The key thing he missed is not the change in attitudes, but the evolution in technology. He was assuming e-commerce must mean ordering cds in the mail, and read

The key thing he missed is not the change in attitudes, but the evolution in technology. He was assuming e-commerce must mean ordering cds in the mail, and reading e-books on low resolution CRTs. Predictions about the future tend to overestimate change in the short term but underestimate it in the long term.