A couple of things that came to mind while reading:
1. Sometime being first is a disadvantage, especially if adjacent/enabling industries have not caught up. For example, Phillips released the first TV with HD capabilities. The problem was that most cable providers didn't provide HD quality streams. Needless to say, Phillips's product didn't go far.
2. The commonality in the examples you give is business model innovation. They all provide centuries old services but they do it in a different way.
Hey Vic! Love these points thanks for sharing your thoughts
1. Totally agree, I recommend reading ‘how innovation works’ by Matt Ridley. It’s where I pulled some of the quotes from and is fascinating in how he breaks down the iterative stages of innovation and how it requires multiple people/businesses over time.
Excellent article, Josh!
A couple of things that came to mind while reading:
1. Sometime being first is a disadvantage, especially if adjacent/enabling industries have not caught up. For example, Phillips released the first TV with HD capabilities. The problem was that most cable providers didn't provide HD quality streams. Needless to say, Phillips's product didn't go far.
2. The commonality in the examples you give is business model innovation. They all provide centuries old services but they do it in a different way.
Hey Vic! Love these points thanks for sharing your thoughts
1. Totally agree, I recommend reading ‘how innovation works’ by Matt Ridley. It’s where I pulled some of the quotes from and is fascinating in how he breaks down the iterative stages of innovation and how it requires multiple people/businesses over time.
2. Great framing! I hadn’t seen it in this light