Adapt or Disappear: Lessons from Kodak and Beyond
Remember Kodak? Back in 1997, Kodak was a giant. It had around 160,000 employees, and an incredible 85% of the world's photography was captured using Kodak cameras. Kodak was photography. Yet, as mobile cameras started to rise, Kodak didn’t keep up. In what felt like the blink of an eye, they went from being the king of the hill to completely out of the market. Kodak went bankrupt, and all those employees lost their jobs. This story isn’t just about Kodak; it’s a cautionary tale about what happens when you fail to change with the times.
Kodak isn't alone. Think about other big names from the past:
- HMT (Watches)
- Bajaj (Scooters)
- Dyanora (TVs)
- Murphy (Radios)
- Nokia (Mobile Phones)
- Rajdoot (Bikes)
- Ambassador (Cars)
These weren’t companies making bad products. They were the best at what they did for a while. The world didn’t leave them behind because they were bad; it left them behind because they didn’t change when the world changed.
The World is Changing Faster Than Ever
Standing here today, it might be hard to believe how much the world will change in the next 10 years. But make no mistake—70% to 90% of the jobs we know today might not exist a decade from now. We’re stepping into the "Fourth Industrial Revolution," an era shaped by artificial intelligence, robotics, and technologies that we’re just beginning to understand.
Look at some of today’s most successful companies:
- Uber doesn’t own a single car, yet it’s the biggest taxi company in the world. It’s just a piece of software!
- Airbnb doesn’t own any hotels, yet it’s the largest hotel company in the world. It just connects people who have rooms to those who need them.
Companies like Paytm, Ola and Oyo Rooms are all following this model, using technology to transform their industries. The game is changing and those who understand this new reality are the ones winning.
Jobs and Professions are Being Redefined
It’s not just companies that need to adapt; professions are being redefined too. In the U.S., fresh law graduates are finding it tough to get jobs. Why? Because IBM Watson, a legal software, can provide better legal advice than any rookie lawyer. And it's not just the legal field—Watson can diagnose diseases like cancer more accurately than many doctors. We’re looking at a future where, by 2030, computers might be smarter than humans in many fields.
If these trends continue, up to 90% of Americans might find themselves without traditional jobs in the next decade. The remaining 10%? They’ll be specialists—experts in areas that still need a human touch.
The Future of Cars and Energy
Imagine what the streets will look like in 20 years. Most of the cars we see today will be gone. The ones left will likely be electric or hybrid. No more traffic jams caused by human drivers; instead, self-driving cars will smoothly navigate the roads. Need a ride? Just tap your phone, and a driverless car will pull up to your door. These cars will be so safe that car accidents will become almost nonexistent, and car insurance companies will start to vanish too.
With fewer cars on the road, there’ll be no need for traffic cops or parking attendants. And with the drop in gas-powered cars, oil consumption will fall, potentially bankrupting oil-rich countries that can’t pivot quickly enough.
Everyday Life is Rapidly Evolving
Remember the STD booths that lined the streets a decade ago for long-distance calls? Mobile phones made them irrelevant. Those booths turned into mobile recharge shops. But then, online recharge took over, making even those shops unnecessary. Now, they sell and repair phones, but with Amazon and Flipkart making it easier to buy phones online, how long before they’re obsolete too?
Money is changing as well. We’ve moved from cash to "plastic money" (credit and debit cards), and now we’re shifting to mobile wallets. Paytm, Google Pay, and other platforms are revolutionizing how we handle our finances. It’s fast, easy, and just a click away.
The Key to Survival: Keep Evolving
The message is simple: if you don’t adapt, you get left behind. The world doesn’t wait. The businesses, professions, and people that survive and thrive are the ones that keep evolving, keep learning, and keep moving forward. It’s not about being the biggest or the best; it’s about being the most adaptable.
So, take a cue from the companies and people who are thriving in this new era. Keep creating. Keep innovating. Keep moving with the times. Because the future belongs to those who are ready to embrace change and run with it.
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