Technology and innovation are undoubtedly woven together in today’s web of disruption. Technology is not the main driver of massive disruption, rather, it is a change in consumer behavior that has led to companies like Uber and Airbnb dominating the markets.
Disruption in any industry, or country, always follows a similar pattern: an incumbent company holding around 20 to 40 percent of the market share loses a significant amount of that share in a matter of years.
There have been three waves of digital disruption since the mid-1990s. (1) The first wave is unbundling. (2) The second wave in the early 2000s is disintermediation. (3) The third wave of disruption that we are in today is the breaking apart of the customer value chain.
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