what are modern examples of creative destruction 
consider apple s frequent product releases when the company deems it necessary they release new gadgets hardware or software that usually takes the place of prior offerings this is an example of apple embarking on creative destruction where they make their older items obsolete in favor of coming up with innovative new solutions for long term benefit the bottom linecreative destruction is a concept introduced by economist joseph schumpeter that refers to the process of innovation and technological change that leads to the destruction of existing economic structures such as industries firms and jobs this destruction paves the way for new structures to emerge thereby creating long term economic growth and progress though potential short term downsides creative destruction has the intention of creating long term value 