Technology: Do Not Overlook This Point Of View
(Edited)
Many have suffered the fate of overlooking the impact of technology over the last 15 years. The number of individuals who suffered due to misreading what was taking place is growing.
In this video I discuss how it is vital we always look at the technological component of things. This affects our investing, careers, purchases, and individual businesses. To overlook it could put people in the situation like Blockbuster, Kodak, and a host of other companies that were "teched" out.
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You don't think multi billion dollar contracts with the US military helped Amazon, Google and Apple have access to tax payer resources, politicians and classified tech not available to smaller companies?
Also Blockbuster and its employees knew that technology beat them out before google even bought youtube.
Monopolization and unfair government contracts has allowed for smaller companies get forced out of business because they don't have 80 mill they can casually put towards an app.
But I digress thank you for your time!
True, it’s an unfortunate error that Blockbuster, once with stores in thousands of cities, seemed to disappear overnight due to technological obsolescence. But it wasn’t overnight, and the bank employees and other similar jobs won’t disappear overnight, but one day we will look around and they will be gone.
I agree that while Blockbuster can be forgiven somewhat for being one of the first nationwide companies to suffer complete anniliation at the hands of technology, others in our current age act as if they ignore technology it will go away. For them I will shed no tears.
You are right, the march of technological advancement is unstoppable and the dust of technological obsolescence litters the landscape.
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Summary
In this video, the speaker discusses the importance of understanding and adapting to technology in various aspects of life, such as business, career, investing, and personal life. He emphasizes the significant impact technology has on industries, citing examples like the decline of Blockbuster, AT&T's long-distance service, and the music industry. The speaker predicts a future where industries like car dealerships and traditional banking will be disrupted by technological advancements. He also touches on the concept of the technological J-curve, explaining how initial declines in productivity are followed by significant advancements once technology is properly integrated. The video concludes with a call to pay attention to emerging technological trends to stay ahead in an evolving world.
Detailed Article
In the video, the speaker delves into the increasingly important role of technology in our lives, urging viewers to recognize its pervasive influence. He criticizes entities like the Federal Reserve and major corporations for failing to grasp the impact of technology. Drawing parallels to companies like Blockbuster and AT&T, he underscores the dire consequences of overlooking technological advancements.
The speaker highlights the evolution of technology in various sectors, stressing how it has revolutionized industries like entertainment, agriculture, manufacturing, and telecommunications. He provides examples like the rise of streaming services impacting DVD rentals and the decline in traditional bank branches due to the shift towards online banking.
Moreover, the speaker discusses the potential obsolescence of certain industries like car dealerships, emphasizing the growing preference for direct online sales by companies like Tesla. He predicts a future where technology will continue to disrupt traditional business models, transforming the way industries operate.
Additionally, the speaker introduces the concept of the technological J-curve, explaining how companies can initially struggle with technology implementation before experiencing exponential productivity growth. He encourages viewers to understand these technological trends to anticipate future developments accurately.
In conclusion, the video serves as a poignant reminder of the critical importance of embracing technology in all facets of life to navigate an ever-changing landscape successfully. The speaker's insights shed light on the profound impact of technology on industries and the necessity for individuals and businesses to adapt to stay relevant in a rapidly evolving technological era.