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| This is not simply the Information Age |
May 1, 2001 |
By: Steve Dietrich
This is not simply the Information Age, but rather the age of business information. No longer is coverage of the economy relegated to the business pages of the daily newspaper and to a few special-interest magazines. Instead, the lead story on the front-page of our national newspapers is often a report on the latest breakout, or downturn, in the stock market. Meanwhile, hours of television programming, indeed entire TV networks, are now devoted to up-to-the-minute business news. And the Internet, the focus of so much of the coverage, has itself become a vital organ of business news, analysis and gossip.
In light of such saturated and instantaneous coverage, the existence of a bi-monthly magazine such as Backbone might at first glance seem like a throwback to a less frenetic age. But take a closer look. Our mission is to bring you the stories that the networks and the newspapers either don’t report or don’t report in-depth.
Backbone’s aim is to provide value-added content. We want to inform you about emerging companies you may not have heard or read about elsewhere; we want to alert you to trends in the Internet economy that haven’t been factored into today’s closing market prices. We’ll even feature the occasional exposé.
In our cover story, for example (see page 28), we reveal one of the pitfalls that await anyone selling on the Web—the prevalence of credit card fraud. As writer Andy Pedersen states, “It’s the dirty little secret of e-commerce.”
You may wonder about Backbone’s intent here. Are we discouraging e-tailing? Are we promoting theft? Absolutely not. Our task is to inform you about both the prospects and the perils of e-business. The fraud issue should be of vital concern to all e-tailers, and we aim to make them aware and prepared.
We’re also keen to question the conventional wisdom of the e-marketplace. It’s been widely reported, for example, that online banking by Canadian consumers has doubled in the past year. Yes, millions of Canadians participate in Web banking and adoption rates are growing. But as Geoff Dennis reports (see page 40), upon closer inspection, the banks’ Internet success is actually less impressive than it appears.
The reality is that most consumers limit their online banking to simple transactions. For more advanced needs, they still tend to favour flesh-and-blood advisors. Of course, these are early days. High-speed access needs to be more widespread and users need to build up their comfort levels. But the banks have got some adapting to do, too.
At Backbone, we aim to provide an overview that can help you make the best decisions for your business— whether you’re a big player, like the banks, or an emerging company. In our pages, you’ll read about key topics, from legal issues (page 38) to business-to-business developments (page 36) to investment recommendations (page 48).
While Backbone focuses primarily on Canada, we realize that the Internet economy is a global, border-free market. We therefore are eager to provide insights into developments abroad. In our last issue, we examined the state of e-business in Europe; this month, our focus is on the prospects in Latin America (see page 24).
Let’s not forget, however, that the New Economy isn’t all work and no play. For those of you looking for some downtime, check out our regular Net Escapes section, which features a blend of travel, leisure and lifestyle coverage for today’s Net enthusiasts.
On page 58, we profile the online efforts of some of Canada’s leading hotels to make your stay as seamless as possible, whether you’re preparing for that big meeting or kicking back to surf the Web.
We know from your phone calls, letters and e-mails that you’re enjoying Backbone’s editorial mix. That’s warm comfort indeed in the midst of these exciting and sometimes bewildering times. Backbone, moreover, intends to keep on learning and improving. So please keep on sharing your thoughts as we continue to report on the strength of e-business.
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