I don't remember when I first used a camera phone, probably around the mid 2000s.

I was still using digital cameras back then but I stopped shortly thereafter because I started to think they were just pointless.

By 2010, I was only using digital cameras on certain occasions, like for example on holiday.

By 2013, I was only using my phone.

This includes taking pictures that I would then use for work, for articles and videos.

The quality was not great but, in my estimation, still good enough for editorial use online, and definitely good enough for social media.

Today, they're filming Hollywood movies with iPhones.

With exceptions, 99 percent of people don't need a camera, and they can do everything with their phones, including for high-budget productions.

This, in my view, might sooner or later make every camera redundant and, by now, it already made action cameras redundant.

There's nothing you can do on an action camera that you can't do with your phone.

High-end phones are shock resistant and water resistant today, and you can add extensions and grips and mounts and so on.

The result?

GoPro is very close to bankruptcy, according to analysts. Its revenue is down, and it's losing money left and right.

GoPro shares were worth $80+ at the peak, but they're worth less than a dollar now.

And it's never going to recover.

If your business derives all of its value from tech, trouble is always around a corner.

You're always one break-through tech advancement away from being rendered obsolete.

The writing has been on the wall for a long time.

GoPro went public in 2014, which in my view was a time when the (soon-to-come) superiority of smartphones was already evident.

By 2016, it was clear.

By 2018, it was obvious.

Now, it's too late.