Telephones would have been a mature business had the telcos not been able to market a second and third extension or line to the same household. When every household had all the phones it need, the market was saturated until the cellular phone industry took off, restarting the phone's S-curve again. That was the top of GM's S-curve. 4 Sport utility vehicles appeared in 1994. Sales doubled between then and 1997.
All organizations have an S-curve.
In the beginning of the curve around the turn of the 20th century there were few unions. When union membership took off it really soared - quickly. In the US the peak was around 1960. North American unions are not dead or even dying. The current model of unions, however, is past its expiry date.