Roger Schawinski's memory lapse
Guest commentary Raymond Lüdi finds it audacious how the ex-initiator of "Money 24" has subsequently made a name for himself as an Internet skeptic.
Guest commentary Raymond Lüdi finds it audacious how the ex-initiator of "Money 24" has subsequently made a name for himself as an internet sceptic.yet another new book by Roger Schawinski has been published. The topic: the burst New Economy bubble. According to his own statements, he wants to know more about the background to the hype and the reasons for its failure. Although Schawinski describes himself as a "long-serving Internet sceptic" in the Tages-Anzeiger, he seems to have forgotten that he wanted to launch "Money 24" in 2000. A multimedia project that was to include a stock exchange trading platform on the Internet and a television channel. The company's main source of income
would have been the income from online securities trading, budgeted at CHF 10 to 12 million per year.
The trade press was euphoric: "Schawinski surfs the multimedia wave" or "Engagement of web and TV" were the headlines in the industry magazines. The broadcasting license for "Money 24" had already been granted and the head of the project had been appointed, but the launch was delayed for months until the project was completely buried. There were already too many similar projects - he would have wanted to, but it just wasn't enough.
Nevertheless, the book author said in an interview with Moneycab these days: "Precisely because I never took part, it was a little easier for me than for others. I'm a journalist who was able to research without being involved." After all, he is not alone with his memory lapse. The Moneycab journalist heard about Schawinski's
never heard of the former New Economy Ventures. That makes knitting your own legend much easier.
PS: If Schawinski really was such an Internet skeptic, did the launch of "Money 24" only serve to fuel stock market fantasies for an imminent going public of his company? In 1999, Credit Suisse acquired a 40 percent stake in Schawinski. The subsequent exit via the stock exchange was the bank's declared goal - Schawinski would certainly not have objected.
Raymond Lüdi was editor-in-chief of Media Trend Journal for six years and is now a freelance journalist. His book on the role of the media in the Internet hype will be published in the next few weeks.
would have been the income from online securities trading, budgeted at CHF 10 to 12 million per year.
The trade press was euphoric: "Schawinski surfs the multimedia wave" or "Engagement of web and TV" were the headlines in the industry magazines. The broadcasting license for "Money 24" had already been granted and the head of the project had been appointed, but the launch was delayed for months until the project was completely buried. There were already too many similar projects - he would have wanted to, but it just wasn't enough.
Nevertheless, the book author said in an interview with Moneycab these days: "Precisely because I never took part, it was a little easier for me than for others. I'm a journalist who was able to research without being involved." After all, he is not alone with his memory lapse. The Moneycab journalist heard about Schawinski's
never heard of the former New Economy Ventures. That makes knitting your own legend much easier.
PS: If Schawinski really was such an Internet skeptic, did the launch of "Money 24" only serve to fuel stock market fantasies for an imminent going public of his company? In 1999, Credit Suisse acquired a 40 percent stake in Schawinski. The subsequent exit via the stock exchange was the bank's declared goal - Schawinski would certainly not have objected.
Raymond Lüdi was editor-in-chief of Media Trend Journal for six years and is now a freelance journalist. His book on the role of the media in the Internet hype will be published in the next few weeks.
