3 The Success of Startups
OVER THE LAST TWENTY YEARS, startup companies have been major players when it comes to breakthrough innovation. Newborn businesses have appeared out of nowhere, upsetting industries, destroying venerable companies that had been around for decades, and creating industries that did not exist before. Amazon in retail distribution and Google in Internet search and many other services are two prominent examples of startups’ creative destruction. These companies, each now employing thousands, have excelled both at executing a winning business model and at creating and growing new markets.
It does seem counterintuitive that companies with limited resources—businesses that often rely on external funding from venture capitalists—can ...
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