Two industries wiped out by creative destruction, two more in process of shrinking, and two nominations for next industries to get disrupted.
There is a lot of massive disruption from the technology revolution. That is going to continue. What are the threats in your industry and what opportunities might open up?
Consider the turmoil in these industries:
- Lots of people are cutting their cable connection.
- Phone lines too – over half of US homes don’t have a landline.
- Creative destruction: Video rental stores and chain bookstores as illustrations of how fast entire industries can be taken out.
- Nomination for next industry ready for disruption: Malls? Local real estate agents?
Two shirking industries
5/3/17 – Fast Company – Cord-cutting spikes fivefold in cable TV’s worst quarter ever – Tally of people who cut their cable connection increased by a factor of five in the first quarter of 2017 compared to 2016.
An accelerating number of folks are dumping cable and getting all their entertainment directly from the net. Seems like a person could get whatever entertainment desired from Amazon, Hulu, Netflix, specialized sports services, and dedicated on-line channels.
5/4/17 – Live Science – Hanging Up on Landlines: Most US Homes Are Now Cellphone-Only – Survey by CDC during last half of 2016 shows that 50.8% of US households do not have a landline. Those homes use cellphones only.
That is an increase of 2.8% from the previous year. Over half of houses now are without a landline.
Look at the cellphone-only percentages by various demographics: