The myth of disruption
Independent Financial Research
Disruptors aren’t visionaries, just people that give the customers what they want. Capitalism has been doing it for centuries. If there was a gong for buzzword of the year, then this year my bet would be on ‘disruption’. There’s nothing new about disruption. History is full of examples of businesses superceeded by better ways of doing things. The car replaced the horse, putting an entire trade out of work – blacksmiths - but creating panel beaters, mechanics and the rest. Scribes who once did a roaring trade producing books for the wealthy but were eventually replaced after Gutenberg hit the market with his printing press. In 1991, Kodak (NYSE:KODK), considered one of the world’s most innovative companies, had revenues of over $15 billion. Digital cameras and smart phones have reduced that sum to $1.8 billion, and only then after a brief fling with bankruptcy. Continue reading article... (VIEW LINK)
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