I think it’s time that us in the Internet industry apologize to people who had a decent livelihood in a number of industries that we destroyed. There are millions of people whose jobs were put at risk by the Internet. And yes of course other jobs were created, and we all love the Internet and could not live without it. But I wonder up to what point, the fact that there is high unemployment in Europe and very low wages in USA (two sides of the same problem, loss of bargaining power of wage earners) has to do with the fact that the Internet has destroyed more jobs that it has created. That it’s been such a quick technological revolution that the economies of the world haven’t had time to adjust. People talk about the financial crisis as a jobs destroyer and that is true, we had a huge one, but job losses seem to go beyond that. Television, movies, newspapers, travel agencies, stock brokers, commercial real estate, retailing, are but examples of industries that have been affected by the Internet. Efficiency is great until the job they want to eliminate is your job. And there is a lot more job destruction coming, more industries to disrupt, jobs that will disappear. I am not complaining about this, indeed my companies have been part of the efficiency trend. But it is hard to argue that this quest for efficiency is not frequently sad and painful to many.
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