At Columbia Business School Sunday, New York Times Co. President and CEO Mark Thompson spoke to new MBAs about "conventional wisdom and all the apparently excellent advice that flows from it."

Take my industry. The movies are finished. TV advertising is dead. Exactly what happened to music will happen to TV. Nobody wants news anymore. No one will ever pay for anything on the internet. Not just said, but said widely and widely believed. And – for the most part and within the time horizon which the prophets themselves were suggesting – just plain wrong.