Talk about any startup long enough and eventually the question will arise:
“…and why can’t [incumbent firm] do this themselves and eat their lunch?”
If you are thinking of starting a company, funding one, or joining one, I’d be willing to bet you will inevitably face this question yourself. What then? Should you admit defeat and give up on your ambition then and there? You could easily make the case that the incumbent will be a fast follower once the upstart proves out its business model and quickly proceed to supplant them, and in most cases, you’d be right.
However, we all know of cases in which a startup manages to build a successful business seemingly right under the nose of the incumbent. How does this happen? How do challenger firms grow from an insignificant after-thought to a major threat? These are often cases where the upstart firm found a business model that is Counter-Positioned to the incumbent firm. …
Disclaimer: this piece is not intended to be an in-depth exploration of the topic at hand, rather a quick stream of thoughts that will hopefully stimulate broader discussion. I expect holes to be poked in my arguments, and have no illusions as to my ability to predict the course of future events.
In the cryptosphere, we like to spend some of our time thinking about the answer to the questions ‘When, where, and how will we see adoption of digital currencies?’, …