It happens all around us constantly - however, the digitization of our interactions, mostly facilitated by the Internet, must've had the greatest toll on companies products or their business models. Schumpeter's creative destruction must be at play more today than at any time in society's history and every Company must now (more than ever) be on the lookout for its own demise 3-5 years out.
The latest casualty - which took over 100 years - is Kodak (Started in the 1880's). Being showcased today as almost becoming a penny stock, there is no doubt its days are numbered. What only 20 years ago were synonyms with photos and pictures - are both today non-existent in the ecosystem: Kodak and Polariod (Started in the 1930's). The digitalization of memory / event capturing for the masses has been taken over by other companies who's main business didn't even used to be building cameras or producing film. Most likely, the threat of cannibalizing their major businesses at the time was the major impediment in them fully embracing the newest forms of participating in the industry (which wouldve required full focus), i.e. not making money in the film itself, but, only in the hardware - which probably required the company expanding into other type of hardware. Another interesting element of disruption is how it migrates spending from components of an existing industry (buying film, develping film, for example) to another (hardware, but, most likely increasing disposable income to be spent somewhere else).
Kodak and Polaroid had their time in American industry and innovation, which will be crystallized in history. Its the amazing speed of development that we have seen in the last 50-60 years, and which has really accelerated in the last 15-20, what has consumed companies that are not forever-forward looking. Leaving nostalgia aside for any of these companies, consumers and society are significantly better off by these forces of creative destruction.
