John L. Flannery Quotes
There will be no cost drag from digital by 2020.
Flannery, John L. "GE Investor Update Presentation." GE Investor Relations, General Electric, 13 Nov. 2017.
A startlingly bad prediction by a Nobel-prize winning economist particularly given it was stated in 1998 rather than a much earlier date when the potential of the Internet wasn’t already apparent. Ironically, the quote is from a Red Herring article he wrote titled “Why Most Economists’ Predictions Are Wrong” in which he asserts that most economists predictions are wrong because they overestimate the impact of future technologies. This quote is part of a longer, equally incorrect quote: “The growth of the Internet will slow drastically, as the flaw in ‘Metcalfe’s law' becomes apparent: most people have nothing to say to each other! By 2005, it will become clear that the Internet’s impact on the economy has been no greater than the fax machine’s.” See related quotes.
John L. Flannery (born 1962) is an American business executive. He succeeded Jeff Immelt as the eleventh CEO and tenth Chairman of General Electric, serving as CEO from August 2017 until October 1, 2018, when he was fired "effective immediately". Prior to ascending to the CEO role, Flannery held leadership roles inside GE for nearly 30 years, heading GE Healthcare, GE India and other business units throughout his career.