Trapped in the valley of death

Mathew Ingram:

"[N]ewspapers in particular have been trapped in a classic “innovator’s dilemma” as described by Clay Christensen in his book of the same name, in which they have failed to adapt to the web as quickly as they should have because they have been busy running their existing businesses."

That is certainly in evidence at our local daily, although I would put it a little differently: it is not the failure to adapt to the web quickly that has our newspaper mired in the valley of death (they actually dove into the web early). They missed the innovating part—continue to miss it—by failing to leverage their old infrastructure into a new model. At some point, there will be nothing left to leverage.