As a counter-example, I’d point to Apple developing the smartphone market, although many big corps tries and failed before Apple.
I think Facebook though has a special cluelessness/arrogance which might be more widely shared by the ‘new monopolists’ of two-sided markets who inevitably mistake their luck of the draw (having the two sided marker) for their own merit and skill. Thus that kind of company can be world-leading and senescent at the same time.
Yeah thanks for filling in the gap, this is indeed very true. It’s also known as the Steve Jobs complex, and is a common yet medically serious self-delusion plaguing many of our poor tech billionaires today.
I think that whole journey is gravely misrepresented and narrativized. Much because Jobs died on such a high note. And also because people like the blackberry -> iPhone story more than they like the iPod -> iPhone story.
Also, Zuckerberg is desperately craving an ecosystem because he wants a land to rule, not because he’s a nit picky design fascist like Jobs. I think the App Store as a business success was much more a lucky side effect than people post-rationalize.
I think Facebook though has a special cluelessness/arrogance which might be more widely shared by the ‘new monopolists’ of two-sided markets who inevitably mistake their luck of the draw (having the two sided marker) for their own merit and skill. Thus that kind of company can be world-leading and senescent at the same time.