– Banks are becoming ICT & Innovation companies (FNB Innovation Champion);
– ICT companies are producing self-drive cars (Elon Musk’s Tesla);
– Cellphone companies are now producing watches and TVs; (iWatch, iTV)
– Website companies are now selling more books than traditional bricks and mortar bookstores (Amazon); and
– Now a medical aid insurer is becoming a bank (Discovery Bank)
Every generation needs a new revolution. The new revolution is that of disrupting others.
Companies are entering into different industries and disrupting comfortable industry players.
The previous five year revolution was about creating new things and introducing new solutions to solve existing problems. The new revolution is about disruption; about introducing innovation and disrupting old traditional industries.
An ICT company can be a motor manufacturing company, Elon Musk moved from Paypal to Tesla. Tesla’s disruptive innovation is the car plus Supercharger network plus boutique retail (like iPod, iTunes, etc)
When Apple introduced the camera on your smartphone, suddenly every smartphone owner had a fully functional camera on their hands, this disrupted Kodac’s business module, so much so that Kodac filed for bankruptcy.
When ebooks were introduced by technology companies, meaning you can buy and read a book on your tablet, this disrupted bookstores’s business model so much so that most of them closed doors.
When Apple introduced itunes and revolutionised how we buy and listen to music, this disrupted traditional music record business model and most had to revisit their business model in order to stay relevant and in business.
Who are you disrupting, who are you upsetting because if you are not upsetting anyone, you are not changing anything. Either you disrupt or you are disrupted.
Ps: My friend Moihlobudi just added to the list:
Just to add a few industries that are being disrupted:
1. Traditional video rental stores and TV: threatened by Netflix,Showmax,SmartTV, Apple TV even youtube. In this country the biggest obstacle in the adoption of the new technologies is the inhibitive price of data and the slow download speeds.
2. Traditional people moving methods: Uber is rewriting the rule book here.
Noluthando reckons TV shows becoming clothing brands.
One thing is becoming clearer, the invisible wall between industries is fading fast. This presents a heaven, a candy store for disruptors.