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?

A cautionary tale of how automation is running people out of employment.

...there’s no such thing as Flickr Pro, because today, with cameras as pervasive as they are, there is no such thing really as professional photographers, when there’s everything is professional photographers. Certainly there is varying levels of skills, but we didn’t want to have a Flickr Pro anymore, we wanted everyone to have professional quality photos, space, and sharing.

The Yahoo CEO took a lot of heat for this comment, but there is a great deal of truth to it. With digital photography, photographs are so pervasive that professionals are now competing with a horde of amateurs.