Business Quote by Jaron Lanier
““Here’s a current example of the challenge we face. At the height of its power, the photography company Kodak employed more than 140,000 people and was worth $28 billion. They even invented the first digital camera. But today Kodak is bankrupt, and the new face of digital photography has become Instagram. When Instagram was sold to Facebook for a billion dollars in 2012, it employed only thirteen people. Where did all those jobs disappear to? And what happened to the wealth that those middle-class jobs created? This book is built to answer questions like these, which will only become more common as digital networking hollows out every industry, from media to medicine to manufacturing.””
About This Quote
Source Book: Ten Arguments for Deleting Your Social Media Accounts, Sherry Turkle, 2018
The quote illustrates how technological disruption can decimate large, established firms while creating new, leaner businesses, shifting wealth and employment away from traditional middle‑class jobs.
In simple terms: Tech change can destroy big jobs and create tiny ones, leaving wealth elsewhere.
Key Takeaway
Recognize and plan for workforce shifts caused by digital disruption.
Themes
technology
economics
disruption
labor markets
wealth distribution
Mood
cautious
reflective
analytical
Type
observational
critical
informative
When to use this quote
- corporate strategy
- career planning
- policy making
- education reform
- investment decisions
Key Concepts
creative destruction
network effects
digital platforms
Questions to Reflect On
- How can societies protect workers during rapid tech change?
- What policies can ensure wealth is more evenly shared?
A Different Perspective
It overlooks that new jobs and industries can emerge, though not always immediately or equally.
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