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Ramakantpatel
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Have you heard of the Kodak moment? Well, not long ago, this phrase referred to saving a precious moment in one’s life with friends and family, for a life time, for posterity, with the Kodak photography film.
Some 20-25 years back, Kodak enjoyed about 90% market share in the photography films. It was a near monopoly. It had huge profits. Where is it now? In 2012, it filed for Chapter 11 bankruptcy in US. All this, due to digital photo technology. And, all this, ironically, despite the fact that Kodak developed its first digital camera way back in 1975!!! But, this product was dropped since Kodak feared that the digital camera could harm its own photographic film business (a digital camera does not need photographic film). Sony, Canon and Nikon emerged from nowhere to being the leaders of photography, through digital camera. And, now, the likes of Apple (iPhone), Samsung, Xiaomi and Oppo, etc., are taking over this field by providing in-built cameras in their mobile phones.
Have a look at following photograph of the Fifth Avenue in New York during the year 1900. All horse-drawn vehicles on the road.
Now, have a look at the following picture from the same road, i.e., the Fifth Avenue in New York, but from the year 1913. All motor cars. Can you notice a horse-drawn vehicle? Within a period of 13 years, the scene complete changed! In the year 1900, nobody could have imagined about motor vehicles. But, in 13 years, the whole scenario changed. Completely. Motor vehicles replaced horse-drawn vehicles.
This is the effect of technology. The disruptive technology. In 1900, the technology change was at a slow pace, and yet see the amount of change. Now, in 2018, the technology change is at a very fast pace.
Kodak had 90% market share. It could not visualise it would be out of market in next few years and would become bankrupt. Despite having the latest digital technology, it lost.
How much is the market share of Reliance Jio? Today, it is about 25% market share. What is it in comparison with that of Kodak? Just asking.
I am not against Reliance. In fact, I am an admirer of Reliance. The way they contribute about 3% of India’s GDP.[3] We need more companies like Reliance which can contribute to the nation’s growth. But, if you ask me, Is it possible to beat Jio?Then, well, my answer is of course, yes.