How immune do we think we are?
Read time: less than a min.
Everything will be up for a change.
Even industries that were once thought invulnerable to technology are being affected. Here’s an example.
In 2013, an entrepreneur in Argentina noticed his car wash operations had seen their revenues drop 50 percent over the previous decade. Given Argentina’s growing middle class, a steady increase in the sales of luxury cars and a population that takes pride in showcasing clean vehicles, the fall in revenue made no sense.
The entrepreneur spent months researching the situation, checking whether there were more car washes on the market (there weren’t) or if new water conservation rules had been introduced (they hadn’t). After eliminating all the possibilities, he stumbled upon the answer:
Thanks to increased computing power and data, weather forecasters had become more accurate in their predictions during that period. When drivers know it’s going to rain, they skip the car wash, resulting in fewer visits.
A shift in computational improvements in weather forecasting resulted in an impact on car wash operations, an industry seemingly immune to technology advances.
If something is changing far away, you will be naive to think that it won’t affect you at some point. We all are much more interconnected than we think.
Thank you for sharing some of your precious time with me each week. Leave a comment if you liked it.
Stay safe, stay hopeful.
With gratitude, until next week.