History repeats itself, don't you think?
Reading history is very instructive because history tends to repeat itself in the future. By analyzing historical events and trends, we get a gift in which we know roughly what to expect within certain limits. It's very much like a map, where you can predict the terrain to some extent due to the fact that someone has already explored the unknown and then documented their experience.
It becomes much more unpredictable when there is no history to analyze. The digital age is in its infancy and does not yet have a history to look back on. Almost all of the digital developments that are taking place are innovative in some way or another and are aimed at making industries and companies more efficient.
Casino Industry.
The online casino industry is at this very stage. It's a somewhat confusing state, with a fast-growing industry struggling to find a balance with society and government.
The industry is constantly evolving due to improvements in technology, but at the same time slowing down due to stricter regulations . Two different factors meet in a confrontation with an uncertain outcome in advance, but eventually find a balance where all parties are quite satisfied. - What is happening is a preliminary real-time battle that will soon become history. Which will then be used as a benchmark by other industries and companies in similar situations for quicker resolution.
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Things are evolving so fast that there are relatively few benchmarks to look back on and learn from. Sometimes technological advances pave the way for entirely new industries. But sometimes development is held back by bureaucracy and regulations. When industry, society and government get out of balance and have to find a sustainable situation in which all can coexist. All this creates a history from which we learn, after which we develop further and find new solutions that we take with us into the future. On this web site, mi take a look at what the history of the Swedish casino industry looks like in the country.
The Financial Market and Historical Analysis
The financial markets are prime examples of how history is used to predict future rate changes. While the financial industry is constantly becoming more digitally efficient, the rules of the game are always changing slightly.
Through historical analysis, one tries to get an idea of future rate developments, and sometimes the result is almost identical. For example, some analysts managed to predict the 1987 stock market crash ("Black Monday") by drawing parallels to the price dynamics during the depression of the 1930s. But that is not always the case, because history does not always repeat itself. In other cases, the outcome deviates completely from historical analysis, and stock market analysts look at each other questioningly as the stock price moves in the opposite direction.
Digitalization in society is clearly reflected in the financial market, which is always in flux, becoming increasingly streamlined and automated. Today, trading is done with algorithms and HFT (high frequency trading). Which brings with it an unknown component of new thinking that complicates historical analysis. In recent years, HFT has caused dramatic Flash Crashers . Where the market collapsed lightning fast and then recovered just as quickly. It has since become a common part of historical analysis in the financial market, where risk and return opportunities must be based on other conditions.
Victims of the digital industry
Fuji and Kodak watched the rapid development of the digital industry at the turn of the millennium with bated breath. They must have known that their film was singing its last verse, and any scenario other than the complete drying up of demand for traditional film was completely inevitable. Anyone who owns a reel of film today owns an antique, perhaps forgotten somewhere in the refrigerator.
No industry or company wants digital evolution. It's neither good nor bad. But it cannot be stopped, and it is guaranteed an important chapter in the history books.