It was the winter of 1999
I was a recent graduate
With a masters from MIT, no less
Working at one of the hottest companies in the US
Just over 25 years old, a year into my first job
(Paper $millionaire already!)
I was attending a conference on innovation
And the future by local business group
When called on stage to discuss and debate
I made a point that many believed to be true
“Ecommerce will destroy brick and mortar”
Most of the audience nodded in agreement
Few shook their head
-older people with receding hairlines
(No, I don’t claim to be original on that one
It was something being talked about in all the media
It was the peak of dotcom boom)
Everyone believed that within few years
Online retail would overtake physical retail
More than 20 years later
It still has not happened
Business has changed
Even more so in the last couple of years
But it’s going to still take more time
Another 5, 10, 20, or longer?
We are in the middle of another such big change
AI, ecommerce, crypto, NFT, metaverse, drones
I see many people taken in by this
Singing the song “This is the future”
Replace “This” with the whichever new tech you like
Yes, change will happen
It always has
Will the old get wiped out tomorrow?
Not likely
Will it take longer than most “pundits” and “talking heads” proclaim
Certainly!
When I meet someone talking about…
“How Bitcoin is the future”
I don’t argue and spout out challenges and facts
I just shake my head
Smile inwardly and move on….