Business, Innovation

So technology has evolved so much in the last century but in the last decade or so there has been a rapid increase in innovative technology that many industries either had to completely change their business model or had to go out of business eliminating an entire industry. The sign of entering of a new era is that when an industry either disappears or has changed into something new and better. Here are just some of the industries that went away due to innovations:

 

  1. Photograph industry

With the emergence of the digital age, came the digital cameras and photography. Companies like Kodak and Polaroid were no longer enjoying profits like they once used and Kodak actually had to file for bankruptcy. Polaroid was a popular brand for introducing instant photographs, but with digital photographs you could see photos instantly as well but with a better twist: you could delete the ones that didn’t come out right and can only get the ones developed that you liked and this was something Polaroid could never do. So the old ways of photography were chucked out the window as special photography softwares also came along. The traditional photography isn’t completely gone yet as there are many old school photographers still working in the red room but commercially, there has been a huge migration towards the digital side. People prefer to keep DSLRs now rather than a Polaroid or film reel camera.

 

  1. Video cassette & VCR’s

Video cassettes have been totally replaced by CDs and VCRs have been replaced by DVD players. And in many cases there has been a shift of going completely digital because people are switching from buying CDs to watching movies online. Companies like Blockbuster had to file for bankruptcy too because they didn’t change with the times. People started to download movies and purchase them online and new companies like Netflix offered its users to watch TV shows and movies online without even having to go to a store, so ultimately the video rental and cassette industry ended. Everything has gone digital, people make videos through their mobile phones and can easily upload them or burn them on CDs.

 

  1. Audio cassettes & CDs

Audio cassettes were already on the way out when CDs became popular. But nowadays even audio CD’s are getting less noticed as digital music is being preferred. The use of mp3 players like iPods and smart phones where you can easily download music is the trend now. Nobody uses CD players to listen to music anymore.

 

  1. Books

They haven’t become obsolete and many people have debated and argued that they will never completely be out of fashion but with the invention of reading tablets like iPads and Nook more and more people have started to download e-books. It saves people space and they have the added advantage of carrying around their entire library in a thin device that they can read anytime and anywhere, even in the dark. The publishing is also taking a huge shift towards the digital side.

 

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