Imagine if you could have foreseen just how successful Apple (Nasdaq: AAPL) was going to be at changing the music industry with the introduction of the iPod, iPhone and iTunes ecosystem. Or that folks would no longer run down to their local Blockbuster to rent a movie, but instead stream it over the internet — rendering DVDs all but dead. Of course, there are countless stories like these that illustrate how technological innovations killed off old stodgy companies and industries. 8-track and cassette tapes, VCR and DVD players, 3.5-inch floppy disks and developing film (Kodak) just to name a few. Read More
Imagine if you could have foreseen just how successful Apple (Nasdaq: AAPL) was going to be at changing the music industry with the introduction of the iPod, iPhone and iTunes ecosystem. Or that folks would no longer run down to their local Blockbuster to rent a movie, but instead stream it over the internet — rendering DVDs all but dead. Of course, there are countless stories like these that illustrate how technological innovations killed off old stodgy companies and industries. 8-track and cassette tapes, VCR and DVD players, 3.5-inch floppy disks and developing film (Kodak) just to name a few. Heck, even the pound sign is being replaced with the hashtag. #-ad_banner-#In hindsight, it’s easy to spot these major trend changes, but of course forecasting the next major revolution is never that simple. Just take Sirius and XM radio, for example. These two companies aimed to change the radio industry by providing ad-free music to consumers across the nation. This novel idea seemed destined to kill off traditional radio as we knew it. After all, radio hadn’t seen any major advances in decades, plus it’s annoying to hear your favorite AM or FM radio station fade away as you traverse… Read More