New York Venture Capitalist, Fred Wilson blames the internet:
“Clearly the economic downturn is the direct cause of most of these failures but I believe it is the straw that broke the camel’s back in most cases. The internet, now closing in on 15 years old in its mainstream incarnation as the world wide web, is in many cases the underlying cause of these business failures. Bits of information flowing over a wire (or through the air) are just more efficient than physical infrastructure”
A virtual Woolworths?
