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#173 Louis B. Mayer (MGM Studios)

Founders

NOTE

Embrace Change Over Resistance

Industry leaders often misinterpret new products as mere competitors for customer attention, failing to recognize the broader evolution in entertainment. The shift from silent films to sound films and the rising popularity of radios highlighted a significant technological transformation that captivated audiences. This resistance to change reflects a historic pattern where industries are slow to adapt compared to the rapid acceptance and demand from consumers. Edwin Land emphasizes that industries will resist change longer than private customers will embrace it, underscoring the critical insight that betting on consumer behavior is paramount for success.

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