The leading horse-drawn buggy makers probably got a little nervous when they first saw a car. But perhaps they thought driving would be a fad or that infrastructure to support vehicles might remain limited.
That, of course, did not happen, and buggies are a niche industry -- if that. It's a model that has repeated itself in countless industries, and it's something that could affect Sirius XM Holdings (NASDAQ: SIRI) (NASDAQ: LSXMB) (NASDAQ: LSXMK).
When it first became available, the satellite radio company filled a niche. It offered people in cars better programming than local radio -- along with talk shows, music without commercials, and out-of-town sports. That was once something people wanted and had few other options to get. But podcasts, streaming music services, and unlimited-data plans may make satellite radio a luxury more people pass on.
Source Fool.com