We live in a time when a lot of people are obsessed with the idea of 2scaling”. They have seen in the media that one can make a huge amount of money by creating widely used digital platforms. And so, naturally, they focus on trying to build widely used digital platforms.
There is nothing inherently wrong with this. And yet … we know that most of these folks will fail. In this sense, our era is a bit like the California gold rush era. Jeff Bezos talks about this in a TED talk
Jeff brings out that during the California gold rush huge numbers of people gave up their jobs and livelihoods in order to go to California to find gold. Most didn’t find any, but they stayed in California and fundamentally changed the region and America.
The folks who are trying to build scalable digital platforms are also giving up opportunities to do other stuff. That other stuff is to see and build value more locally. At the end of the day, I suspect that this will dawn on some of these folks and they will shift their focus.