Could there be a meaning to the term "bankruptcy-proof" industries

I want to start this with saying that I am not talking about the type of bankruptcy proof you will here in the case of showing the proof that your business or company went bankrupt.

In fact if you search it on google this definition will appear.

An official form submitted by a creditor setting out the basis and amount of its claim against a debtor in a bankruptcy case. The purpose of a proof of claim is to give notice of the claim to the court, the debtor, the trustee and other creditors.

This is the definition you way be familiar with. And for the most part it will make sense.

However, I formed a theory about the corporate sector which the modern economy has led me to believe could be true.

Which is that nor matter what happens in an economy there will still be some sectors that will be sustained regardless of the circumstances. Sure they might be affected by what has happened in the economy, but they will still be fully functioning.

At first this does not sound like a legitimate thing to be talking about since the obvious thing that will come to your mind is that industries do not go bankrupt and only some businesses in that industry does.

But they have been entire industries that have gone bankrupt completely in the past.

And there are industries that are set to disappear completely in the future.

In fact, in no particular order, here are some of the industries that are likely to be non-existent in the next two to three decades.

Telemarketing:

The telemarketing industry as we know it is set to die out completely in the not so distant future.

Advances in technology means it's cheaper and more efficient to make the process computerized.

Indeed, telemarketing is the industry most likely to be obliterated by robots, with a 99% chance that the job will be totally automated within 15 years, according to a study on The Future of Employment by Oxford University.

Still, those robots will still have their work cut out for them: 93% of calls fail, according to the Data & Marketing Association

cinema:

Illegal streaming, expensive ticket prices and viewers getting tired of the same big film franchises dominating movie theaters have resulted in an increasing fall in cinema attendance.

The global box office has seen sales down 6% in the first half of 2019 compared to this time last year, with some analysts blaming the large number of franchise releases such as Men in Black, International and The LEGO Movie 2.

Ticket sales in the US experienced the biggest drop, with revenues falling 9.4% in the first six months of 2019.

But while cinema is slumping online streaming services such as Netflix are booming, and the number of US households with a subscription to a streaming service rose from 12 million in 2009 to a whopping 71 million in 2017.

print media:

Newspapers and magazines are quickly becoming a dated concept.

The ease of access to news online and on TV means they simply no longer have the readership they once did.

Most recently UK women's magazine Marie Claire announced the closure of its print publication after 31 years.

Ad revenues also took a beating following the 2008 recession, and despite the economy thriving since, they've never recovered.

In 2016 print advertising for the New York Times decreased by 19%, just one example of the upcoming death of the industry.

Accountancy:

Research states that 33% of all jobs could be performed by robots by 2025. Accounting is likely to fall into this category.

Accounting firms are already using AI systems for tasks such as data entry and reconciliations, and as the technology continues to improve the need for humans will be greatly reduced.

Indeed, Google predicts that human-level AI will be available by 2029, making traditional accounting obsolete.

The coal industry:

As renewable energy sources continue to become more affordable, and with countries globally committing to reducing greenhouse gases, the coal industry is on its way out.

More than 34,000 coal mining jobs have been lost in the US over the past decade, and the figure continues to plummet.

One of the largest coal plants in the US, the Navajo Generating Station in Arizona, is set to be closed by 2020, signalling the beginning of the end for the coal industry.

Postal service:

To say the US postal service is struggling would be an understatement. Mail demand has fallen dramatically, and the volume decreased by 42 billion pieces between 2006 and 2010 alone.

As a result, the USPS is losing billions of dollars every year. 2.7 billion dollars in 2017.

With electronic billing becoming obsolete and people using social media to keep in touch, the future of the postal service looks very bleak indeed.

And some may say that innovation is what makes all things change. But what if I told you that are industries that exist now on whom we are very dependent on that did exist far in the distant past.

You may probably know them since it could be easily guessed. For example the financial or banking industry if you prefer has always be around and will of course always be around for a very long time.

But even this pales in comparison with other industries that have existed before.

So the question now becomes it is possible for an industry to never disappear nor matter the circumstances or the time.

That was what was though about by bankruptcy-proof as one word. Like bulletproof or waterproof which both means bullet resistant meaning it cannot be damaged by the penetration of bullets and water resistant meaning it cannot be damaged by water.

That is how the envisioned term bankruptcy-proof as in one word, came to be.

meaning an industry that is sort of resistant to factors that will usually make an industry go bankrupt.

Like innovation. Well it turn out there can be. nor matter what happens in the world people will always need to eat.

meaning that there will always be demand for food regardless or how the economy is doing so technically, the agriculture industry could never go bankrupt.

As its demand is indefinite. Also energy is something that powers just about everything in the world.

Now the energy industry could be seen as a joint of multiple industries together but the truth is that it is truly only one energy industry.

And nor matter what happens this industry will always be existent. Or another industry could be the technology industry itself.

The question what make these industries the ability to stay forever.

It is that not matter what happen in the world, there will always be need for those things.

The world simply cannot function without those things. Humans cannot live without eating, the modern world cannot function without the internet and we need energy to power the whole planet including people homes, buildings etc.

So the conclusion point is that if you want to think of an industry that cannot go bankrupt, then look at if normal life can exist without what the industry provide.

If it cannot then it is an industry that cannot go bankrupt.