Now I understand,
Why Facebook took over What’s up at an extremely high valuation at that time?
Because they didn’t want to become one more Orkut.
Because there is no place of ignorance on Facebook.
𝗕𝗲𝗰𝗮𝘂𝘀𝗲 𝗶𝘁 𝗶𝘀 𝗿𝘂𝗻 𝗯𝘆 𝗵𝗮𝗽𝗽𝘆 𝗲𝗺𝗽𝗹𝗼𝘆𝗲𝗲𝘀, 𝗻𝗼𝘁 𝗶𝗴𝗻𝗼𝗿𝗮𝗻𝘁 𝗲𝗺𝗽𝗹𝗼𝘆𝗲𝗲𝘀.
Do a root cause analysis of all the successful companies which failed.
Nokia’s growing bureaucracy and deep internal rivalries prevented them from recognizing the shift from product-based competition to one based on platforms.
Kodak invented the first digital camera but failed to market it.
Lehman Brothers collapsed because the management thought they know better than anyone else.
Take any company for that matter,
If we do the drill-down analysis, the companies fail because of ignorant employees.
They think they are too smart.
They ignore the upcoming challenges or changing trends of the business.
How do you identify such employees and how do you change them or remove them from the system?