The only antidote to being swallowed up by the Digital Revolution

The only antidote to being swallowed up by the Digital Revolution

by Alec Hogg

By far the best job of my school years was working weekends at Oom Piet Joubert’s Photography shop. Cameras were expensive, so for many the only affordable option was posing in our studio with its popular props like plastic flowers and telephones. I must have taken thousands of Black and White Postcard photos destined for loved ones.

Shops like Oom Piet’s were part of a massive worldwide industry that included chemicals, film, special paper, cameras, darkroom equipment, lenses, lights. An industry wiped out in a few years by the Digital Revolution. The Eastman Kodak company, once regarded as the highest quality of blue chips, was the best known tragedy. But it was only a fraction of the actual dislocation.

The death of old style photography is a reminder of how technology can displace seemingly secure jobs – how innovation can destroy seemingly impregnable sectors. Never before has mankind needed to be as aware of this transformation. The only antidote is lifelong learning. As Warren Buffett urges us: Read, read and when you’re tired, read some more. Or suffer the consequences.


From Biznews community member Rowena James:

"I truly enjoy reading your email in the morning. I felt compelled to reply to your email about technology being the death of industry that fails to keep up with the times. Having information at one’s fingertips and social media have changed us and how we make decisions. Take what we know about health. We are discovering that processed foods and excess sugar cause disease and bulging waistlines. Perhaps the one industry that could do with ignoring what labs tell them and go back to antiquated methods is the farming and food industry. Don’t you agree that some things should stay the way that God intended?"

* For more in-depth business news, visit biznews.com or simply sign up for the daily newsletter.

ZAR/USD
17.04
(-0.38)
ZAR/GBP
21.81
(-0.11)
ZAR/EUR
19.90
(-0.12)
ZAR/AUD
12.03
(-0.12)
ZAR/JPY
0.16
(-1.12)
Gold
1860.65
(+0.03)
Silver
22.87
(+0.11)
Platinum
844.51
(+0.50)
Brent Crude
42.23
(-0.12)
Palladium
2207.00
(+0.59)
All Share
53587.11
(-1.22)
Top 40
49547.74
(-1.16)
Financial 15
9401.28
(-1.95)
Industrial 25
72949.70
(-1.72)
Resource 10
53453.42
(-0.10)
All JSE data delayed by at least 15 minutes morningstar logo
Company Snapshot
Voting Booth
Do you think it was a good idea for the government to approach the IMF for a $4.3 billion loan to fight Covid-19?
Please select an option Oops! Something went wrong, please try again later.
Results
Yes. We need the money.
11% - 1366 votes
It depends on how the funds are used.
73% - 8845 votes
No. We should have gotten the loan elsewhere.
16% - 1954 votes
Vote