May I add - Fairfax has failed to take full advantage of online advertising per se, failed to link its hard copy publications with its internet assets for optimal mutual benefit, and over paid for its online buys.

Reason - they’ve never had decision makers with the capacity to understand a changing world, or prepared to listen outside of a small circle of advisors equally lacking the capacity. And they have not been prepared to take small risks, experiment. Big risks of course was par for the course.