They taught us in economics that companies have to specialize and build core competencies. They need to do things really well, and be the best possible in the domains. But today, we think that does not make a lot of sense in the digital space.
For technology companies, everyone is doing everything, even at top-level. Alphabet, Google parent company, is a car company, a search company, a medical company, an advertising juggernaut, etc. Amazon.com is an e-commerce firm, a publisher, a movie producer, a drone maker, etc.
Today, Twitter is going after Skype, WhatsApp, etc even as Bluesky and others are coming after it: “Twitter CEO Elon Musk has announced new features that will allow users of the social media platform to make voice and video calls, marking a new entrant in the chat and instant messaging business.”
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Elon Musk is playing offense, making it clear that he would not stay here frozen for his blue bird to be attacked and eaten alive. This is the new age: offense is the best defense and no company is safe. Meta (parent of WhatsApp and Facebook) will now have to update a line in its competition sheet, with a new company named Twitter!
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Comment 1: In the tech industry, fierce competition is ubiquitous, and companies are always on the lookout for ways to distinguish themselves. As a result, new entrants are constantly disrupting the market, prompting established players to elevate their game and bring fresh ideas to the table. This perpetual cycle of innovation and adaptation ultimately culminates in users having the final say on which companies emerge victorious.
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