Innovation: Scarce/Expensive to Ubiquitous/Cheap

I’m sure that many people have told you, “we’re living in an amazing time.” While this may be an over-used expression, it really is true – especially when you think about how businesses are run. Today, the rise of disruptive innovation continues to change our ability to access more services with greater ease than ever before.

Through the years, we have seen the trickle-down effects of technology becoming more readily available for a wider audience. However, the scale which disruptive innovation in the tech world has impacted our lives is nothing short of remarkable. In other words, services that were once scarce or expensive are now ubiquitous and cheap. To illustrate the effects of disruptive innovation, here are five examples:

  1. Cloud Computing.

    • Today, it’s never been easier to automate processes or interactions. Furthermore, the costs for doing so are minuscule compared to the scalability of these solutions. That said, we haven’t figured out how to automate every process. However, the ability to do so at scale has never been easier.
  2. Smart Phones.

    • Global connectivity has never been this easy or cost-effective. People on every corner of the globe have access to a mobile device. As a result, we have the ability to communicate with billions of people by reaching into our pockets.
  3. Social Networks.

    • These platforms have taken community engagement and collaboration to another level. Most importantly, the scalability and relative cost savings for extraordinary. For example, think about how Uber acquires a new driver. They don’t pay for a driver or their car. In addition, Airbnb doesn’t pay to acquire a new property. In both cases, their business partners emerge organically with virtually no acquisition cost.
  4. Data Science.

    • While this is not a free service, the algorithms for collecting data do not carry any costs. As a result, the rise of data innovation will continue to scale the availability of these services. Furthermore, the costs for accessing this data will rapidly decrease and become more readily available to a larger audience.
  5. “Internet of Things.”

    • Just as we have seen digital systems optimized with the introduction of disruptive innovation, the same holds true for physical systems. While we are not yet at a point where every system can be digitized for full automation, the realm of possibility for doing so will continue to increase.

Click here for our latest blog posts
About the Video:

About the speaker
Geoff Moore Member

Geoffrey Moore is an author, speaker, and advisor who splits his consulting time between start-up companies in the Mohr Davidow portfolio and established high-tech enterprises. Organizations include Salesforce, Microsoft, Intel, Box, Aruba, Cognizant, and Rackspace. Moore’s life’s work has focused on the market dynamics surrounding disruptive innovations. His first book, Crossing the Chasm, focuses on the challenges start-up companies face transitioning from early adopting to mainstream customers.

Provide your rating for this post
If you liked this post, please use the buttons to the left to share it with a friend or post it on social media. Thank you!

Leave a Reply

Read more

Behavioral Economist Kristen Berman on Using the Insights of Irrationality

Behavioral Economist and co-founder of Dan Ariely's Irrational Labs, Kristen Berman shares examples of using insights to build great products

WeChat partners with Products That Count

WeChat is kinda the Facebook of China: an addictive messaging platform like we've never seen in the West with 800M active users

Growing Pains: The Challenges of Scaling a Business

Diane Pierson discusses why startups have issues scaling and why she thinks this has confused both established businesses and startups.

/ Register for Free

Don’t be left behind in your career. Join a growing community of over 500K Product professionals committed to building great products. Register for FREE today and get access to :

  • All eBooks
  • All Infographics
  • Product Award resources
  • Search for other members

Coming soon for members only: personalized content, engagement, and networking.