Dive into the dynamics of competition as the hosts explore how Blockbuster’s mistakes paved the way for Netflix's rise. They discuss the significance of choosing competitors wisely and the strategic positioning of companies like Shopify against established players. The conversation also highlights the complexities of venture capital, emphasizing the balance between experience and unique insights. With a touch of personal passion and authenticity, they unveil how these elements can drastically alter the landscape of entrepreneurship.
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question_answer ANECDOTE
Blockbuster vs. Netflix
Blockbuster's late fees were a major customer pain point, contributing to their downfall.
Netflix capitalized on this by eliminating late fees and offering a bundled subscription.
insights INSIGHT
Choosing Competitors
Choosing the right competitors is crucial for startups.
Consider how to provide high value without charging exorbitant prices for durable success.
question_answer ANECDOTE
Blockbuster's Missed Opportunity
Blockbuster almost beat Netflix by launching its own online service and streaming option.
A change in leadership caused them to pull back from the competition.
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In 'Zero to One,' Peter Thiel argues that true innovation comes from creating something entirely new, going from 'zero to one,' rather than incrementally improving existing ideas. He emphasizes the importance of vertical progress through technology and the benefits of monopoly in driving innovation. Thiel also discusses the need for long-term planning, the importance of finding the right co-founders, and the power law in startup success. The book challenges conventional wisdom and encourages readers to think critically and aim big to build the future[2][3][5].
Choosing Competitors Wisely
You know the line: Competition is for losers!
But what if the opposite is actually true? Today Hammad and Grant explore the topic of choosing your enemies (in reality:competitors), and how that sets your company up for success (or the lack thereof). We dive into Blockbuster, Netflix, Shopify, Amazon, counter-positioning, and much more. This is a topic relevant across the entire startup ecosystem, whether it’s AI and LLMs or the American Dynamism Cinematic Universe.
Hammad and Grant close us out with their perspective of how this extends beyond the business world, and Hammad even gets Grant to blush a bit before wrapping up.
Necessity, it is said, is the “mother of invention”. So perhaps competition could be called the father. —How to Innovate, Aristotle & Armand D’Angour
Exploring what makes great companies and technologies work. Brought to you by Grant Gregory & Hammad Aslam. Grant is an investor atCantos where he focuses on physical world technologies. Hammad is a Partner at Kivu Ventures,Susa’s growth fund. Learn more about the hosts:
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