Our mindsets need to change in sync with evolving technology

Else, like hapless generals in World War I, business leaders might be left fighting yesterday's battle

- RAGHU RAMAN

Until the beginning of the 20th century, horses and horse-drawn carriages were the mainstay of transport in the US. Indeed, horses were instrumental in the conquest of the Wild West, becoming an integral part not just of commerce but also its folklore. Horse breeders, stable hands, carriage and saddle makers, transport businesses, public services and even armies depended on the animal. However, between 1910 and 1930, all that was upended. The advent of automobiles wiped out an equine economy that had lasted centuries. Apart from technological developments, there were other reasons for this dramatic transformation.