Orac’s post, Jon Stewart on the Detroit bailout, points to Stewart’s perspective on the bailout. (Watch the video; it’s hilarious.) Some paraphrases and quotes from Stewart:
‘Congress… doesn’t know what the financial industry does and doesn’t want to look stupid.’ (paraphrase of Stewart)
“The auto industry has a product that’s tangible and easy to complain about. … Even the crappy ones [cars] are useful.” (quote)
‘The people you bailed out make derivative paper transfers of derivative groupings of said loans to China.’ (paraphrase, because I’m not sure I wrote it down properly)
“Wall Street lost all the money without making anything” (quote)
Who else makes an ephemeral product? Software-only producers, that’s who. Especially software as a service. Especially if they don’t release and get feedback frequently.
More food for thought when you start thinking about your strategy and your ability to execute.
