One of the biggest things people don't understand about startups is how far they have spread beyond classic "tech."
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Since incumbents can't win by making something better, the ultimate limit to the spread of startups may be regulatory capture. E.g. Airbnb.
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It's a challenge to write an essay in which each 140 chars works by itself. Not an impossible one, but it does make the tone a bit oracular.
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You've got an entire ecosystem of "insuretech" startups that at the end of the day cant really do their job properly because
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Although for some industries that haven't seen much startup activity it's precisely because they have strong, often regulatory, defenses.
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Absolutely true and plenty of opportunities
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One industry with lazy incumbents, that comes to mind, is banks. I've never had a good experience with them. Adequate at most
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You say lazy and public service comes to mind
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insurance companies can't interface with them and aren't even properly "digitised"
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And they have no intention of going digital, because their "business model" has been working for the past 100 years...
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BUT incumbents can also make life impossible/super hard for startups, just looking at insurance I see an example of that.
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