This is what the destructive part of creative destruction looks like. Creativity producing amazing new stuff is the upside.
Amazing new services and products arising from the technology revolution are a delight every day. We are all benefiting from astounding stuff. Tons of entertainment options on the ‘net. Astounding capabilities for our smartphones.
The downside is companies that can’t keep up are getting swept away. The people and space involved in old stuff can be reused in new services. That is creative destruction.
5/31/17 – Fortune – RadioShack’s Tweets Offer a Bleak Look Into the Retailer’s Demise – Over Memorial Day weekend, RadioShack had a liquidation sale at over 1,000 of its retail stores. After closing those locations, there will only by 70 corporate owned stores and 500 dealer owned stores left.
Sales dropped from a peak of $6.3B in 1996 to only $3.5B last year, due to the company not being able to counter the shift to on-line sales.
Consider the missed opportunities, from a comment by Stephen Green at Instapundit: