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MJ DeMarco
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From the other thread on SONOS...
View: https://twitter.com/MJDeMarco/status/1220486233345810432
Poignant story, but all too common.
Here is the often repeated pattern of stakeholder demotion that occurs when a company goes public. It is one of the "defects" of capitalism which is the source of ire for many. As a capitalist myself, I understand that it is an opportunity-- which by nature, defines capitalism.
#10 is where we entrepreneurs come in, anyone who wants to exploit the skewing opportunity.
This reoccurring truism will always exist. And it's why there is always opportunity... Adobe, Etsy, SONOS, Facebook, Upwork, Fiverr; the list is long and lengthy...
MARKETING - FTE - Sonos: How to ruin your brand and piss off your early adopters (of course, do it after you go public)
SONOS (which recently went public, at which point I knew the company would start to suck) apparently didn't have their "Great News!" email go off very well, which was news of planned obsolescence which in so many words, told customers to shit or get off the pot... (OF course, they just went...
www.thefastlaneforum.com
View: https://twitter.com/MJDeMarco/status/1220486233345810432
Adobe is a classic example of a company that got huge because of the value they delivered and their focus on the customer need. And as soon as their priorities shifted to profit, they lost their integrity. They are truly, completely awful now. I have so many examples of how disappointing their software is, and I've made my life on using it for 20 years.
Someone is going to come and eat their lunch. And I will enjoy watching it.
@SamRussell I downloaded trials of Affinity after seeing people trolling Adobe on their own Instagram account about how they liked Affinity better.
Think about that. This is how I learned about Affinity. From Adobe's own social media account.
Poignant story, but all too common.
Here is the often repeated pattern of stakeholder demotion that occurs when a company goes public. It is one of the "defects" of capitalism which is the source of ire for many. As a capitalist myself, I understand that it is an opportunity-- which by nature, defines capitalism.
- Build a great company with great products
- Adopt a customer/product centered approach.
- Grow like a weed... billions and billions!
- Go public
- Shift organizational priority to profit, beating Wall Street consensus earnings estimates every quarter
- Lower organizational priority for customers behind shareholders and employees (abandoning the customer-centric approach that allowed them to grow in the first place)
- Diminish customer service, lower value of the product, increase prices (outsource service, cheapen ingredients, "squeeze the towel!")
- Toss in a continuity billing model to foster #5 (e.i. Thanks Adobe!)
- Enjoy the slow decline of worse products, worse service, worse everything.
- Company reaches peak growth: enter maturation and decline ... the point old customers seek a new company to do business with.
#10 is where we entrepreneurs come in, anyone who wants to exploit the skewing opportunity.
This reoccurring truism will always exist. And it's why there is always opportunity... Adobe, Etsy, SONOS, Facebook, Upwork, Fiverr; the list is long and lengthy...
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