Creative Destruction
Disruptive innovators expose outdated methods of production. They create something new and in the process destroy the old.
Why are price signals and market competition so important to a market economy? When prices accurately signal costs and benefits and markets are competitive, the Invisible Hand ensures that costs are minimized and production is maximized.
Sears changed the way Americans buy consumer goods, its dominance of the retail landscape lasting for nearly a century. But the competencies needed to thrive in retail changed a few decades ago, and Sears failed to adapt — losing more and more ground to its rivals Walmart and Amazon.
A brief podcast that highlights the concept of "creative destruction."
On today's special interview episode, renowned media futurist Rich Greenfield returns to fill us in on the latest developments in the streaming wars and how these changes might impact viewers in the coming years. Greenfield is a media and tech analyst with BTIG who has been following the industry for decades.
What was the greatest invention of the industrial revolution? Hans Rosling makes the case for the washing machine.
It’s a stick with bristles poking out of it. It doesn’t even qualify as a simple machine, but the careful thought and design that went into the creation of the modern, angled bristle, fat handled toothbrush shows just how much brainpower goes into something that is designed to simply work well and not be noticed all that much (until it’s time to buy the next one).
A brief podcast that highlights the concept of "creative destruction."
On today's special interview episode, renowned media futurist Rich Greenfield returns to fill us in on the latest developments in the streaming wars and how these changes might impact viewers in the coming years. Greenfield is a media and tech analyst with BTIG who has been following the industry for decades.
Sears changed the way Americans buy consumer goods, its dominance of the retail landscape lasting for nearly a century. But the competencies needed to thrive in retail changed a few decades ago, and Sears failed to adapt — losing more and more ground to its rivals Walmart and Amazon.
From declining foot traffic to the rise of ecommerce, countless stores have permanently closed their doors for a number of reasons.
In 2018, more than 3,800 stores are set to close across the United States. In 2017, 6,400 stores closed. Malls are losing their anchor stores, and many are being abandoned due to the rise of e-commerce and declining foot traffic to malls.
Blockbuster went bankrupt in 2010 and Netflix is now a $28 billion dollar company, about ten times what Blockbuster was worth.
In 2000, Reed Hastings, the founder of a fledgling company called Netflix, flew to Dallas to propose a partnership to Blockbuster CEO John Antioco and his team. The idea was that Netflix would run Blockbuster’s brand online and Antioco’s firm would promote Netflix in its stores. Hastings got laughed out of the room.