Quote of the Day (John Thornhill, on the Implications of This Weekend’s Biggest IT Outage in History)

“Much has been made of the supposed deglobalisation of the world economy as physical supply chains have been unwound and reshoring of manufacturing has become fashionable. But in the digital realm the opposite is true: the global economy has become ever more interconnected. Mainly US and Chinese software and digital services have been embedded in the operations of millions of organizations and the daily lives of billions of individuals. Globalisation may be slowing down, but e-globalisation is still accelerating. It is essential that, as far as possible, its dangers are minimised.”— Innovation editor and tech columnist John Thornhill, “Blue Screens of Death Need to Minimise Risks From E-Globalisation,” The Financial Times, July 20-21, 2024