Here’s a classic snapshot of an industry that is realizing its world is changing, that the big players may not survive and the people they employ don’t possess the skills necessary to compete in the new world.
The interesting thing about disruptive change is that it’s happened to lots of different industries before and the overall pattern is relatively predictable (although details and timing are not) but none of the top people in an industry being disrupted ever seem to believe it can happen to them. Denial is death under those circumstances.
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