This is an epic example of a massive loss in failure to cope with the Digital Revolution – thanks for writing on this. Based on the learnings of Blockbuster, and apart from the overarching lesson of “coping with change,” I do wonder if there are any specific lessons we can learn based on how Blockbuster’s decisions were made, or future projections that should have been (but weren’t) thought about, to think about what they might have done to survive the digital revolution. While we see Netflix as a clear model winner, it isn’t the only way players in the industry could have won — it’s only the clearest by virtue of the fact that Netflix happens to be today’s winner. For example, YouTube, Amazon, and Redbox have all encroached on overlapping spaces with Netflix, albeit with diverse approaches; with a few tweaks, it is possible that Blockbuster, while not necessarily being able to cement its former position on-top, could have made viable transitions.
This is a very interesting topic and post. I actually first became introduced to Polyvore through Pinterest, which are high quality, and have very strong engagement stats – clearly they are doing a fabulous job through this social media channel. Further, Instagram knows what its users want based on prior pins, so it’s a great way of aligning Polyvore’s value proposition with its chosen social media channel. In that, I am skeptical about how the company intends to leverage other social media channels in a way that effectively aligns with its value prop the way Pinterest can. I am also curious about what you think Polyvore should do next to lock in its position as a winner for the long-term.
Before I moved to Boston (and actually had a car) I actually used Metromile and was fascinated by the monthly reports I would see on my driving stats. It was really fantastic that up-front, the Metronome devices were free as an on-ramp to their service. However, I never ended up buying insurance from Metromile; in fact, in their monthly report follow ups, it was never even clear that they were offering insurance, and they sure didn’t make a concerted effort to convert me to be a customer – ultimately, I merely contributed to their costs.
In fact, I know a lot of other users like me, who recommended the Metronome just to get a grips on and manage driving activity. This leads me to my question of how successful Metromile has actually been, and my skepticism around whether it is really a winner as opposed to a company who is losing out in the Digital Revolution. Clearly, there’s a lot of potential, but I think much of it has yet to be truly captured by the company.
Jess – This is a very interesting topic! On the topic of The Skin Deep Database winning, I am curious to know how successful it has been in terms of its real impact in empowering X people to make Y more informed decisions, or choices that are better for them. I haven’t heard of the initiative previously, but would be interested to know by what metric it has manifested success.
Subsequently, by this metric or others, it would be great to know what you think The Skin Deep Database needs to do to achieve greater success and/or get to the next level.