There’s a cinema in south-east London called Peckhamplex, which is one of my favourite places in the world. Set on the bottom floor of a car park, it’s a kind of faded 1990s dreamworld. The colour scheme is lurid, the typography can only be described as “funky”. At first glance, the aesthetic looks like it could be an affectation, marketed to affluent Time Out readers as a “retro-style cinema” selling gourmet popcorn and themed £13 cocktails with names like “The Mia Wallace”. But in fact it’s looked this way since it opened in 1994. Even better than the way it looks, however, is the price. Every film costs £5 and that’s reflected in the demographics of the people who go there. It’s a place that serves the community, but not in a lofty or improving way: sometimes people just want to take their kids to a Marvel film without
IBM is splitting itself in two, spinning off its legacy technology services business to focus on cloud computing and artificial intelligence, a move that reflects how decisively computing has shifted to the cloud.
The split is IBM’s effort to grab more of that fast-growing business and thrive amid the market leaders, Amazon Web Services, Microsoft and Google.
The business retaining the IBM name will include its cloud operations, along with its hardware, software and consulting services units. They represent about three quarters of the current company’s revenue.
The business to be spun off, in a company that has not yet named, is IBM’s basic technology services business, which maintains, supports and upgrades the computing operations of thousands of corporate customers.
That business is sizable, with sales of about $19 billion a year, but it’s not where the growth opportunities lie in the technology business.
The split comes as