The following chart, courtesy of Linkedin, summarizes data in the Economic Report of the President, showing the growth or decline of various industries between 2007 and 2011. The sad news, of course, is that the newspaper industry is constricting. I believe, however, that we are going to see resurgence in the coming years, as papers reconfigure and discover how to make a profit in the digital market.
Pharma is also in bad shape. But just as with newspapers, if biopharmaceutical companies can figure out how to work efficiently when margins are thin and the risks high, they will come out okay. The “desires” that both industries address—the thirst for information and the imperative for good health—are not going away anytime soon. Anytime ever.
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