As readers of this site know, I strongly believe that we are now in the middle of a major overall shift in economic trend that hasn’t been seen since the introduction of the paper bill in late 1700s england. Seen under this lens, I’m starting to think that there may be some truths to the claims that some of the traditional industries are making that their business is getting hurt by new technology. Their business is getting hurt but it’s not because of any particular evil on the part of Internet companies. The truth is that the reason those industries are starting to suffer from the propagation of Internet technology is that their traditional business models were based on inneficiencies in the market.
Photo by ccho.