Megacorps can (thankfully) barely swim in new waters. These guys didn’t even start out in a completely new field.
The hubris when they think they can just create a new entire platform which people have no experience with, no mistakes to learn from etc. Especially so when the ones taking the wheel are anxious upper-mid PMs which are used to AB-test a color changed button for engagement improvements. It may sound harsh, but I can assure you that many, many of these decision makers haven’t even played Minecraft/Roblox etc and have no idea what would be compelling to “real” people. That’s why you get a remote office in the metaverse, because that’s at least one thing they live and breathe.
In my view, novel areas need grassroots “see what sticks” type of innovation, often by tiny teams/passion oriented nerds. I think the gaming world, with all its faults, understand this MUCH better than the FAANGS, because they simply have to.
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.
The hubris when they think they can just create a new entire platform which people have no experience with, no mistakes to learn from etc. Especially so when the ones taking the wheel are anxious upper-mid PMs which are used to AB-test a color changed button for engagement improvements. It may sound harsh, but I can assure you that many, many of these decision makers haven’t even played Minecraft/Roblox etc and have no idea what would be compelling to “real” people. That’s why you get a remote office in the metaverse, because that’s at least one thing they live and breathe.
In my view, novel areas need grassroots “see what sticks” type of innovation, often by tiny teams/passion oriented nerds. I think the gaming world, with all its faults, understand this MUCH better than the FAANGS, because they simply have to.