Business Breakdowns: The rise and fall of “Blackberry” with Lon Harris | E1773

Jul 7, 2023

Lon Harris, a filmmaker and media personality, shares insights from the movie 'BlackBerry.' He discusses the rise and fall of the company, emphasizing the importance of having complementary co-founders. The conversation also covers the pitfalls of leadership distractions, particularly in the wake of the iPhone's innovation. Lon highlights the necessity of understanding market dynamics and product velocity. Additionally, they explore how storytelling and team dynamics impact business success, connecting cinematic lessons to real-world entrepreneurial challenges.

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ADVICE

Multiple Co-founders

Having two or three co-founders with complementary skills is crucial for a successful company.
Each co-founder can focus on their strengths, covering product, culture, and business aspects.

INSIGHT

Market Pull vs. Product-Market Fit

Blackberry experienced extreme market pull, not just product-market fit.
The demand was so high that it overloaded networks, demonstrating the product's value.

ANECDOTE

Burning the Boats

Jim Balsillie invested in Blackberry without due diligence, discovering significant debt later.
His "burn the boats" moment created pressure that spurred the company to action.

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Today’s show:

Lon joins Jason to extract the business lessons from the film Blackberry (2:19). The two discuss the company’s rise and fall, the benefits of having multiple co-founders (9:11), the psychology of framing (23:05), knowing when to "fake it 'til you make it" (56:19) and much more!

Time stamps:

(0:00) Cold open! “What got us here won’t get us there.”

(2:19) Jason and Lon intro Business Breakdowns - a new series!

(5:51) Blackberry cast breakdown

(9:11) Lessons: Importance of having multiple, complementary co-founders and market pull

(13:25) Vanta - Get $1000 off your SOC 2 at https://vanta.com/twist

(14:32) Lessons: “Burn the boats,” importance of diligence, product velocity

(21:51) Embroker - Use code TWIST to get an extra 10% off insurance at https://Embroker.com/twist

(23:05) Lesson: Framing the product or pitch

(26:11) Lesson: Importance of riding and recognizing paradigm shifts

(31:04) Lessons: Marketing as a status symbol, real-world virality, being of action, “bend don’t break”

(36:50) Lesson: What got you here won’t get you there

(40:53) House of Macadamias - Get 20% off and a free box of Namibian Sea Salted Macadamia Nuts at https://houseofmacadamias.com/twist by using code TWIST20

(42:12) Lessons: Blackberry’s downfall, importance of focus, product association

(53:13) Lesson: Knowing when to cash in your chips

(56:19) Lesson: Know when to “fake it ‘til you make it”

(59:51) Business Breakdown Awards, presented by Jason and Lon

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