The following answers are provided by members of Young Entrepreneur Council (YEC),
an invite-only organization comprised of the world’s most promising
young entrepreneurs. In partnership with Citi, YEC recently launched StartupCollective, a free virtual mentorship program that helps millions of entrepreneurs start and grow businesses.1. Metropolitan Taxi Systems
The dual driving force of decentralized apps (Uber, Lyft) and self-driving technologies will cause the centralized taxi industry to disintegrate. In just a few short years, Uber has already made a sizable dent in their business and will continue to do so. On the other hand, automated taxis will spread like wildfire once viable. As an NYC resident, all I have to say is good riddance, yellow cabs!
– Brian Honigman, BrianHonigman.com
2. The USPS
Almost all of the processes that used to require a mail response are completely online now, and the USPS today is essentially one big junk mail courier for companies wanting to advertise at a 1.4 percent conversion rate on average. The only spectacular aspect of the USPS is their Media Mail rate, but if the industry was privatized, the price would be just as competitive via the nature of private industry, e.g. UPS (UPS) and Fed-Ex (FDX) .
– Jon Cline, Rokit SEO
3. The Paper Industry
The paper industry won’t ever disappear completely, but it will be almost obsolete by 2020 as everything is digitized.
– Elliot Bohm, Cardcash.com
4. Home Phones
I believe home telephones will be obsolete by 2020, if not sooner. Smartphones have outpaced landlines as a far more convenient and necessary form of communication. It’s already very rare to meet someone without a cell phone. We even contemplated this year switching all our office phones to cell phones. (T, VZ, S, TMUS).
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