We know companies come and go. No companies can last forever if they do not innovate. The basis of human advancement is about finding a better way to do things, either more effectively or more efficiently. And by doing so, certain industries would be obsolete and replaced by new industries. Joseph Schumpeter coined the term, “Creative Destruction”, to describe this process. Let’s take the music industry as the first example. The first commercially viable music recording was the vinyl records and gramophones. These were considered mechanical mode of recording. With the advent of magnetic storage media, the creation of cassette tapes ‘destroyed’ the vinyl market. Companies which were unable to move on to cassette tapes became obsolete. Thereafter, the ability to digitize music and store them in Compact Disc replaced the cassettes. Cassette makers were out of job. Soon, internet came around and file transfer were enabled. This allowed internet ......