Sorry, but blogs aren’t, you know, *public* enough
If there’s an area where you can be sure for procedures to lag behind the pace of innovation, it is governmental regulations. Jonathan Schwartz has written an interesting piece on the requirements for public disclosure put forth by the Securities and Exchange Commission (SEC). Schwartz laments the fact that blogs and corporate websites don’t count as vehicles through which the public can be adequatley informed about things such as mergers or Sun’s quarterly performance. While the internet is not deemed suitable for disseminating that kind of information, the Wall Street Journal is. The fact that the WSJ is available only to subscribers (paper or bits) has not caused the rules to change… yet. It would surprise me (and Jonathan Schwartz, apparently) if the SEC didnt’t update its regulations fairly soon. There’s no need to play chinese whispers when you can talk to people directly.
