What’s an Industry?
Once upon a time, analysts could easily categorize companies and tell the markets what they were worth, boards could oversee firms with a view to shareholders’ happiness, and all was right in the world. But that world is disappearing before our eyes.
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LONDON – Carmakers are afraid of Apple. YouTube, Netflix, and Amazon are upending the television industry. Skype, Facebook, Twitter, Snapchat, and others have changed consumers’ notions of how – and how much it costs – to communicate with one another. Sectors and industry delineations as we know them are breaking down.