The Internet Killing “Old World” Businesses

March 18th, 2010 Leave a comment Go to comments

In the late 90’s pundits around the world foretold of the rapid dimise of traditional business at the hands of the Internet.  Of course this didnt really happen as the internet provided more of an evolutionary change than a revolutionary change.  Still, the internet has dramatically changed our economic landscape.

Just take the online real estate advertising business.  Ten to 15 years ago, everything was advertised in the paper.  Now classified sections have shrunk to former shadows of themselves.  If you are looking for a flatmate or a rental, you wouldnt even consider buying a paper, Craiglists or one of the thousands of niche sites out there provide a far better service.  The same is happening with homes for sale … it is just a matter of time before more and more papers either reinvent themselves or just disappear.

Therefore it was with interest that the following article came across my desk from the Wall Street Journal about the Blockbuster thinking about entering bankruptcy protection.   No wonder businesses like Netflix (USA), Lovefilm (UK and Europe) and Quickflix (Australia) are growing at ever increasing rates.

It will be interesting to see which other busniess and industries give up holding back the tide and are swept away by the continuous onslaught of the internet.