Great idea for a quick cash grab but then you will lose growth. You will run into insta pot problems where the product was too good and lacked room for innovation. But someone should do it anyways.
I would be totally cool with running a business like that. I don’t need to be making more and more every year if I have enough money to be comfortable, and I’d feel way better if I was in charge of a company making products that respect their user.
The unfortunate truth of modern business is that if you’re not growing, you’re on the path to failure. If we weren’t societally so fixated on profits, I could see lots of companies making “forever” products, but this sadly isn’t the case.
Maybe treat it like a business instead of a “quick cash grab” like instapot did? They should have used those early profits to diversify into other product areas. When demand for home cooking equipment predictably fell after COVID, they weren’t prepared.
it just shrinks to a fairly stable demand. Until something new happened then demand will track up. Or you can (honestly) update to a new model if you figure out some new improvement then also increase in demand.
Just plan for it.
I hate the mentality that infinite and perpetual growth is some how a sustainable or even rational goal
Good news! I definitely thought of that before my comment. That is one of my all time favourites.
I even referenced that comic Friday night when my friends were drunk and in an argument with each other because they were both being insecure and idiots to each other. I’m their relationship counselor apparently. I don’t know how I got the job and I’m not qualified…
The jokes on them! I buy one for every friend who somehow doesn’t already have one. I also manage to kill one about every two years. My lifestyle is very challenging to technology.
No, but investors tend to treat companies as either growing or dying. If you have a boring and reliable product you’re going to saturate the market at some point, which means that revenue will fall. Arguably there’s still a lot of value in sticking around selling replacements as people break things, but this is nowhere near as lucrative as the growth phase.
A government should do it, then share the designs so that repair shops can do their jobs better. People should be employed by repair shops, not that much in factories that produce disposable crap. After spreading the product to the population, the factories should slow down and produce repair parts, while the workers move to the repair shops.
Great idea for a quick cash grab but then you will lose growth. You will run into insta pot problems where the product was too good and lacked room for innovation. But someone should do it anyways.
Imagine making a billion dollars off putting a device in everyone’s home and thinking that’s not enough
That’s what pisses me off about Hollywood. That movie made 12million dollars. What a colossal failure that was.
It is when it cost $20 million to produce.
I would be totally cool with running a business like that. I don’t need to be making more and more every year if I have enough money to be comfortable, and I’d feel way better if I was in charge of a company making products that respect their user.
So what are you doing with your employees when your company is done selling products to users? Just lay everyone off?
The unfortunate truth of modern business is that if you’re not growing, you’re on the path to failure. If we weren’t societally so fixated on profits, I could see lots of companies making “forever” products, but this sadly isn’t the case.
Maybe treat it like a business instead of a “quick cash grab” like instapot did? They should have used those early profits to diversify into other product areas. When demand for home cooking equipment predictably fell after COVID, they weren’t prepared.
Is instant pot losing money on their product? I just got one last month and it’s been amazing for making meat tender and making bone broth.
That’s their problem: their product is very good and very reliable, which means once everyone who wants one has one, there’s no more demand.
People are born everyday. People break things.
There’s no such thing as no more demand.
it just shrinks to a fairly stable demand. Until something new happened then demand will track up. Or you can (honestly) update to a new model if you figure out some new improvement then also increase in demand.
Just plan for it.
I hate the mentality that infinite and perpetual growth is some how a sustainable or even rational goal
yeah reminds me of this meme:
Good news! I definitely thought of that before my comment. That is one of my all time favourites.
I even referenced that comic Friday night when my friends were drunk and in an argument with each other because they were both being insecure and idiots to each other. I’m their relationship counselor apparently. I don’t know how I got the job and I’m not qualified…
The jokes on them! I buy one for every friend who somehow doesn’t already have one. I also manage to kill one about every two years. My lifestyle is very challenging to technology.
No, but investors tend to treat companies as either growing or dying. If you have a boring and reliable product you’re going to saturate the market at some point, which means that revenue will fall. Arguably there’s still a lot of value in sticking around selling replacements as people break things, but this is nowhere near as lucrative as the growth phase.
A government should do it, then share the designs so that repair shops can do their jobs better. People should be employed by repair shops, not that much in factories that produce disposable crap. After spreading the product to the population, the factories should slow down and produce repair parts, while the workers move to the repair shops.