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Originally Posted by Internet Guy
Excellent post! Spot on. Many of those industries enjoyed oligopoly style control over their markets, and when you have this - what's the point of innovating (making your service better), they grew complacent and opened big windows for new players
I would add Banks and "Fintech" maybe even Fintech/Crypto Assets, that is an industry which is begging for a shake up - huge profits, dominated by a handful of giants (in my country anyway) - and slow but steadily, they are seeing a new system crop up which is designed not to fight them, but build something new and simply walk around them and their antiquated ways. I just noticed, you actually did write "finance" in there, haha. Posting anyway ;)
ps. twitter hasn't even made a profit yet. Curious if they found somebody to buy the company yet? know they were/are looking.
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It was a good post. The flaw in Barry's thinking is none of those businesses has to compete with a parallel service giving the product away for free. A real marketing man would know that.
And there's our problem. Barry now competes with Free Chat sites who have gained their traffic at the expense of his model Cam site. Pre-Recorded porn has been devastated and now a shadow of its previous size. The next to shrink will be dating as users move to apps like Tinder and Grinder which are far better and cheaper than the Match.com model.