This is the first in a series of blog posts that will explore the factors that drive digital technology and how NetHope will lead and support it.
When Amazon announced recently that it was buying Whole Foods, many marveled at how a company that started as an online book seller had become so broadly diversified. Twenty years after its founding, Amazon has revenues of $136 billion per year, attracts 130 million customers per month to its U.S. site alone, and has disrupted countless retail segments previously thought to be protected from online competition. Immediately after the purchase announcement, shares of Walmart, the largest grocery retailer in the U.S. with 14.5 percent of the market, fell 7 percent. In sharp contrast, Amazon stocks rose to an all-time high.
Even the most stalwart, seemingly ironclad of companies is falling to digital disruptors. Last month, the giant U.S. automaker Ford ousted its CEO, Mark Fields, amid growing concern from its Board that the company wasn’t moving fast enough to compete with new market entrants like Google, Apple, or Uber. Tesla, the electric-car maker founded just 14 years ago, has a higher market valuation than any other U.S. automaker. Ford sold 1.9 million vehicles; Tesla just 76,000.
It has become cliché that “tech is disrupting every sector.” That’s true, but it’s more than that. Technology is pervasive in every sector, even if the consumer or the employee doesn’t see it. Somewhere along the line, technology has changed every sector.
Read the full story at the NetHope Blog.