I want to read you some headlines:
"New Business Looks Dead."
"A Grand Disaster."
"Proof That Big Idea Was a Big Hoax."
Think I'm talking about the Internet or new media? No, these are headlines from the turn of the last century, just after the auto boom went bust… when hundreds of automobile or auto-related companies folded or just failed, their stocks turning into junk and some of their backers ending up in jail.
Little more than a few years earlier, there were no fewer than 334 auto-related stock offerings in the markets. 334!
When all was said and done, three were left: GM, Ford and eventually Chrysler. Amazing. You'd think the auto was dead. We know, in retrospect, that it was not. It was about to become the American passion and the American pastime. Lesson learned.
Just because new technology stocks tank, doesn't mean the new technology does. Look at the Internet. We all use it… for buying gifts, checking headlines, making investments or booking vacations.
It's part of who and what we are, but to hear the naysayers, you'd think it died. Well, it didn't… only some of its louder, weirder players.
Be careful about glaring headlines that say new media is dead because AOL-Time Warner isn't working. Stocks and companies come and go, but things that change our lives, improve our lives do not.
What do you think? Send your comments to: firstname.lastname@example.org. And watch Neil Cavuto's Common Sense weekdays at 4 p.m. ET on Your World w/Cavuto.
Neil Cavuto serves as senior vice president, anchor and managing editor for both FOX News Channel (FNC) and FOX Business Network (FBN). He is anchor of FNC's Your World with Cavuto - the number one rated cable news program for the 4 p.m. timeslot - as well as the FNC Saturday show Cavuto on Business. He also hosts Cavuto on FBN weeknights at 8 p.m. In addition to anchoring daily programs and breaking news specials on FNC and FBN, Cavuto oversees business news content for both networks and FNC's weekend business shows, including Bulls & Bears, Forbes on Fox, and Cashin' In. Click here for more on Neil Cavuto.