device.
– Newspapers: Honest reporting with a good reputation is still critical. Any bloggers (myself included) have wide access but may or may not be reputable. Newspapers such as the New York Times and Washington Post should realize that there is difference between the content and the delivery method. Paper, ink, delivery trucks are all too expensive in our new economy. They need to be looking at a new delivery method whereby you sell a customer an e-ink based reader that gives you the “look and feel” of newspaper but that is updated over the Internet via an EV-DO or WiFi connection. A model similar to cell phones whereby you see the device cheap and make up the cost in monthly access fees. And by adding an option for a la carte choice of various newspapers, people will get to customize their paper selection.
– Speaking of a la carte choices, wake up cable companies. The future of television is the computer and streaming video whereby people can pick niche entertainment based on their own weird idiosyncrasies. People are only willing to pay for what they want, as seen in the very successful iTunes model. Get onboard or you too will become a relic.
– The list can go on and on. Music industry, movie industry (both production and distribution), auto industry, magazines, etc. If you don’t evolve with the time you will be left to die. But hey, that’s capitalism; if you don’t have what the market demands you don’t sell anything and if you don’t sell anything you don’t make a profit. Eventually you go the way of the dinosaurs.