Incumbents are still with us. The old part of their business didn't turn into software; they just missed out on all the cold fresh stuff. Meanwhile,tech companies managed to upend the music industry without ever signing musicians to recording contracts -- they didn't have to. Hence, the businesses of shaping metal or shaping actors might or might not themselves procure disrupted by software, or but everything downstream will be,and, again, and what tends to happen is that a fresh layer gets created on top and that fresh layer shapes how consumers spend money. The old doesn't proceed absent but it becomes less relevant. MORE
Source: a16z.com