As often happens when doing research, I got a bit sidetracked today. I was ostensibly reading up on professional ethics for librarians (it was thrilling, trust me), when while reading a 1991 article on that topic my eyes came to rest on an ad for the Bureau of Electronic Publishing. They were selling Pioneer CD-ROM changers (data, not audio) and rather expensive reference works on CD-ROM, e.g.- Languages of the World for $899 and the OED for $929 (steep discounts if you buy the changer, too!!!). Beyond their somewhat highfalutin' name, they had a silly logo that reminded me of the FBI emblem. They also had, at the time, millions of dollars in sales.
This was only 1991, remember. We were still a few years away from the commercial Web, but the foundation was already being laid. It really wasn't all that long ago, and yet this ad made me feel like I was looking at the Sears Catalog from 1903. Ooh, hair tonics and wired corsets! Incidentally, the last Sears catalog came out in 1993.
Only eighteen years later, both the products in that ad and many of the companies that sold them are practically gone from the face of the earth. The CD-ROM still lingers, but it's like watching the last dodo wandering around looking for a mate. Those changers lie in discard piles in libraries or are being torn apart in toxic dumps around the world for the copper and other bits of useful metals.
What of the Bureau of Electronic Publishing? In the mid 1990s, they went public (NASDAQ: BEPI, now defunct), paid dividends on their stock, but within a few years, they were gone. Their end came, oddly enough, through a practice known as a reverse merger, where a foreign company in a growth industry uses the shell of a dying American firm for its legal status so that it can enter the US market without going through all of the red tape. In this case, a company known as Pacific Chemical came into being, which ran a large chemical plant in China that produced a key component of polyester fibers. That's pretty far from hawking CDs to libraries, and a bizarre ending to their story. Can't help but see in this tale a metaphor for so much of our economy, but that's another research project.
Eighteen years. To say that we live in times of rapid technological change has long since become cliche, but that doesn't mean it's not true. What are we doing today that in eighteen years will look as silly as CD-ROM towers?
Recent Comments