And we wonder why Congress can’t get anything done. U.S. Representative Jesse Jackson Jr. spoke in the well of the House of Representatives and lamented against the iPad:
“A few short weeks ago I came to the House floor after having purchased an iPad and said that I happened to believe, Mr. Speaker, that at some point in time this new device, which is now probably responsible for eliminating thousands of American jobs. Now Borders is closing stores because, why do you need to go to Borders anymore? Why do you need to go to Barnes & Noble? Buy an iPad and download your newspaper, download your book, download your magazine,”
This is the problem with too many politicians. They believe innovation, while it is disruptive, is bad for America. Congressman Jackson, if we followed your logic, we would not have most of the modern conveniences that have actually fuel our economy, not crippled it. Also, you may want to consider getting your facts right. Borders did not go bankrupt because of the iPad. Borders went bankrupt because it could not compete in a world where their closest competitor, Barnes & Nobles, has been able to both innovate and compete against the real brick and mortar bookstore killer… the Kindle.
According to Reuters, Borders went bankrupt because:
Its inability to garner significant online business and its near absence from the growing digital books market have made it difficult for Borders to compete with larger rival Barnes & Noble Inc and online retailer Amazon.com Inc.