A website that I frequent everyday of the week on a consistent basis is CNBC. The website is a best way to thoroughly present the continuous minute to minute changes in the global economy on a real-time basis. The website is a necessity in the world of business, as it is ever changing with the globalization of today's world.
The advantage of having business information on a website in real-time easily keeps a person like myself in the information loop. There is an old saying, "time is money!" and if that is not wisdom, I do not know what is. As a day trader, I am constantly seeking the best and most accurate information circulating around Wall Street each day, as I want my share of the pie too. I do not have to wait until the next day to find out what happened yesterday, as I would reading the newspaper. On my computer screen, I have the news in the world of business as it happens in real-time.
If one were seeking to "translate" the information of CNBC, one would need to have a constant large mass of writers next to type-writers, editors working all three shifts every day with no paid time off, and a non-stop printing press with plenty of teenagers on mopeds to deliver the latest print off the press every hour. Wow, that was so much to put in a sentence, let alone put orally. Even the older generation is transitioning to the Internet as the old days of print slowly subside into history.
As there are no obvious gains translating the information into print or orally, there are plenty of losses. Need I say productivity of your workers, with ridiculous paper and fuel costs. The costs would needlessly trickle right on down to the consumer as he pays a substantial premium for his printed text. This would definitely end all of the free newspaper trials that you get in your mailbox every month. To sum it up, it is very easy to recognize the advantages CNBC has in its business, as it has no other competition other then Bloomberg. Say goodbye to Wall Street Journal!
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2 comments:
Very well said, "Time is money!" That is so very true!
I would never think to look on CNBC for stock information and such, but I do not follow them anyway. It is cool, though, how we can look up information instantaneously that would have taken a newspaper the next day to find out before. The internet is most definitely the "information super-highway."
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