Shrink a Market 2.0
Image via Wikipedia
It was almost three years ago that I first blogged about the benefits of "shrinking a market". Ironically, the example I used in that blog post was how Encarta shrunk the encyclopedia market (and basically killed Britannica and World Book). Well, we've now seen the encyclopedia market shrink again. Today Microsoft announced that they will be closing Encarta -- an apparent victim of Wikipedia.
The power of the Internet to remove friction, eliminate inefficiency, and drive innovation never ceases to amaze me!