Hollowing out the backend

Alan T. Saracevic in Chronicle on Clayton Christensen

Christensen believes that Bloomberg News is in the process of taking over the business normally done by banks and trading firms through the use of disruptive technology.

The gathering of information and analysis, once the domain of investment banks, is now available to many more people through the use of Bloomberg terminals. The media firm encroached even further when instant messaging on the machines allowed people to order trades. That will start to take another function out of Wall Street's hands. And so it will go while the institution holds on to its old ways.