My grandfather was born in 1880 and died in 1968. He lived through the destruction of the horse and buggy industry, with millions of jobs ranging from horse breeding, to buggy and buggy accessory manufacturing, to manure transportation (a huge industry in itself in most cities). It seems to me that one or two new industries were created during that time to replace them.
"You know, at one time there must've been dozens of companies making buggy whips. And I'll bet the last company around was the one that made the best goddamn buggy whip you ever saw. Now how would you have liked to have been a stockholder in that company?"
“...I’ll bet the last company around was the one that made the best goddamn buggy whip you ever saw. Now how would you have liked to have been a stockholder in that company?...”
I understand. Our family fortune was invested heavily in North American Whalebone. It was used for corsets and many other products.