"The Shakespearean model holds true today. Consider the Square card reader. Square was the first company to do mobile handset credit card processing right. It did the software piece and the hardware piece, and built a brand with the iconic white square device.
Then there was a proliferation of copycat readers. PayPal launched one. They shaped it like a triangle. They basically copied the idea of a simple geometric-shaped reader. But they tried to one-up Square; 3 sides, after all, was simpler than 4.
Before PayPal’s PR people could celebrate their victory, Intuit came out with a competing card reader. It was shaped like a cylinder. Then Kudos came out with its version, which it shaped like a semicircle. Maybe someone will release a trapezoid version soon. Maybe then they’ll run out of shapes.
How will this all end? Do you really want to get involved in making a new card reader at this point? One gets a distinct sense that the companies focused on copycat readers are in a great deal of trouble. Much better to be the original card reader and stay focused on original problems, or an original company in another space entirely." - Peter Thiel, http://blakemasters.com/post/23250566538/peter-thiels-cs183-...
One gets a distinct sense that the companies focused on copycat readers are in a great deal of trouble. Much better to be the original card reader and stay focused on original problems
...I don't see why? PayPal is/was far bigger than Square. If the hardware is easy to duplicate, I'd rather be the larger company with an established presence.
This arguement only makes sense if Shakespeare became wealthy, especially in porportion to his fame. Seeing as we know so little about the man, its impossible to say.
Its easy to be a household name and flat broke. Ask all the washed up movie and rockstars about that. There is of course an amusing "rageingly out of control costs" paralell to startups there.
An additional irony is the claims that Shakespeare was a plagurist...
>How will this all end? Do you really want to get involved in making a new card reader at this point? One gets a distinct sense that the companies focused on copycat readers are in a great deal of trouble. Much better to be the original card reader and stay focused on original problems, or an original company in another space entirely." - Peter Thiel
tell that to MS of 198x-199x and actually of 21st century too...
Then there was a proliferation of copycat readers. PayPal launched one. They shaped it like a triangle. They basically copied the idea of a simple geometric-shaped reader. But they tried to one-up Square; 3 sides, after all, was simpler than 4.
Before PayPal’s PR people could celebrate their victory, Intuit came out with a competing card reader. It was shaped like a cylinder. Then Kudos came out with its version, which it shaped like a semicircle. Maybe someone will release a trapezoid version soon. Maybe then they’ll run out of shapes.
How will this all end? Do you really want to get involved in making a new card reader at this point? One gets a distinct sense that the companies focused on copycat readers are in a great deal of trouble. Much better to be the original card reader and stay focused on original problems, or an original company in another space entirely." - Peter Thiel, http://blakemasters.com/post/23250566538/peter-thiels-cs183-...