Sep 2, 2022
Apple killed dozens of businesses in 1 hour
What would you do if Apple added a feature that made your startup obsolete?
WWDC is Apple’s flagship event where they invite developers and enthusiasts from all over the world to join them as they unveil some of their coolest, latest updates.
Most of the time, its awesome news for everyone else.
But for a few startups, it can be terrible.
Why?
Well imagine you are a grungy, fledgling startup that is developing a software that can magically turn your selfies into messaging stickers effortlessly.
It is fun, exciting and your users love it.
But guess what, Apple suddenly announces a new update to their iMessage that essentially allows you do turn any selfie into a sticker.
Poof.
That’s the sound of your startup dreams evaporating.
Sure it may not be the end of the world, but it sure makes it a lot harder to compete with a colossal player like Apple isn’t it?
Of course I am speaking hypothetically, but the concerns are real and equally tragic.
Startup founders struggling out there, you must know what I am talking about.
The announcements were made in just under an hour.
Lets see what Apple revealed in their latest WWDC and how many startup they potentially destroyed.
Apple Pay Later — Buy now, pay later. No interest.
Startups potentially hurt: Afterpay, Klarna, Affirm, Sezzle, Splitit, Perpay.
Freeform — A minimalist collaboration whiteboard.
Startups potentially hurt: Mural, Figjam, Miro, Whimsical.
Passkey — The end of the password as we know it?
Startups potentially hurt: LastPass, Dashlane, 1Password, LogMeOnce, Keeper.
Tap to pay — Tap a wireless card or iPhone against an iPhone to pay.
Startups potentially hurt: Square, Clover Go, Toast.
I got some of the info from Jano, another writer who discovered this interesting thought.
So unless you are a startup founder yourself, personally going through the struggle and deep in the trenches, this probably won’t affect you.
That is what Apple, the mother of tech business, can do to even founder they probably never heard of.
That is the true might and influence of Apple, after ballooning to such a scale and size.
It just released its Q2 results and it made a whopping $83B.
Thats $83B in 3 fricking months!
iPhone sales was half that at $40B.
Its market cap stands at $2.6T.
As I wonder how they made all that moolah, I am typing all these on a SGD $2,600 iPhone.
Shakes head and laughs awkwardly at the irony.
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Do you watch Apple’s keynotes?
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