When is the best time to take a risk? When you have nothing to lose.
What industries should be taking the biggest risks?
1. Auto companies – Is the Volt risky enough for General Motors or will it be one of a dozen other similar cars? American car companies are on the road to ruin so they need to make the best electric car possible. Is Tesla Motors for sale?
2. Newspapers – When will one newspaper decide to stop printing a newspaper and go completely online? Sure, they won’t make the same revenue–but they won’t have the same expenses either. If a newspaper waits until their print readership is down so low that they are debating about going out of business then it is too late. By then they’ll have lost readership and have probably carved up their newsroom so much that they won’t really be a news source. Thus death is imminent.
3. Oil companies – This sounds crazy, but who has more money right now with a worse public image? The writing is on the wall–Americans want to stop using oil. If I’m running a big oil company then I wake-up every day trying to be at the forefront of alternative fuels. Remember, the General Motors and New York Times of the world never saw it coming even while the writing was on the wall.
4. Barack Obama – McCain has been playing it risky and that is the only reason he’s still relavent in this race. Obama has to stop trying so hard to be perfect and take McCain on in the next debate like a man whose family is starving. Playing for a tie might get him through the debate and it could make him President but it may also find him still in the Senate come January.