As I look at the various industries that have been disrupted by technology or a business model fueled by technology already, a pattern is emerging that is very hard to miss. If the human race continues to innovate and introduce disrupting technologies at the pace that it has been in the last 10 years, I suspect that we are going to seriously disrupt a few more industries as we know them today. Here are 8 Industries That Will Be Extinct By 2025. A couple these may still be around but it will be hard to recognize them.
8 Industries That Will Be Extinct By 2025
9 out of 10 people I asked about their take on eBooks tell me that they have completed stopped buying paper books. In most cases only paper books they prefer to keep are the ones with some sentimental value or digital versions of those books are not available.According to Megellan Media article, “The shifts in sales for print formats were not trivial. Revenues from hardcover sales dropped $500.5 million (6.9%). Softcover sales fell $688.6 million (9.6%), while mass-market revenues declined by $780.7 million (48.0%) Ebook sales increased $2.35 billion, more than offsetting the combined $1.97 billion drop in physical sales.”
2. Notebooks and notepads
As the experience of using digital pens and pencils becomes better than writing on a paper and as the performance of such gadgets improves and prices drop, paper notepads are soon going to be extinct.
3. Post Offices
USPS recently reported nearly $2B in quarterly losses. I haven’t been to a post office in ages. The real question is what to do with all that prime real sate?
4. Taxi franchise
Its pretty obvious that the Taxi industry especially the taxi franchise model is near extinct. I suspect Taxi service will still be around but it will work and behave a lot like Uber and Lyft.
5. Car ownership
The Shared economy or social economy has forever changed the consumer world. BMW and other car makers are already experimenting with shared cars and pay-per-use. People will still own vintage cars and cars they have sentimental values attached to but, with services like GetAround.com, owning a commute car is going to be the thing of the past.
6. Desktop computers
Is anyone other than audio engineers, video editors, and graphic designers using desktops? Okay perhaps there will be some gamers who would still prefer to build their own desktops even though the gaming consoles these days are pretty powerful and versatile.
7. DVD’s USB and Flash drives
Did you know that 2016 cars are still shipping with a CD/DVD player? I don’t remember when the time I used one of those. With everything moving to cloud, including backup storage, I don’t ever see a need for carrying one of those USB flash drives.
8. Film Theaters
$18 for a movie ticket, $100 for popcorn, and $150 for a fountain drink. Oh, and JuJuBeans? $6. Not to mention drive time and park-and-walk time. Alternatively, I can rent latest release movies for $5.99 from iTunes. I am not including $29.99 vintage popcorn popper from Amazon and the sugar-free organic beverage I purchased from Trader Joe’s. People are blaming streaming services for this. I blame the Home Theatre industry with its 70″ curved screen 4HD screens and 5.2 surround sound systems.
So what is going to be your role in this re-shaping of our lives phenomenon? Are you going to be the one creating or enabling the disruption? Are you going to spread the disruption? Are you going to be the victim of the disruption? Or are you going to embrace the disruption and re-invent yourself?