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I tweeted earlier about he US car industry over the years and how most firms from the 1920’s no longer exist and how this often happens with growing industries
But within industries it can be different technologies winning out and it isn’t always the first one that wins
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But within industries it can be different technologies winning out and it isn’t always the first one that wins
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If you are my age or older your will probably remember VHS and maybe Betamax
If you are wondering what they are - it is the precursor to DVDs
And if you are wondering what they are your probably too young to be here at all! Though to some kids they will only ever know Netflix!
If you are wondering what they are - it is the precursor to DVDs
And if you are wondering what they are your probably too young to be here at all! Though to some kids they will only ever know Netflix!
You can find a full write up on the Betamax vs VHS battle here - https://legacybox.com/blogs/analog/vhs-beat-betamax
The short version is that Betamax came out 1st and was better quality, however you could only record up to an hour
The short version is that Betamax came out 1st and was better quality, however you could only record up to an hour
VHS while lesser quality could record 2 hours to start with but went up to 4 hours
Customers preferred the ability to record / watch longer videos over quality
VHS also got the film industry to put out their films on VHS, and their longer length of recording helped with this
Customers preferred the ability to record / watch longer videos over quality
VHS also got the film industry to put out their films on VHS, and their longer length of recording helped with this
By the time Betamax increased their recording time it was too late
So what can we learn from this?
The 1st technology that comes to market might not be the one that makes it, even if the one that follows is lower quality
With video cassettes people wanted to record more
So what can we learn from this?
The 1st technology that comes to market might not be the one that makes it, even if the one that follows is lower quality
With video cassettes people wanted to record more
It might seem like I am picking on EV, which I am not and I’m not trying to say that some of these companies won’t become market leaders
The truth is I can’t predict the future, but we can learn from the past to help best protect and grow our wealth
The truth is I can’t predict the future, but we can learn from the past to help best protect and grow our wealth
What I take from this story is that you don’t want to go all in on EV or anything for that matter as it might not be the technology that wins out or it might have a lot more competition in the future
Time and time again it comes down to not putting all your eggs in one basket
Time and time again it comes down to not putting all your eggs in one basket
