I was reading a post on Silicon Alley Insider last week when I came across an interesting concept—technology-driven Darwinism. The post focuses on the recent crisis on Wall Street, but points to technology-driven Darwinism as part of the problem.

“People tend to think of the newspaper or music business when they think of industries that are being destroyed by technology, but we have to admit the same thing is happening to the traditional investment banking and brokerage industry.”

Basically the writer equates the idea that technological innovation is destroying certain industries with the theory of evolution. He writes that technology is causing certain industries, or more appropriately the standard (weaker) practices of certain industries, to die off, while the technology-driven (stronger) practices survive and thrive. It’s as simple as that.

Business owners in these industries need to stop fighting this natural progression and either get on board or make room for those who will. Instead of putting their resources toward pushing their stale practices on consumers, they should start allocating those resources toward technological innovation.

“That’s why we need to be careful of all of the bailout activity…it’s propping up bad businesses that need to fail so talent and capital can move to more productive efforts.”

Businesses that are innovation driven and understand the future of their industries will fair much better in the current climate than those that don’t.

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