One of the most brilliant consumer products in recent memory is now dead–the Flip camera. It was so portable and easy to use, and delivered such high-quality video. But it reached obsolescence in record time. What killed it?
Another technology: smartphones.
There’s a real lesson for business and entrepreneurs here. Don’t allow yourself to get tunnel vision. Nothing stays the same. The company that was worth $600 million dollars just two years ago is not even worth a penny today. Things change so quickly, and you have to be willing to change with it.
Clark recalls his first real business, a travel agency he owned in the 80’s. Back then there was no internet, and all tickets issued were physical paper tickets. The money it cost him every year to rent computer terminals hooked up to airlines was equivalent to the cost of a fleet of cars today! 30 years later, one can buy a netbook for $99 that has far more capability.
And another maxim: the bigger a company gets, the dumber they become, losing the ability to invent ideas internally. The result? Instead of being creative, they’ll go out and purchase technology that instantly becomes a has-been, as was the case with Cisco and the Flip camera.
Unleash your creativity–it’s in you!