Entering the virtual world (screenshot of
Manchester snatched in June 2005, Google Earth, click to enlarge)

The Internet is bound to make most sectors of traditional industry obsolete. Below are several examples, which have begun to prove more realistic than ever before.

• Telephone companies- suffer from VoIP for local and international calls
• Internet Service Providers (ISP’s)- giants like Google can gnaw at their revenue by appealing to a large userbase
• Newspapers – readers opt for the Internet, get access to blogs of many ‘flavours’
• Television – user opts for interactive content, not one-way communication with a finite number of channels
• Reviews move on-line – similar impact to that of digital TV (on-demand menus) on the TV guide — a river that have dried up
• Book publishers – the impact of Wikipedia and free books in PDF format; easy printing and sharing
• Film industry – media ‘ripping’, DRM
• Music industry – same as before with but increased levels of piracy, also due to P2P networking
• Classified services, real-estate (among other middlemen-type services) – superseded by eBay, classifieds service from Google, Microsoft, Craigslist, etc.
• Banking – online banks with neither concrete branches nor assets
• Groceries – as previously predicted (along with other wild guesses), warehouses may replace supermarkets and be managed and accessible via the Internet

What will be the outcome of this revolution? Nothing far-fetched, but nonetheless a noticeable transition. More free content, low-cost services and fierce competition among service providers, primarily left in the hands of giants.

This entry was posted on Wednesday, January 4th, 2006 at 10:31 am and is filed under Industry, Internet, Opinion, Technology. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.