media giants felt ironclad in the 2000s, w/ full control of their business. assumption was as things changed, they'd be first to adjust & take advantage. they were wrong, & their business was unbundled. it's happening again.

when industries feel impenetrable, that's the alpha.

love this piece by @jaredhecht.eth that shares a similar sentiment:

@usv | jared.xyz | formerly founder of groupme and fundera 

media giants felt ironclad in the 2000s, w/ full control of their business. assumption was as things changed, they'd be first to adjust & take advantage. they were wrong, & their business was unbundled. it's happening again.

when industries feel impenetrable, that's the alpha.

love this piece by @jaredhecht.eth that shares a similar sentiment: https://blog.usv.com/curiosity-networks