Superior Products Can Fail
Even though a new product checks all the boxes of technological superiority, it can still fail. For products that require third parties to implement the business model, it's even harder to nail.
The emphasis on technological superiority almost doesn't matter. Sure, it's a factor, but it's not the whole story by any means.
It's not like designing a better mouse trap. The mouse trap analogy doesn't include third party implementation. If your product is completely stand-alone, technological superiority might work.
The minute your product relies upon third party relationships to roll out, that's when technological superiority starts to take a back seat.
Case Study: 3DO
So why did 3DO fail?
- Late breaking changes that delayed titles.
- Hardware centric royalties.
- Few exclusive titles.
Case Study: N64
Why did N64 succeed?
- Leveraged arcade titles with superficially related hardware.
- Emphasis on lower console per-unit costs (cartridge instead of CD-ROM).
- Title centric royalties.
- Many exclusive titles.
Betamax and VHS if you're going back further. Betamax was apparently better tech, but VHS got all the licensing tied up and thus all the new movies were easier / cheaper on VHS.
For crypto - whichever of the Ethereum, Neo, NEM, EOS etc actually start getting applications out that users actually use - probably though getting third party developers most engaged - could they leave the others in their dust?
Exactly. Betamax is a great example of superior tech vs. third parties.
Also see: Incentive
So interesting.
This is incredible!
Interesting stuff! The video at the end is a great watch: "For any mass manufactured object the winner is usually the one that is just good enough". So we may well end up with the minimum acceptable quality rather than the better tech.
Bureaucracies / Governements are inefficient, but there is also a social need for them to cater for inefficient markets, providing services that would make no sense for private companies in a free market. Maximising profits for a private company is a much simpler goal than the cost / benefit considerations required of Government. The former is largely mathematical in nature, the latter often ethical.
I'm inspired!
You've got serious skills.
I believe that in launch, marketing makes all the difference.
And people usually buy consoles because of the exclusive ones.
You've done your homework.
Yes, marketing is a big factor. In consoles, especially back then, it seems like all marketing had to do was highlight "64-bit is better than 32-bit."
Well crafted.
You're a superstar!