Disruption happens when an inefficient, wasteful, or harmful system is replaced with one that is more efficient, less wasteful, or less harmful.
Digital disruption is the change that occurs when new digital technologies and business models affect the value proposition of existing goods and services.
If you believe that this is a future thing, you are wrong as it has already happened:
- Most popular media owner creates no content (Facebook)
- Worlds largest taxi company owns no taxis (Uber)
- Largest accommodation provider owns no real estate (airbnb)
- Largest phone companies own no telco infrastructure (Skype, WeChat)
- Worlds most valuable retailer has no inventory (Alibaba)
- Fastest growing banks have no actual money (SocietyOne)
- Worlds largest movie house owns no cinemas (NetFlix)
- Largest software vendors don’t write the apps (Apple & Google)