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It’s simply not selling bananas to someone who already knows and eats bananas daily. According to Clay Christensen, who coined the term “disruptive innovation” in his classic , the startups that did succeed are those who had enough money to try their second idea.
Likewise, Paul Graham from Y Combinator states in one of his essays that for typical YC startups, 70-100% of the idea is new at the end of the program.
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The NBER does not define a recession in terms of two consecutive quarters of decline in real GDP.
They either launch a product that nobody has ever used before or they offer a new business model that has never been tested.
In many cases, the market can be entirely new with no guarantee of continued growth, e.g., flat sharing in Air Bn B’s case.
If you found a cheaper supplier of bananas for your local market – you’re in good business.
They won’t tell you what to build but they will tell you if you’re solving the right need.[pullquote]If you keep your idea secret, you will live in your own illusions with limited options to execute it the proper way.
Life is short, don’t waste your time and money.[/pullquote]When ideas do get stolen it’s usually after they are a proven success.
The reason why Apple Newton failed and i Phone succeeded was that both a) technology evolved to meet customer needs (internet, mp3 etc.), and b) the market needs evolved to the point where customers found adopting i Phones easy.
Same can be said of Tesla – one of the unmet needs of electric car users was sufficient range.
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Wozniak offered first Apple computer to HP and they laughed, just make a copycat few years later.