Eric Siu explains how Chinese appliance maker Haier escaped bankruptcy by splitting into roughly 4,000 independent business units, some spun out as public companies, while building smart appliances and constantly pivoting. A book called The Startup Factory documents the process.
Have you heard of Haier before? The appliances company in China? They are huge. Basically, like they're about to go bankrupt and then the culture was terrible. But now they have like 4,000 business units within the company and 3 or 4 of the business units are publicly traded companies. They build like smart refrigerators, smart appliances, and they're number one. They like were in the outhouse and now they're up in the penthouse. That guy has a book called The Startup Factory and it shows their entire process on how they went from like nothing, pivoted, pivoted again and pivoted again.
