Let’s talk about disruption.
The word “disruption” has come into our language over the past decade as common usage regarding the rise of the Internet and the way its use is disrupting established ways of doing things.
For instance, we used to all read printed newspapers and magazines to get our news. We used to call travel agents as the only way to buy an airline ticket. We used to go to the record shop to buy records, tapes, and CDs as the way to get personal copies of our music. We used . . . well, you get the picture.
Disruption is actually a polite word for “destroying.” Instead of saying, “the Internet and Internet-only online book sellers destroyed Borders Books’ business model,” we say, “the Internet disrupted Borders Books’ established way of doing business.”
Either way, Borders Books is bankrupt and the primary cause was their management’s failure to understand the fundamental change of the Internet.
My next blog will be titled: It’s Not a Black Swan.
-Mike
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