-To analogize, think of the iPhone in 08. To see the opportunity, you had to imagine 1) that weaknesses get mitigated (it gets faster, service gets better), and 2) entrepreneurs will take new features (like GPS) and create new ideas with them

In yesterday’s Daily Update I described how Jeffrey Katzenberg, the founder of Quibi, mistakenly assumed that mobile was simply the next step in the evolution from motion pictures to television, each of which created new possibilities for, in Katzenberg’s words, “the creativity of storytellers [to use] these tools in ways that their inventors had n... See more