I wrote a piece about health care recently, for a financial site, and had it thrown back in my face. You can read it, but I won’t get paid a penny if you do.
This is not the first time this happened. It happened in 2011. Back then I was calling IBM’s hiring of Virginia Rometty as CEO an historic mistake.
Back then shares in IBM were selling for about $180/share. It’s now below $140, and the company has almost entirely missed the most profound tech story of the decade, the cloud-and-device revolution. They still claim a place in the cloud, but it’s a small place, and a precarious one. Meanwhile, even companies like Adobe have zoomed past them in market cap. Apple could now buy IBM about five times over.
Before continuing, let me add that there's nothing dishonest about what IBM did. I'd just seen this movie before, nice marketing people following entrepreneurs and leading the company onto the rocks, because technology is about innovation, and it can only be run effectively by innovators.