I thought this was interesting particularly because I was huge fan of polaroids growing up! But I’ve never stopped to think what happened to them. I thought they were a completely done for and I’m quite surprised they are still around. Unfortunately, I do not see a comeback for this company. Unless they were to somehow completely pivot into a new industry, I think their time is up. Their market is extremely limited and they just do not have the capability to compete in the current space.
This was very interesting. Had no idea the Louvre had all this. You don’t often think of old institutions such as these leading the way in digital innovation. I am curious if these kind of initiatives are seen at other museums. I’ve personally never experienced it and I’m wondering if the Louvre are the only one engaging in this kind of digital innovation. I think it would be fantastic at Natural History museums in particular.
Great blog! I also agree that Venmo is a digital winner and I can’t think of any service that offers the same quality and user experience. I’m curious to see how Venmo’s social experience (app interface, transaction timeline etc.) sets them apart. I believe the way the app is set up (like the use of emojis, ability to see what friends are charging each other) provides a setting that “masks” the potential awkwardness of requesting payments. It’s possible that this is something that could easily be copied by competitors and potentially improved upon. However, I believe Venmo has captured such a large share of the market and has thus created powerful network effects. Getting anyone to move off the platform now would be a huge challenge.