The terminology of "disruption" has been granted an almost sacred status in tech business circles. It is ordinary for a venture capital firm to advertise that it is seeking to fund business plans that "shrink markets." To disrupt is the most celebrated achievement. In Silicon Valley, one is always hearing that this or that industry is ripe for disruption. We kid ourselves, pretending that disruption requires creativity. It doesn't. It's always the same story.
Technologists repeatedly apply the extreme efficiencies of digital networks in some area of endeavor in such a way that the sources of value, whatever they may be, are left more off-the-books than they used to be, but we end up in control of the server that runs the scheme. It happened to music and other media early on, but the pattern is being repeated everywhere.
[...] "Disruption" by the use of digital network technology undermines the very idea of markets and capitalism. Instead of economics being about a bunch of players with unique position