Business asteroids

 

Several million years ago asteroid in a size larger than the moon hit the earth and wiped most of the species leaving the dust particles to afloat. Since then, asteroid is identified as mostly a negative thing. In fact, many historians believe that that was the turning point to the second life of the planet. Generally, we could see people referring asteroid as capable of destroying anything. This true, but it is not complete. The sentence only fulfills the moral meaning when we add “and bringing the new world of new opportunities”. We would be survived if it hadn’t happened amid the dinosaurs. We must have gone extinct long before. It is common to assign asteroid anything that is about to wipe out the old and bring the new.

   The term Business asteroid got popular in the last two decades. Reason: we barely saw anything before. Like an actual asteroid it is perceived as wrong at its entry. Many people said it would not be a problem for them. Some sided with ´this is shit and child play’. But when it hit the world, it did what it’s capable of. It wiped out the industry and rebuild it for a new version of sapiens. And people resisted it got wiped off with the belief.

The digital photography entrance was an asteroid.  It bushed the old film industry and those who resisted the change got left behind. Kodak with its billions of market capital faded because they resisted the change. They thought, with the billions they could bribe the industry and refrain from the change. They failed and nearly out of business. They competed against the asteroid and failed to surpass the effect. But those who started along with digital photography made the profit. They were lucky that the asteroid hit despite the unemployment it created. The digital world conceded employment. The only loss was for the companies like Kodak. How could a billion-dollar company with decades of industry experience didn’t see that coming? Actually, they did, but did the wrong math and refused to join the early adopters. This is visible in any area now. Since the rise of the digital arena, asteroids are hitting more often and disrupting the field. It became prime important to adapt to the change.

 The pace and size at which these asteroids strikes have a proportional impact. Technologies like AI and Blockchain are such disruptive digital business asteroids. It is capable of reinventing the whole world. Even though it is a digital associated invention, the scale at which it impact would proliferate many visionaries to think twice and act in accordance. Despite their parent software industry, these technologies are disrupting the hardware industries such as electric vehicles and manufacturing machines. Of course, it will make thousands unemployed, but it would create vast opportunities that might serve millions to find a new job on the flipside.

The only question that can bring a change might be “are we ready for the change?”. Without change, we cannot survive. And change is super-exponential.