“Different” Making Competition Obsolete | Lochhead of Different

The Big Themes:

• The business case for becoming a category creator in 2021: The “be different” category designers captured 51% of the revenue growth, and 80% of the market capitalization growth.
• Net worth of a typical White family is $171,000: Ten times greater than that of a Black family ($17,150). (Brookings)
• 10-second video clip just sold for $6.6M in “Non-Fungible Tokens” (NFTs): This selling of a piece of digital art has changed the future. A new category design could have profound implications.
• Netflix moves 2% of its cash to Black-owned banks. Twitter, Costco, others join in; Netflix moves $100M. Where do you bank?

The Big Quotes:

“They're trying to move the world from one way to another way. They take big risks in doing it. They have to have a point of view.”

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