Monday, March 17, 2008

All The Pain, No Gain

After years of living with the SEC and Sarbanes-Oxley when I ran Narrowstep as a public US company, it is so ironic that, at the very time innovation was being regulated out of existence in the US, thousands of mortgage brokers were treating the US mortgage market like the Wild West and creating not the odd isolated corporate malfeasance but a systemic undermining of the world financial market.

Those of us involved in the media think that it's an important industry, but it pales beside the sheer dominance of housing, banking and energy. The US financial markets are a very hostile place for innovative media companies. We are, I'm afraid, a side show to a side show in the internet TV world. If you really want to change the world you need to be a dodgy banker.

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