It is definitely a sign of the times. Take a six-year old company that has spread globally to drive a traditional service industry into obsolescence. Then consider the company’s real ambitions, which are much bolder than that. Finally, take note that it is already facing severe challenges as the market space it created is rapidly evolving. There is no time to stand still.
I find Malcolm Gladwell’s tireless inquisitiveness and unique perspective on social phenomena to be highly though-provoking. I was therefore pleased to discover not only our mutual focus on re-imagining higher education, but that we both identified the same core pain point of the current system: The outrageously high endowment of leading universities.
Since its introduction in 2007, the iPhone has already gone through 10 generations. That’s a new generation every year for a product that sets you back hundreds of dollars or long term carrier contracts each time. So how is Apple able to convince us to upgrade so willingly and frequently?
It’s magical when two formerly separate worlds come together for the first time. It is the spark of intersectional innovations, creating new levels of customer value. In Slingshot speak, we call it the ‘Innovation Shortcut’. Here is a fun example between The Joffrey Ballet and JW Marriott.
Not long ago Disney’s innovation in its theme parks was largely limited to creating more thrilling rides. This was both highly expensive and offered only short-lived distinction as competitors did the same. Meanwhile, visitors’ greatest pain point, that of waiting in intolerably long lines, went unheeded for decades. But then in 2000 the FastPass was introduced and started Disney on a whole new innovation direction.