The trick my father has used to succeed in various limited duration markets is to a) realize when you're in one and b) get out before it's too late. Both, especially the latter, are difficult and perhaps impossibly so in today's very well connected world, but he did it for e.g. 8 track tapes in the '70s (for a long window the law didn't require giving the RIAA a cut, just the artists) and C band satellite home video in the '80s (what the pros use(d) for distribution, now replaced by K band DirecTV and Dish Network).
A lot of people also made money in these areas but clung to their companies' obsolete business models for so long their net gain was modest or negative by the end as they rode them down to the crash.
A lot of people also made money in these areas but clung to their companies' obsolete business models for so long their net gain was modest or negative by the end as they rode them down to the crash.