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Disrupting Sectors: DON'T Ask Permission, Just Offer Something 10x Better says Peter Diamandis

Name: Disrupting Sectors: DON'T Ask Permission, Just Offer Something 10x Better says Peter Diamandis
Uploaded: 2020-06-30T16:54:29+00:00
Duration: 55 s
Channel: Royston G King
Description: In this brief dialogue, the speakers discuss how to digitalize and disrupt an industry by emulating the approaches of Google and Amazon. The core…

30 Jun 2020 · 1 min

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In this brief dialogue, the speakers discuss how to digitalize and disrupt an industry by emulating the approaches of Google and Amazon. The core strategy is to deliver a product or service that is ten times better and ten times cheaper than existing alternatives, thereby rendering competitors and even regulators irrelevant. The conversation highlights that superior value can outpace regulatory attempts, especially when the offering is free or extremely low‑cost, making it difficult for authorities to impose effective controls.

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How does one tackle the industry if you want to digitalize it and bring it into the future?
You do it the same way Google tackled and transformed the, uh, the library, and the way Amazon tackled and transformed the post office. You don't ask permission. You offer something that's just 10 times better and 10 times cheaper, and people stop using the alternative. Right? That's basically it. It's like, if all of a sudden, you know, and then regulators say, we're gonna regulate against that, you know, maybe for a little bit, but if it's 10 times cheaper and 10 times better, you're gonna be out of office as a regulator. And if you do it for free, and then how are you gonna regulate something for free?