Lenny Rachitsky: preference

Transcript context

…You're a very quick study my friend. I got some notes here. So, coming back to the how will we win? Because I think everyone's listening to this, okay, cool, we got two ways to win, we're going to be the cheapest or we're going to differentiate, okay. Okay, how do we differentiate? Is there a taxonomy of options that you think about or tell people, what are the ways and options for exploring, here's how we will be different? It is mainly understanding customers, as well as you can, and then saying, is there a way to be distinctive against that? And there are lots of ways to do it, but it's tied very closely to the capabilities, which is, if you have a way of winning, you say, my where to play is I'm going to sell pet food on the internet, and my how to win is I'm going to be the best. But it turns out that anybody who can build a website can sell pet food on the internet, and in fact, 20 of them do it almost immediately, and they all go bust. You don't have the capability, so you've got to ask yourself the question, can I serve a particular customer need with a set of capabilities that are going to be hard to replicate by my competitors? They either can't do it, or they won't do it. And both are important questions because sometimes it won't. Do you really think Walmart couldn't have built as good a website as Amazon, and at massive scale? I think they could have, right?…

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