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Nilotpal Chauhan
•
Pixelmira • 5m
No one needs innovation that is not useful. Innovation is seen as building it inside-out like an artist, but building outside-in is much more optimized way how most of the great products have built in the past. Naval's quote of building it right and the users adopt it later is a fantastic example of iterations after you put the first version in front of the users and iterate it according to the user-behavior till it becomes exactly what the user wants. Some founders find the desire to do something different more intense than the desire to do something useful. Doing old things better, optimizing the efficiency in new ways can also be a great useful innovation. We have great examples like Stripe, SpaceX, Facebook, Amazon, Google, etc. Even if you compare the odds of success between likes of AirBnbs and Amazons, you will find of course innovative ideas sometimes benefits as the early movers, create industries but it's the second movers who have 45% better odds of success and turned out to be substantially valuable.
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