As in the show Game of Thrones...
I read a post today by @taskmaster which talked about the cycles of businesses, and how they die if they fail to adapt and change. It remainds me of Giants of the Industry of the past. And how they seems so large and pervasive, that we could never imagine life without them.
BlockBuster Movies
I specifically remember a company called BlockBuster.
A business which rented movies for the weekend. BlockBuster even sold popcorn, soda and candy at inflated prices, but it was a convenient one stop shop for everything you could get at the movie theater, without the hassle of the movie theater.
BlockBuster became an American Institution.
BlockBuster was the place that mothers and fathers stopped at on their way home from work on Friday, to pick up a movie for 5 dollars. Then that movie would entertain the family on what became Family Movie Night.
BlockBusters were everywhere
Blockbuster Stores existed in every major city, and in all fifty states of the US. It was so prevalent that the name itself became associated with watching movies. And instead saying are you staying home to watch the latest movie, people would just say they were having a BlockBuster Night. It was NetFlix before Netflix was a thought in it's creators mind.
Change is inevitable, adapt or die
But consumer tastes and habits changed. People stopped wanting to stop at BlockBuster on the way home from work on Friday and again on Monday to return their rented movie. Ironically, what started out as a very convenient way to watch the latest and most popular movies in your own home, sitting in your comfortable chair.. became a chore, instead of a joy.
The rise of takeout and delivery
Americans changed, and they wanted their movies delivered to their home. They wanted their food delivered to their homes via TakeOut. They wanted their shopping merchandise delivered to their home via the mail, and soon thereafter special couriers.
The fall of BlockBuster
Blockbuster became a "poster child" or what is now called a "meme" for the death of big brick and mortar stiores which relied on foot traffic. In metaphorical terms: Large retailers fell like dinosaurs before the ice age, as consumer attitudes toward movies, food and merchandise changed in what seemed like weeks. Big brick and mortar stores which depended on foot traffic saw their customer numbers fall to zero, i what seemed like overnight. And they disappearred from the retail landscape, and it became as if they never existed.
Netflix Who??
BlockBuster sneered at Netflix as a potential competitor, and claimed they had never heard of the company. BlockBuster executives pretended they couldn't even pronounce the name.
Now Netflix has completely replaced BlockBuster in the minds and hearts of consumers. In fact, if you ask a teenager today who BlcokBuster was you will probably get a blank stare, as they have never heard of a retailer which once inhabited the main street of towns and cities across America.
To Big to Die.
I often hear that statement, and I am reminded one of a company called IBM, or international business machines. IBM wsold computers and computer software across the globe. It was GLOBAL. BLOCKBUSTER was huge in America, IBM was huge in the world.
It too had office buildings in every major city across the world. Its' intials IBM became synonymous with business equipment. They held such a hold on the market and minds of the consumer, that personal computers were called an IBM PC.
Metaphorically speaking, this once huge and globally dominant computer hardward and software retailer was like a Tyranasaurus Rex; eating everything and fearing nothing. In the ultimate display of hubris, all IBM buildings were typically the color of gold. As the company was rich beyond imagination.
IBM fell before the winds of change. To bug to pivot, turn or change. It exists now, as only a peanut sized reminant of the once great beast which once dominated the earth.
Last Words
I have seen the advent of the fax machine, the cell phone, the personal computer and the internet.
Each was a technological revolution more advanced then it's predecessor.
And these technologies killed their predessessors who previously appearred invincible.
They didn't do it over night.
But when their predessessors were gone, people felt like their predessessors deaths were swift and quick.
But ironically they weren't, it took time to develop and spread, and be adopted.
But each was adopted faster then the previous, as peoples appetites for the new thing has grown.
But remember that each of these technologies were plagued by false starts, failures and frauds in the beghinning.
Does that sound fanmiliar?
FADS and FRAUDS.
Winter is coming
Winter is the blockchain, the next big technological development. It is a great beast like the Dragons in Game of Thrones. And all retailers which don't get on it and learn to ride, will be trampled by it.