Perhaps the single most dramatic example of this phenomenon of software eating a traditional business is the suicide of Borders and corresponding rise of Amazon.
Sentiment: NEGATIVE
In short, software is eating the world.
Amazon drove Borders out of business, and the vast majority of Borders employees are not qualified to work at Amazon. That's an actual, full-on problem. But should Amazon have been prevented from doing that? In my view, no.
So much has changed in our business. E-books, that's been one of the principal developments. There has been also the failure of Borders and the rise of Amazon, just to name two others.
My own theory is that we are in the middle of a dramatic and broad technological and economic shift in which software companies are poised to take over large swathes of the economy.
Ultimately, Amazon is a weather pattern that disturbs everything around it.
Our philosophy is, using internet technology, we can make every company become Amazon.
First of all, we have infrastructure as a service, which Amazon has; we have platform as a service, which Microsoft has; we have software as a service; we have applications. Nobody has everything except us. We also have data as a service.
More and more major businesses and industries are being run on software and delivered as online services - from movies to agriculture to national defense.
Just like the Internet has transformed the media industry or the e-commerce industry, the software industry is also being affected dramatically by the Internet.
If Jeff Bezos and I had started Amazon.com in a poverty-stricken corner of Africa, there would have been no job creation because there would be no people to buy the stuff from Amazon.com. The difference here is the American middle class, which is by every measure the most extraordinary economic achievement in the history of the world.
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