Same stories as the newspapers. Most died (or were consolidated) since they didnt see the Internet as a threat. It is now more than two decades since the Internet started and there are still newspapers but they are dying. They are only around, in my opinion, since there are still people who read them. Give it another couple decades and they will be toast.
The same is true for the banks. It will take a while. However, they were already hit in many ways by FinTech where sectors of their business were taken over by non banks. In the US, more than half the mortgage industry originates outside the banking sector.
Hopefully your friend listened to you and bought Bitcoin and ignored the banker's proposal.
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What will keep the money printers fraction from taking over by force, or at least attempt to. I've witnessed the biggest disinformation campaigns going unchecked over the last few years, none would have ever thought things like that would ever be possible. It's scary, nothing is won until the last battle is fought.
It all depends on us - we are the economic powerhouse, but it hasn't been until now that we have been able to organize ourselves, collaborate and innovate for our own good, without having some authority to answer to for every step, each taking a cut. It is about supply and demand and we need to demand better and since activity is driven by incentive, we must incentivize for better. No one will do it for us.
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The disinformation campaign was going on for the past few decades. The push to a world government is at the core of a lot of what we are seeing. It is crucial that the failings of Europe and the EU experiment.
It will be a daily grind to keep moving more activity to decentralized systems. It will take a while since more infrastructure and applications needs to be built.
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Germany had the same Chancellorette for 20years in a row, that's how smart people 'vote' down here. Can you believe that?
Yep. I used to train at the second largest paper in the country and I asked them what they were doing to engage the young readers - nothing. In the past, there used to be games and things for kids to do on a Sunday morning while their parents read, but digital took out the need and kids no longer have that "sentimental" attachment.
It is going to be interesting how traditional investors deal with the changing money flows. What used to be their bread anbd butter might get volatile or, just be left by the wayside.
Unfortunately not.
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So it comes to this...someone has built up momentum for them. They learned how to ride that momentum but not how to maintain it or how to increase it. Friction takes its toll. Friction is almost always out of the equations that we make.
Innovative corporations often end up in problems as they grow, as they start to hire for maintenance of the market, not innovation in the industry.
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Well, it's kind of normal to have a period during which you capitalize on your successful innovation. Still, you can only do that for a while. While it's interesting to you audience. But you should not bore them. The thing you shared about that R&D team...It certainly seems like a good wtf revelation.
You had a front row seat for two major collapses: Nokia and Newspapers.
Amazing how people can miss something that affects their industry.
I was in the copier/printer industry for a couple decades and since 2015 told people the industry is toast. Few, including my boss, believed it.
COVID accelerated a process that was already in place. The company I worked for, well the division, is half the size it was a couple years ago.
That is not a sign of an expansive, growing industry.
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I think it is much like people trading, where they focus on the daily ups and downs, while missing the macrotrends of their industry. Many will look at the 20% market dip today and feel the pang of fear, but forget about the 1000% rise in the last 12 months.
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