In 2007 Netflix was a profitable, growing DVD-by-mail business with no obvious threat. Hastings nonetheless launched streaming as a free add-on to existing subscriptions, knowing it would eventually destroy the DVD-rental cash cow. He internalised the cannibalisation rather than letting Blockbuster or YouTube do it from outside. A decade later the DVD business was a footnote; the company was worth two orders of magnitude more.
The principle: If a transition is inevitable, the only question is whether you do it to yourself on your timing or someone else does it to you on theirs. The first is uncomfortable; the second is fatal.