RE: 10 Things That Will Be Gone By 2035
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I was waiting to see Banks 🏦 and I found it in the 9th point. I understand banks will survive but only or almost fully digital ones.
The one with branches are closing them like crazy and it costs them so much money to do so, it is truly scary.
New actors have a competitive advantage (which is rare when you try to take over an industry). They are usually digital native, have very low fixed costs (compare to old banks) and understand the needs of millennials and upcoming generations.
Therefore the Revolut, N26, Coinbase, Binance and even Robinhood have a bright future ahead of them.
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Until they are usurped by even more desirable technology. Do not overlook the fact that, in this arena, the predator becomes the prey. Look at Walmart. Destroyed tons of businesses only to come under assault themselves. Same with Blockbuster.
Legacy systems can be a hindrance on a company moving forward. Look at GE.
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Indeed, but Walmart as Microsoft are counter example as they were on the brick to disappear and made a U-Turn and manage to stay at the top of their respective sectors despite being attacked by new companies and business models.
Adapting is key as in the nature 😄.
Have a great morning
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