When I was younger, I remember the trouble my parents had to go through trying to find a home on their own. They were very resistant to the idea of paying a real estate agent to help them; back then, Real Estate agents had a very nice edge over the general population with finding homes due to the data bases they possessed. They could quickly narrow down searches for families before showing a home. Now the Internet has changed things but they have still managed to adapt; I was looking through the san diego listings for condominium the other day and I was surprised by how well developed and organized it was – this was all because of the real estate companies willingness to share the information they have with the population and offer them this amazing free service. Not every industry has been so quick to adapt to the changing market that the Internet has created. There is something to be said, and to be admired, that they have done this while others have stood still and let it pass them by!
I think we can look at one company as a very good prime example of what happens when a company is too stubborn and lacks the vision to see what emerging technologies are capable of doing; Blockbuster. It was reported when Netflix was nothing but a wee start up company daring to do something bold and different, that they went to the folks at Blockbuster and offered them a deal. They would stream their movies if they could get in on the contract licenses they had with the production companies. It is reported that they were laughed at right out the door, that Blockbuster believed the Internet to be a ‘fad’. Now, Blockbuster has been forced to close hundreds of stores nation wide!