If the technology hadn't changed, they [newspapers] would…
![“If the technology hadn't changed, they [newspapers] would still be great businesses. Network TV [in its heyday], anyone could run and do well. If Tom Murphy as running it, you'd do very well, but even your idiot nephew could do well. Fortunately, carbide cutting tools [such as those made by Iscar]…” quote by Charlie Munger](https://sms4smile.com/q/img-quotes/c02/charlie-munger-458_business_if-the-technology-hadn-t-changed-they-ne_2396489.jpg)
“If the technology hadn't changed, they [newspapers] would still be great businesses. Network TV [in its heyday], anyone could run and do well. If Tom Murphy as running it, you'd do very well, but even your idiot nephew could do well. Fortunately, carbide cutting tools [such as those made by Iscar] don't have these types of substitutes.”
About This Quote
This interpretation was drafted with AI assistance. It is one reading of the quote, not the author's own explanation.
Some industries stay dominant because they lack viable substitutes, unlike media which evolved with tech.
In simple terms: Industries without alternatives stay strong.
Key Takeaway
Identify sectors with high entry barriers.
Themes
business strategy
technology
competition
industry analysis
Mood
analytical
cautious
Type
strategic
informative
When to use this quote
- investment decisions
- career planning
- market entry
- product development
Key Concepts
economic moat
disruptive innovation
Questions to Reflect On
- What industries seem irreplaceable today?
- How can you protect a business from future tech shifts?
A Different Perspective
Markets can still be disrupted by unforeseen innovations.