According to the World Economic Forum’s report on the fourth industrial revolution, more than one- third of the skills considered important today will be irrelevant five years from now. The rise of online streaming is already leading to the decline of the latter and an increased demand for another completely different set of job profiles. Their arrival led to the replacement of old cassette shops with DVD shops.īut it is unlikely that this will be the end. DVDs - a byproduct of the third industrial revolution that saw the transition from analog to digital - were also party to this process. The phasing out of VCR and the telegraph are the natural progressions that occur in any innovation cycle. The telegraph - one of the first inventions that gave rise to this technological wave - only recently died out in 2. Though not within the exact time frame of the second industrial revolution, the VCR was one of its last products.
These waves have three phases - expansion, stagnation, and recession - and are integral to the creation of new jobs and industries as well as destruction of old ones. According to innovation theory, these basic innovations when accumulated become part of larger cycles spanning four to five decades known as Kondratiev waves. To stay relevant, the product has to explore different facets that could prove more useful to the user. The new trend of online streaming, on the other hand, is thriving because of its easy access and affordability. While the magnetic tape of VHS technology enabled greater capacity, the laser technology in compact discs, smaller data pits and track path in digital versatile discs, and blue laser in Blu- ray discs were successful for their durability, stability, and better picture quality. Inventions have done better for filling in the gaps of existing technology and not just improving upon them. The only fixed element here is variability. New York magazine, VHS systems outsold the Betas by more than three to one within five years of introduction. The two- hour recording capacity of VHS was, in fact, one of the primary factors that helped it win the standards war with Betamax in spite of the latter’s better picture quality. The VHS made “time shifting” possible by facilitating viewers to record television soap operas and watch it at leisure.īesides these vital features of recording and home viewing, the success of VHS can be attributed to its compatibility with television sets, its affordability, and capacity. Collections became an obsession in many households and videophiles were born. For the first time, people were able to watch their favorite movies multiple times within the comfort of their home. It soon crossed over from the realm of technology to culture by redefining the movie- viewing experience. Taking off from the cassette player technology used in cameras, it was in the 1. With the announcement, the digital era - with its CDs, DVDs, Blu- ray discs and torrents - drove the last nail on the coffin of analog technology. Last week, Japan’s Funai Electric announced the inevitable - it was producing the last batch of the videocassette recorders using the video home system, known by most as VHS.
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