Remember when home taping was killing the industry? Or VCRs were killing cinemas? Or for that matter when recorded music was killing live performance?

Industries change, business models adapt (eventually). But the repeating trend is something along the lines of:

1. Industry becomes entrenched in a certain way of doing things

2. New way emerges, customers flock to it for whatever reason

3. Traditional industry complains that it is being “killed”, request government intervention to ban new thing

4. Ban not enacted, or not effective. Customers continue flocking

5. Traditional industry players eventually come to terms with reality, establish themselves on new thing

6. Industry uses their industry-muscle to dominate new thing

7. Industry becomes entrenched in a certain way of doing things