3 min read.Updated: 01 Aug 2016, 01:20 AM ISTLivemint
Creative destruction leads to new technology cycles and benefits us all
“To change something, build a new model that makes the existing model obsolete," R. Buckminster Fuller, American architect and inventor, once said. Last week, Japan’s Funai Electric announced the inevitable—it was producing the last batch of the video cassette recorders (VCRs) using the video home system (VHS). With the announcement, the digital era—with its CDs, DVDs, Blu-ray discs and torrents—drove the last nail on the coffin of analog technology.