Quote:
Originally Posted by AnemicOak
By saying it was a mistake to expand into digital devices I think he just meant that the way they went about it was a mistake. Instead of rebranding a Netronix or Hanlin device like they could have they went whole hog on designing and trying to out innovate others like Amazon & Sony. That's a very expensive thing to do and requires a lot of development and a lot of extra employees.
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That requires a bit more nuance than Riggio has previously demonstrated.
You are right, of course, that the way they went about it was totally bass ackwards, but he more likely means it literally. Like the roman emperor moaning about his lost legions, Riggio is pining for the money lost in inventory mismanagement more than for the lost opportunities to be a "contendah".
Over the last seven years Nook has faced over a dozen decision points and in every one of them they made exactly the wrong choice. A couple of them are only known to have been wrong in hindsight but most of them were questionable at best (and were questioned) at the time. (Like who really thought trying to undercut Amazon on reader price could possibly end well?)
They were simply out of their depth.