Wednesday, August 21, 2019Canada's Leading Online Business Magazine

June 12 Editorial

CBJ_June12_inside_2430905121

Started five short years ago, The Enbridge Ride to Conquer Cancer in support of Princess Margaret Hospital is already the single largest fundraising event in Canada in support of finding a cure to this insidious disease that has affected the lives of virtually everyone in some way or another. It’s extremely inspirational to see the number of people who take part not only in this event, but other fundraisers such as The Terry Fox Run, which began in 1980.

Last month, the Princess Margaret Hospital Foundation held a dedication ceremony to unveil a special monument outside the entrance to the Campbell Family building on University Avenue in downtown Toronto. The day marked an opportunity for CBJ to tour the facilities of this magnificent medical centre and get to witness some of the highly skilled and dedicated professionals in action. Highlights of that day are outlined in the pages of this publication. The Ride to Conquer Cancer from Niagara Falls to Toronto, June 9 and 10, is the fifth year of the annual event.

With a legal theme to this month’s edition, an exclusive with Canadian Justice Minister and Attorney General Rob Nicholson revealed that one of his main initiatives continues to be the strong support of laws for protecting children. While all violent crime is abhorrent, he noted there are none more despicable than those perpetrated on innocent children.

To all those who frantically purchased Facebook shares at $38 a shot during the IPO – on dreams of becoming rich – playing the lottery might better provide better odds. Through all the hype, hoopla and hysteria, one major noticeable flaw has remained constant and plainly visible in this business model, and yet has been largely ignored: How can Facebook generate any appreciable level of advertising revenue to make it an ongoing relevant and growing business resulting in profits to shareholders?

The only answers until now seem to have been: “don’t know” or even worse: “it likely can’t”. General Motors pulled out of an advertising deal with Facebook, revealing that the working relationship did nothing to improve sales. Facebook co-founder Mark Zuckerberg didn’t help matters during his visit to Wall Street when he quipped “Going public is an important milestone in our history. But here’s the thing: our mission isn’t to be a public company. Our mission is to make the world more open and connected.” Open and connected: great for social communication; not so great for shareholders. Then again, if you were the CEO in this scenario, would you be worried about pesky revenue models for your newly-minted public company when you just managed to solidify your personal fortune to the tune of about $18 billion?

Angus Gillespie

Recommended
CBJ_May12_7639513441CBJ_July12_inside_9704113941