Are we on the eve of another Vegas destruction?

What happens when a cultural shift renders your business model largely irrelevant? Why are so few businesses able to see beyond the blur of their own Kool-Aid to make rapid adjustments?

Off tomorrow to America's greatest marketing laboratory: Las Vegas.

In advance of the annual International RE/MAX conference, I'll be heading out to Vegas a bit early for some R&R, and also some marketing observation work.

The downturn has hit Vegas hard. Normally, giant industries crushed by cultural and economic change respond really poorly and fade into the sunset. And Vegas was all-in on the condo construction boom (a year ago, I was amazed by the size and scope of the MGM City Center condo complex -- which has now been halted).

But if any place has proven its ability to get up off the mat, blow itself up and start over, it's Vegas. In the past 15 years, Vegas reinvented itself as a family haven, then turned toward the opulence of America's debt spending spree. The most recent version of Vegas features high-end retail, luxury condos and expensive clubs. Now, it faces another huge challenge as wretched excess finds itself on the outs. But Vegas has a good chance to reform and prosper. The city and its entertainment industry actually celebrates its own creative destruction because it has faith in its ability to seize new opportunity. Most of our businesses should be so lucky.

I really don't care about gambling, but I will look for early signs of another Vegas rebirth. The Strip isn't my favorite destination, but am intrigued by its ability to turn itself upside down and inside out in response to changing culture.

I wonder what Vegas will have up its sleeve this time. Looking forward to finding out.

Photo: Flickr/danramarch