How Clay Christensen Invented the Interators Dilemma

Clay Christensen's Interators Dilemma was a phenomenon where companies would over-serve the market and a competitor would come in with a product that was actually worse. And he used mini mills as a classic example, but you can see this even with Microsoft Excel,. But then Google Docs comes along with a very simple spreadsheet that helps you with stuff that's just very easy and it's free. It starts to take share. So his, his ideas were really, really powerful. I had my early career had worked in buyouts buying companies. This is in the early 90s when you could buy a company for five times cash flow and use three times debt and cut some costs