Photo: Bloomberg Television
Marc Andreessen sits on the eBay board of directors and, after a recent meeting, he took a few minutes to speak to the top technical leaders from the company.His speech was basically a pep talk and it had a clear message: The reason eBay tanked in the middle of the last decade – getting run over by Amazon and Google in the process – was that there is a “success hangover” at eBay.
Basically, eBay’s auction-based e-commerce model was such a fast and early winner on the Internet that the company had little incentive, and therefore energy, to pursue innovations like recommendations or search.
The lesson for the rest of us: Don’t get so drunk on your current success that you become blind to future opportunities.
Business Insider Emails & Alerts
Site highlights each day to your inbox.