A surprisingly engaging book for required reading. Wu begins by detailing the birth of the telecom giants of the 20th century — AT&T's telephone system, the film empires of Hollywood, and the radio and later television networks of NBC and CBS — and how they demolished, and then supplanted, the previous monopolies of Western Union and Edison's movie companies. Wu studies these companies in the light of Joseph Schumpeter's economic theory of "creative destruction". The book finds a number of faults in attempting to apply Schumpeter's theory to the rise of the Internet without modification; while the theory seems to apply superficially, Wu argues, the resurgence of the media empires of the 20th century — this time as octopus-like media conglomerates — shows that Schumpeter's theories require considerable revision.

Wu's choice to begin his book with the David-and-Goliath story of Alexander Graham Bell and his fight with Western Union to establish a telephone system was, while not uniquely inspired, nevertheless a wise one, providing that eternal appeal of the underdog. The middle of the book, depicting the corruption of the empire's enlightened dictatorship and their eventual downfall, makes for equally engaging reading. Unfortunately, Wu's argument seemed to lose steam as it approached its conclusion. I'm not sure if this is a legitimate fault of the book or due to my own sense of urgency in completing it, but I would gladly give it a second read to make sure. I was also somewhat dismayed that Wu never covered the resoundingly successful efforts to crush grassroots initiatives for municipal computer networks; I feel this would have proven another important parallel between the birth of the telephone and the birth of the Internet. Overall, though, The Master Switch is an engaging story of corporate empires both newborn and born-again, as well as a compelling call for vigilance as the Internet continues to integrate itself into our daily lives.