Business magazines have hit a wall. Like many of the companies they cover, Forbes, Fortune, and the rest have gotten too big and too fat; they are in need of massive restructuring.
That's why I got so excited when I first saw The Red Herring, a smart, five-issue-old technology finance magazine, and Fast Company, a "New Economy" magazine that premiered in November with a slick prototype (its high-tone ads were not paid for). Both magazines are in the throes of start-up: When I called The Red Herring requesting the November issue, they rather sheepishly informed me it was three weeks late. And over at Fast Company, no commitments were made to a publishing schedule: Once feedback is gathered on its "beta" issue, Fast Company - backed by an impressive list of businessfolk - will go bimonthly sometime in mid-1994.
In the late '80s, Anthony Perkins's Upside gave the strange and silly world of Silicon Valley venture capital a unique and authoritative voice. Last year, Perkins left his brainchild (don't ask, it's a long story) to create The Red Herring, which takes its moniker from the preliminary investment prospectuses of the same name. With a clever, informed, and thorough editorial style, The Red Herring left me wishing I had money to invest in high-tech stock. In fact, reading The Red Herring is like having a smart, if narrowly focused, investment adviser on your desk every month (or so....). The Red Herring ain't slick, and the covers still suffer from Upsidis (silly cartoon caricatures of business figures), but it's worth the money.
Fast Company was founded by ex-Harvard Business Review editors. Its promise: "To be the first word in cutting-edge business thinking." Its aims are to "identify the values of the (business) revolution" and its commitment is "to merge economic growth with social justice, democratic participation with tough-minded execution."
In short, Fast Company aims to be the PC business magazine of the '90s, and by PC I don't mean personal computer.
With such lofty goals, you gotta deliver quite a compelling read. Instead, Fast Company is an amalgam of cliches (Business Is War, Managing Change, Create Healthy Tension) and, well, straightforward stories about successful, honest, hard-working, green, smart, young people. Yawn.
Memo to the editors of Fast Company: You've got a good concept, but don't overdo it. Get a sense of humor, for one thing - the best article was a spoof of modern-day leisure practices. And stop forcing your writers into using tired, Tom Peters cliches like "leveraging knowledge." If you tell a compelling story, readers draw their own conclusions. That's a good way to change the world.
The Red Herring: US$90 for 12 issues, +1 (415) 780 9070 , fax 1+ (415) 780 0539. Fast Company: US$29.95 for one-year charter subscription. (800) 505 3278, fax +1 (617) 497 1363.
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