Transforming Business

On Business Insider, P&G To Lay Off 1,600 After Discovering It's Free To Advertise On Facebook:

P&G said it would lay off 1,600 staffers, including marketers, as part of a cost-cutting exercise. More interestingly, CEO Robert McDonald finally seems to have woken up to the fact that he cannot keep increasing P&G's ad budget forever, regardless of what happens to its sales.

He told Wall Street analysts that he would have to "moderate" his ad budget because Facebook and Google can be "more efficient" than the traditional media that usually eats the lion's share of P&G's ad budget.

You have a right to get mad about opposition to SOPA and PIPA, but unless that quote gets you riled up, you're a hypocrite. The Internet, like many technologies of the past 150 years, is shaping culture and commerce. You can ride the wave, or watch it pass by. Just don't waste your time trying to stop it.

Via @prwood.