Short Term Thinking Is A Bust
Criticism of any product or service today, is short lived. Technology and the concept of iterations has made short term criticism irrelevant. Products can get a version 2.0 within 6 months and if we focus on short term negatives, you might get easily lost in details that change soon after. Instead, it seems the best analysts are visionaries who focus on where technology might be many iterations from now.
Notable examples of products that change quickly.
- Google: The best example of iteration on successful ideas and embracing failure.
- Bungie: Their game Destiny got terrible ratings on launch, yet has been a living product that is very different today, from launch day 9 months ago.
- Apple: King of commercializing iteration, their products build on 2 crowd wowing features every year, even as the core product remains the same. Consider the MacBook Air when it was launched vs. today.
- Salesforce: a quarterly release cycle that iterates on the core product that many sales people have come to live and die by.
- Tesla: Firmware updates for a car. Iterative software that improves the vehicle experience post-purchase.
When we hear analysts criticize a company, its more important than ever to look beyond current offerings to try and understand where the software is trying to take the market. This becomes ever more important as software begins to power the world. Analysts have a tough job ahead to try and asses quick changing, untested markets for growth.