devoted to covering the New Economy
, and whose thickness varies with the
fortunes of the dot com
s buying ad space.
FC was launched in 1995
by two former Harvard Business Review editors (Alan M. Webber and William C. Taylor) who
wanted to chronicle
new business model
s, business leader
s, and best practices
focuses on cutting-edge
business practices and is aimed at an audience of business professional
s (also known as entrepenerd
passed 500,000 readers in 2000.
In addition to the magazine, FC supports live events, a Web
site, and a global network
of loyal readers semi-organized into Maoist
cells (The Company of Friends
The magazine can sometimes have a split personality, with the front half showcasing
modern companies and business practices that nurture, retain, and develop talent (New Economy speak for "labor" or
"employees") with an emphasis on teamwork and creative "thinking outside the box", while the second half helps you reinvent your old economy self into a "change agent" workplace superstar who, should management
cut you loose, could skip merrily along to the next phase of their career. You are responsible for your own career success, in other words. (Apparently, loyalty is
"old economy," and "collective bargaining" is downright medieval).
At the end of 2000, Fast Company was acquired by Gruner and Jahr USA Publishing, a subsidiary
of Bertelsmann AG, for US $360 million. Previous majority owner Mortimer Zuckerman must be relieved to have the grim reaper of dwindling advertising revenue off his back.
David Carr, "Fast Company's New Life in the Slow Lane," New York Times, August 11, 2003.