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Agreed there's some hyperbole as to the current state of things, but the ability for new entrants to pressure the old guard in an industry and in some cases put them out of business or relegate them to the margins is paramount. It's about the system and trajectory more than any point in time. And GP is absolutely right about some of these: it's hard to imagine bigger competitors than the likes of Sears, Walmart, IBM, Microsoft, etc. who, even if they aren't literally dead, have absolutely had their mantles of increasing dominance ripped away, contrary to the doomsayers of the past. Even if GM adapts as you say, they'll be producing electric cars with modern design at competitive prices with better features than ever, precisely because they were forced to by the market. The goal isn't to undermine any company's longevity; it's to force every company to bow to customer pressure via competition. Old or new, it's a win if products get better and cheaper. Uber and Lyft are getting more and more regulated This is a common thread across every industry we can discuss, and to the extent that you're correct about the same players wielding power and wealth across eras and trends, lobbying and regulation play a massive role. It's fundamentally a critique of government power, not capitalism. Same old stuff in new clothes, with the same cast of people running the show. I'm curious: in what sense is Netflix the same people as the cable companies (or for that matter, movie studios)? They're directly competing in many ways, run by literally different people, with different employees requiring different skills, and competing in new and different markets around the world. |