After taking a beating for its terrible Bitcoin piece, it turned out that it wasn’t the first time that Newsweek published silly stories. In 1995 Newsweek published an article by Clifford Stoll, predicting that the future of the Internet was “baloney”. Stoll wrote the article Why the Web Won’t Be Nirvana in Newsweek, which includes this great analysis regarding the Internet’s potential:
Then there’s cyberbusiness. We’re promised instant catalog shopping—just point and click for great deals. We’ll order airline tickets over the network, make restaurant reservations and negotiate sales contracts. Stores will become obselete. So how come my local mall does more business in an afternoon than the entire Internet handles in a month? Even if there were a trustworthy way to send money over the Internet—which there isn’t—the network is missing a most essential ingredient of capitalism: salespeople.
Looks like he didn’t predict his predictions floating around on the Internet.