The IT Era and the Internet Revolution

Stratechery

Stratechery:

Newspapers obviously weren’t the only industry to benefit from information technology: the rise of ERP systems, databases, and personal computers provided massive gains in productivity for nearly all businesses (although it ended up taking nearly a decade for the improvements to show up). What this first wave of information technology did not do, though, was fundamentally change how those businesses worked, which meant nine of the ten largest companies in 1980 were all amongst the 21 largest companies in 19951. The biggest change is that more and more of those productivity gains started accruing to company shareholders, not the workers — and newspapers were no exception.