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I've likened it to the print media industry in late 90's by Queensman
...and early 2000's. The writing was on the wall. The industry was shifting a major way and never coming back.
Those who chose to make a major change in their business model to adapt would find a way to succeed. Others would recognize the change but saw no way to adapt. Therefore, they looked to sell or merge with another entity to ensure its future. Finally, there were those that denied realty stating things like "people will always want their paper". Those companies suffered painful and public deaths.