New companies are started every day. Some are moonshots with brand new ideas trying to change the world. Some are natural extensions of their founders’ industry experience, having identified a clear opportunity to meet a market need. Some are essentially copycats of other businesses, maybe with a slight tweak but essentially just duplicating what is already out there and trying to do it better, cheaper, faster or just differently.
But there’s another type of company springing up much more often in the last decade. These companies haven’t identified a brand new market or created a new solution from the ground up; instead these companies are building on top of an existing platform and offering a piece of functionality or integration that doesn’t yet exist. And it is the “yet” portion of that sentence that should be troubling anyone who has started, works for or is thinking of starting a company looking to offer this type of add-on functionality as its core offering.
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