@gagandt From my point of view, blockchain is still a breakthrough technology for networking and security. But the products built on blockchain at this time do not have "much" impact on society. Most are gambling apps or financial apps. But in the next 5 to 10 years, I bet it brings a lot of computing power to the digital era.
Following up on my comment, An ideal blockchain should be decentralised, secure and and scalable.
And we're yet to see something that facilitates all three.
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Despite its revolutionary approach to social media, Google+ was a promising idea that failed due to poor implementation, a complex user interface, and a failure to differentiate itself substantially from existing platforms like Facebook and Twitter, thus demonstrating that even a brilliant idea needs strategic execution to be successful
google reader. It failed because it took away revenue from googles cash cow 🐮💸. The ad business. So google nixed it 😂 people still want it to come back. 10-15 years later 😅
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@sentry_co Agree! Google Reader was a masterpiece! They could easily show ads somewhere instead of ruining it.
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Online delivery of medicines in India.
The problem was buying medicines is a hyperlocal business in India where people usually trust their nearby pharmacy much more than an e-commerce conglomerate.
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@kaustumbh7 So interesting -- I wonder if this will change with time?
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@londonothecity Not sure about that. But one thing I see can help build towards this is, winning the trust of customers rather than burning VC money to offer deep discounts.
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I have seen a couple of brilliant ideas with good execution fail because the market wasn't ready for them yet. They also failed to create a market for them
Prismatic was the best new aggregator that I have ever used. They tried to monetize it in a really weird way from what I remember and ultimately shut it down. The founder ended up going and working at Facebook afterward.
I know it has been 10 years since being killed, but I'm still salty about Google Reader. The Verge recently wrote an article about why it happened: https://www.theverge.com/2377825...
'm not entirely certain if we should label it as a 'failure,' but I believe Clubhouse significantly declined after Twitter introduced 'Twitter Spaces.' The initial hype and FOMO surrounding the product were strong. Similar parallels can be drawn with Orkut, where Facebook emerged and Orkut eventually vanished.
Evernote Food is an embodiment of the term "Good product, wrong market". It was launched by Evernote and gained momentum, the product idea is fresh and innovative too but it completely goes against the product market fit of the mother company - Evernote. Can read it more here: https://nira.com/evernote-food/
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