05/01/23

📊 The Staying Power of Incumbents

Ryan Broderick reporting Facebook Watch Originals Are Shutting Down:

But in the same way no digital publisher became the next New York Times, Facebook didn’t end up becoming the next Disney. And it has to make you wonder if this entire era will end up being nothing than a blip amid the long, slow consolidation of power from huge 20th century media monopolies as they learned how to adapt to a new century’s technological landscape.

Ryan is making a good point here – and one which, I believe, can be expanded to many more incumbent organizations. As much as some people like to say “Uber Your Business Before It Gets Kodak-ed”, incumbents show staying power. From media companies, as in Ryan’s example, to retail giants like Walmart – it is a common and dangerous belief that the companies are run by idiots who can’t get on with the program.

It might take them a little longer (simply as their businesses are more akin to huge tankers rather than speedboats), but more often than not, they get it eventually. And once they turn, they plow right over all those lovely startup speedboats.