Posted by Jeff Klabish
JP Morgan’s announced at the beginning of 2016 that it was going to replace all of their Bloomberg terminals; the contract value of which is tens of millions each year. This is another unfortunate example of how great companies can still get blindsided by market conditions or competitive moves. Like Montgomery Ward, Sears, JC Penny, and a host of other technology companies, Bloomberg rested on its superior brand and product position. After all, who could live without a Bloomberg terminal? The competition, however, was not sleeping, but working hard. And now, the competition is so strong that Bloomberg may end up in significant financial peril.