Why Most Clones Do Not Work In Digital Business
In this piece, I explain why startups win, despite the efforts of older companies who challenge them in new areas they are pioneering. The older companies can come with money, experience and technology, but most times, they are solving problems, with the wrong incentives. Consequently, they adjust the problems to accommodate their incentives and in the process, solve an entirely different problem, resulting in loss. This week, Google is folding Stories, a temporary video format which it cloned from Snapchat. For Snapchat, it was something pivotal to its core product, but when Google cloned it, it was for something totally…
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