A Quote by Michael J. Silverstein
Companies that get in trouble have a failure to see two realities: market trends and competitor attacks.
Related Quotes
When an entrant competitor attacks the low end of any market, the rational reaction of the incumbent firms is to abandon rather than defend it - because the low end is the least profitable of their possible investments.
The trouble is that in south cinema, after you become successful at the box office, market realities dictate your choice of films, and it becomes difficult to experiment.
Big money is made in the stock market by being on the right side of the major moves. The idea is to get in harmony with the market. It's suicidal to fight trends. They have a higher probability of continuing than not.
Basically my point of view on unicorns is that private companies which have sky high valuations, it doesn't really mean anything in the real world until it's marked to market. And there's only two ways things get marked to market in venture capital: Either a company is acquired by another company for cash or marketable security, or it goes public, and then it has reporting requirements and then the market will determine the value.
Activision and Blizzard both believe that we're in an expanding market where we can reach more people across multiple platforms, geographies and age groups. Both of our companies are positioned very well to take advantage of those trends to keep lowering the barriers to get more people into gaming.
The Chinese government still would like to see U.S. Internet companies explore the Chinese market, providing they are willing to abide by Chinese law. I think companies like Facebook should think about the Chinese market.
AIG's failure revealed systemic problems in the OTC derivatives market that went well beyond the failure of a single market participant.
When there were not very many Internet companies, the supply of Internet companies to the market was small and the appetite for them was large. Therefore, if you were in the business of creating Internet companies in 1996-98, you had a market that provided massive demand for that.
But by shining these lights in different places, they really have uncovered things that companies in their own interest are trying to clean up. We're not going to get rid of the realities of global competition. But these companies, like Nike or Gap, have global brands that they want to protect.
The New Finance focused on the market's major systematic mistake. In failing to appreciate the strength of competitive forces in a market economy, it over estimates the length of the short run. In doing so, it overreacts to records of success and failure for individual companies, driving the prices of successful firms too high and their unsuccessful counterparts too low.
Trends suck you in, anywhere in the world, patterns you don't even see. It's so easy. Look at Wall Street - look at any sports team in the world - there are trends. Look at exercising. Nothing but patterns and trends, and that's what I started to see. Like a flock of birds all flying in one direction.
Bet on black. Buy low-debt or no-debt companies. When the economy is in trouble, these companies usually have enough cash on hand to stay out of trouble. And they seldom need to borrow when interest rates are high.
I met Rosa Parks when I was 17. I met Dr. [Martin Luther] King when I was 18. These two individuals inspired me to find a way to get in the way, to get in trouble. So I got in good trouble, necessary trouble.
People are storytelling creatures. We like stories that go somewhere, and therefore we like trends - because trends are things that either get better or get worse, so we can either rejoice or lament. But we mistakenly depict many things as trends moving in some direction. We take the "full house" of variation in a system and try to represent it as a single number, when in fact what we should be doing is studying the variation as it expands and contracts. If you look at the history of the variation in all its complexity, then you see there's no trend.
The game Flights of Fancy or Reverse Strip Jump is played from as high a jumping-point as a competitor will dare. After each successful jump, the competitor is allowing to put on an article of clothing. Thirteen jumps is normally more than enough to see a competitor fully dressed for the day.
Make sure that you take the time to think about how other companies might respond to your idea, both those companies already in the market you plan to target as well as others that might imagine targeting that market.
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