We are essentially becoming good at growth but really bad at innovating or building new products which are either zero to one or fundamentally better than the alternatives that exist. Most of the companies, even the ones that are raising a lot of capital are the ones good at Growth but not so good at building something.
Gaurav, good observation! The kind of product innovation that creates new markets always goes against the grain. We need to be levelheaded about failure and comfortable with the inherent messiness of experimentation. Also, I think, It is time to start thinking in terms of building platforms and ecosystems, not products. A good product is an "experience".
Most of today’s successful companies are more like Tesla, which combines a set of technologies that already existed, rather than SpaceX, which had to pioneer new ones.
This is not to say that technology innovation is unimportant. You're absolutely right growth doesn't create value in itself ; for that, it has to be paired with working business model and Technology innovation is a key factor in retaining the gains produced by business model innovation.
Deep innovation can take time blossom. It needs to be backed and funded.
A lot of tech infrastructure innovation can potentially come out of these high growth companies solving their unique scaling problems. These solutions must get open sourced and get wider adoption.
This infrastructure when platformized enables higher order thinking, making way for a new class of products and innovation in business models.
There's all sorts of other ways we can get to the innovation stage, but this one seems to be a path of progression from where we are. We shouldn't miss the opportunities.
I actually try to do fundamental shifts - and fundamentally different is a little misplaced when I first thought about it.
Now that I am writing, there may be a fundamentally different product. But above that exists a zone where you process things a little obliquely, here you work towards not being fundamentally different let’s say from the start.
To clear, if I am making the big bang model - I may start with a new concoction or try differently in the existing model.
The point is I have found existence in the Indian market of a scope where you leverage the fundamental derisions by accumulating many of them and build a difference, here is a space which is constantly trying fundamentally different explorations.
While the one which I don’t know if is viable that of changing the variables from the beginning.
Would say thats a Tesla and Edison difference if imagined. Tesla was more fundamentally different.
Yet! I couldn’t prove your point of being fundamentally different from the start and that was by motivation to interject.
Gaurav, good observation! The kind of product innovation that creates new markets always goes against the grain. We need to be levelheaded about failure and comfortable with the inherent messiness of experimentation. Also, I think, It is time to start thinking in terms of building platforms and ecosystems, not products. A good product is an "experience".
Most of today’s successful companies are more like Tesla, which combines a set of technologies that already existed, rather than SpaceX, which had to pioneer new ones.
This is not to say that technology innovation is unimportant. You're absolutely right growth doesn't create value in itself ; for that, it has to be paired with working business model and Technology innovation is a key factor in retaining the gains produced by business model innovation.
Great to see you have identified the problem. Product innovation either comes from:
- patient tinkering (with an inventor's mindset)
- or, an accidental insight
The former can't come without a rich ecosystem of support and the latter can't be predicted :)
Deep innovation can take time blossom. It needs to be backed and funded.
A lot of tech infrastructure innovation can potentially come out of these high growth companies solving their unique scaling problems. These solutions must get open sourced and get wider adoption.
This infrastructure when platformized enables higher order thinking, making way for a new class of products and innovation in business models.
There's all sorts of other ways we can get to the innovation stage, but this one seems to be a path of progression from where we are. We shouldn't miss the opportunities.
I actually try to do fundamental shifts - and fundamentally different is a little misplaced when I first thought about it.
Now that I am writing, there may be a fundamentally different product. But above that exists a zone where you process things a little obliquely, here you work towards not being fundamentally different let’s say from the start.
To clear, if I am making the big bang model - I may start with a new concoction or try differently in the existing model.
The point is I have found existence in the Indian market of a scope where you leverage the fundamental derisions by accumulating many of them and build a difference, here is a space which is constantly trying fundamentally different explorations.
While the one which I don’t know if is viable that of changing the variables from the beginning.
Would say thats a Tesla and Edison difference if imagined. Tesla was more fundamentally different.
Yet! I couldn’t prove your point of being fundamentally different from the start and that was by motivation to interject.
Good lick India and the World!