What does it take to humble the CEO of a multi-billion dollar technology company? Well, according to Cisco CEO John Chambers, it’s having your company added to the Dow Industrials.
The fact that Cisco replaces one-time powerhouse General Motors on the elite list of U.S. corporations is a clue about the direction the economy and the markets are taking. Computer networking technology is replacing cars as one of the driving forces of the economy.
Being added to the Dow is “a tremendous honor … [but] very humbling,” Chambers told a group of international reporters today at the Cisco Partner Summit in Boston.
“GM is a great company, always a great customer, and a very very good partner,” Chambers said, adding that everybody at Cisco knows somebody at GM. “It’s an icon.”
Chambers prediction for the direction of high tech: Video will make up 90% of all network traffic in two years. Is your IT team prepared for that?