Kodak, Instagram, and Automation
Here’s a current example of the challenge we face... At the height of its power, the photography company Kodak employed more than 140,000 people and was worth $28 billion. They even invented the first digital camera. But today Kodak is bankrupt, and the new face of digital photography has become Instagram. When Instagram was sold to Facebook for a billion dollars in 2012, it employed only 13 people. Where did all those jobs disappear? And what happened to the wealth that all those middle-class jobs created?
Notes:
A cautionary tale of how automation is running people out of employment.
Folksonomies: automation unemployment
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Triples
Elimination of Professional Photography
Kodak, Instagram, and Automation > Additional Support/Evidence > No Such Thing as Professional PhotographersA stark example of how technology and automation is virtually eliminating a profession.