In the last year, we’ve seen the high profile bankruptcies of WeWork and Convoy. Each of these were poster-children “disruptors” over the last ZIRP-infused venture cycles, promising to leverage technology to revolutionize massive “antiquated industries, only to ultimately produce economics inferior to the incumbents they were attempting to disrupt. While there is no gratification in seeing billions of dollars lost, I do think these companies provide a healthy lesson for investors to learn from.