In business school they had me read The Innovator’s Solut!on by Clayton Christensen. It wasn’t as profound of a read as my corporate entrepreneurship professor believed it to be – Clayton stated that Black Berry phone didn’t have a camera because it didn’t aid in the core function the end user needed (i.e. business). Boy was Clayton wrong….especially now.
Nonetheless, at one point non-telecomm companies that are now synonymous with telephones (e.g. Apple, Samsung) were merely new entrants into the hyper-competitive cell phone industry.
This kind of changing of the guards happens all the time in all industries. The latest well-known casualty, Blockbuster, is now closing. One thing Clayton did correctly observe is that disruptive technologies often debase established business models. We will see how Amazon Prime, Netflix, etc. all fare in this brave new world.