Toys Were Us – Now Let’s Build Something Better!
I am so sad that they are closing Toys B Us. After all these years. I’m not. What? [Intro Music] It’s easy to get nostalgia goggles stuck on your face and assume that we did everything better back in the day, But that just isn’t the case. The truth is the way we do things can always be improved upon, and over time Businesses, products, technologies, and even entire industries are phased out as we develop new and better ways of doing things. This is known as creative destruction. It’s what allowed horse driven carriages to be replaced by cars, Fireplaces to be replaced by furnaces, Dial-up to be replaced by Wi-Fi, Video rental stores to be replaced by streaming services, And yes, It’s even allowing for certain traditional stores to be replaced by online markets, And that’s a good thing. A good thing? But what about all the people who lose their jobs in the process? I know, that’s awful. But because their job is within an industry so inefficient that it’s being replaced, That means their labor would be more valuable elsewhere. Sure, some people will be out of work while transitioning careers But the same was true when horse drivers were phased out of the market when the automobile became popularized, Or when video rental stores closed in lieu of streaming If we don’t allow these kinds of changes to occur, Then when society inevitably develops new needs, They won’t be filled because the people who could assist in providing them will be too busy working in fields that we no longer need I guess that makes sense, but I’ll still miss Toys B Us. And that’s understandable. As humans, we’re constantly looking for new and better ways of doing things, And yet, we’re also reluctant to embrace change. So yeah, sometimes when we’re feeling nostalgic We’re gonna miss going to the video rental store, Or saving files to floppy disks, Writing letters, And calling people over landlines But in the grand scheme of things do we really want to go back To DVDs that skip, To storage systems that can barely hold a megabyte, To letters taking days to reach people, To calls that we need to be sitting in our kitchen in order to get? Or to stores we need to waste time and gas money driving too And we can just as easily have these products delivered at the push of a button ? Of course not. I guess that makes sense Goodbye, Toys B Us [sobbing] Want to hit it with the wrecking ball? Absolutely! (Captions by Garret Castro) Hey folks, thank you so much for watching. If you enjoyed this video, please check out fee.org for similar educational material. Thanks so much!