Hive, Facebook and companies to big to fail.
To big to fail is a fallacy, this knowledge gives me confidence.
HIVE
Many people on Hive are happy to be here riding this revolutionary rocket called tokenized social media.
We are optimistic about the future, and the amazing achievement of one million accounts on Splinterlands suggests mass adoption of Hive and projects on Hive is possible.
However, many feel that entities like Facebook and YouTube have insurmountable leads in the social media space. They are said to be to big, and to widespread across the nation to ever be replaced.
They are to large to fail.
It’s huge, it’s spread all over the globe.
- It is estimated to have 800 million accounts per one source and 1.1 billion accounts by another source.
- It’s revenues per year number in the billions.
- Its clout or power in the technology space is infamous.
- It is rumored to either buy it’s competition or crush them into the dirt using it’s affluence and influence.
YouTube
It’s huge, it’s spread out all over the globe.
- It’s estimated to have over 600 million accounts and to reach billions of people daily.
- it is described as The Video Library for the world.
But are they to big to fail?
I read a post by @taskmaster4450 in which he spoke of the relentless evolution of technology, and how technological advancements threaten the current dominant technologies.
Discussions like this usually end with stories about large American Retail Businesses. Companies like Blockbuster, or Sears or other famous, but mainly American Retail stores.
But I don’t want to talk much about these entities, which were mostly in America. Even though they were in all 50 states, hundreds of cities, employed thousands of people and had annual revenues in the hundred million range.
When I think about Facebook and YouTube being to big to fail, and when I hear about Hive and tokenized social media having no chance to ever surpass them, I think of IBM, yes International Business Machines.
IBM versus MicroSoft
IBM was essentially the FaceBook of its era, in another business niche.
IBM was spread out over the globe. It literally had the word International in its name.
IBM had stores, inside buildings it usually owned, in nearly every country where computers were used in businesses IBM was there.
IBM was dominant
IBM was a near monopoly
When personal computers first came out, they were called IBM PCs.
All over the world computers ran IBM software
IBM was such an huge part of the Business Culture and the Computer Culture worldwide, that its name became synonymous with both.
- A Personal Computer was not a PC, it was an IBM PC.
- A business computer wasn’t a business machine, it was an IBM business machine.
- After a while they were both just called IBMs
IBM was To Big to Fail
IBM had a huge head start over any of it’s competitors
IBM had huge market share.
IBM was the dominant player in its industry, international, up until it wasn’t.
MicroSoft
The irony of the IBM story is that most people are not aware of how big IBM once was…and some people have never even heard of it. But most people know it’s conquerer MicroSoft, and its product called Windows.
MicroSoft was once a small, obscure garage based business. Which had core characteristics that IBM didn’t possess. And it’s products; both hardware and software were all cheaper, and easier to use.
MicroSoft is now a household name, and personal computers around the world, are no longer called IBM PCs, they are called Windows PCs.
Hive
So when people ask me why I think Hive has a future, or why I think Tokenized Social Media will someday surpass and replace FaceBook, YouTube or even Twitter. Which are companies that people think are to large to fail. I think of IBM, and Blockbuster and MySpace. And I say that companies that don’t innovate, and don’t learn to ride the rocket of change, they won’t survive. Regardless of how big they are, if customers leave for newer technology and innovation the company will fade into obscurity.
The End..for now.
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Thank you for the re-blog!! I will continue adding to that collection of links. And if you think I should make it more pretty with pictures, or keep it simple.. lemme know!
Your welcome, great article. I wouldn't change anything.
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I'm really happy to be a user of Hive: Blockchain. You've just analyzed the possibility of growing up on Facebook and YouTube and failing to stay together compared to IBM. It seems to me that the user will turn away if the technology does not change. Hopefully, Hive will one day surpass Facebook and YouTube as well.
Yes, exactly, consumers have shown themselves to be very fickle. :)
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As long as HIVE doesn't get sold out to another Justin, Google, Dorsey or ....
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That would be potentially problematic, but a bridge we would have to cross when we get to it. I hope if it happens, we would be bought by someone who shared the dream.
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Eventually most things might get too big and that makes it hard to develop. People prefer to just keep going with what they have and ignore what is actually changing. At least these companies have become too big to fail because it would take down part of the market with them. I like HIVE because we are continuously developing and as long as that doesn't change, we will do well.
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Yes, it does get harder to change and innovate as you get bigger. It is difficult to teach everyone in a large organization new things and your profits cover a multitude of inefficiencies, which smaller, nimbler companies can't afford, so they change, innovate and become more efficient. I think people do like the familiar, so new companies have to make switching easy by using similar interfaces. I like what Leofinance did with their easy sign-up by making it just like Facebook or Twitter, so people could easily do what was familiar for a different content experience.
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