PDF Ebook Blitzscaling: The Lightning-Fast Path to Building Massively Valuable Companies
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Blitzscaling: The Lightning-Fast Path to Building Massively Valuable Companies
PDF Ebook Blitzscaling: The Lightning-Fast Path to Building Massively Valuable Companies
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Audible Audiobook
Listening Length: 9 hours and 3 minutes
Program Type: Audiobook
Version: Unabridged
Publisher: Random House Audio
Audible.com Release Date: October 9, 2018
Whispersync for Voice: Ready
Language: English, English
ASIN: B07DJYYG66
Amazon Best Sellers Rank:
This book is mostly about the positive aspects of blitzscaling, and while it acknowledges the risks, it doesn't go into much depth to analyze lessons learned from blitzscaling failures.Reading this book reminded me of my own personal experience consulting for the search engine company AltaVista in the late 1990s. Many considered AltaVista to be the best search engine before Google really hit the scene. The venture capital company CMGi bought AltaVista and embarked on a major blitzscaling effort. CMGi wanted to compete with Yahoo to create a web directory portal for just about everything and spread resources wide and thin, and then allowed the AltaVista core search technology to get rusty. This created an opening for Google to dominate AltaVista with perfectionist attention to detail in search technology. In this particular case, AltaVista was the one attempting the (failed) blitzscaling while Google followed more traditional product perfection strategies.The book also made me think about the articles I've been reading in the Wall Street Journal regarding Tesla and Elon Musk's current challenges blitzscaling across so many different business areas -- especially with Model 3 production and their solar roof tile delays. Now I understand better why Elon Musk doesn't seem to care that much about perfecting product roll-out execution ahead of time, instead always thinking about the next futuristic revolution and then figure out the implementation as-it-goes. Coincidentally Elon Musk was also one of the founders of PayPal along with the author of this book. The book doesn't talk much about Tesla, but I can see the common philosophy. I can see why blitzscaling contributed to Tesla's success (so far).I take away a better understanding of why some companies engage in blitzscaling hyper growth as their #1 priority, and why this is such a powerful technique to overwhelm the competition. This book reveals some really interesting techniques to grow the customer base, organizational strategies depending on the size of the company, and management styles. There is good depth in this book with specific examples that the author curates for a course at Stanford University.Since there are a relatively small number of company founders/executives who have the funds to engage in a massive blitzscaling operation, I think most copies of this book will end up in these hands: 1. stock traders (including the everyday investor) who are looking to identify companies that are executing hyper growth strategies for better investment returns, and 2. people who enjoy reading interesting Silicon Valley business cases for insight on how this mysterious world of venture capital encourages companies to risk it all-or-nothing and take off like a rocket ship.Overall I highly recommend this book to learn the benefits of blitzscaling. It's very interesting to read, it's sometimes hard to put the book down because there's something useful on every page. Just don't expect much depth about companies that attempted blitzscaling and failed while trying, this book is more about success business cases.
Given the author's experience, I was disappointed to find Blitzscaling little more than a beginners overview of the well-known patterns around modern fast-growth companies. If you've never heard of Network Effects, Moore's Law, or Viral Effects, then you will find this an enlightening book. It explains these concepts and others like them quite well, but there is not much here that's new or especially insightful. The best use for this book would be in a community college course titled "Basics of Software Company Growth."
I'd bet almost everyone senior in Silicon Valley has come across Reid in their career. He's an indispensable member of the ecosystem as investor, operator, mentor, and thought leader. This book shares his gathered wisdom on the scaling of hypergrowth organizations in a fast-changing present to win the future. Not only essential reading for startup execs, but also for general business folks who need to grapple w/the role of technology disrupting their business.
There are some excellent management insights regarding blitzscaling your organization touching critical areas such as management innovation, business model innovation, and hiring practices. However, the rest of the book is less practical. By that I mean the book includes general advice, higher level talk or unpractical arguments on important issues regarding blitzscaling such as social responsibility, addressing the competition which also can use blitzscaling, resource management etcetera. However, as mentioned above, these areas are touched on a high level and fail on giving practical examples of how these tips and tricks are used in reality. I am sure the authors will follow-up with a practical guide but until then I give it a 4 star.
Blitzscaling, The Lightning-Fast Path To Building Massively Valuable Companies, by Reid Hoffman and Chris Yeh, is a compelling read whose thesis states if a company has access to ample capital and the potential opportunity to capture most or all of a market, it should prioritize growth speed over efficiency, and accept, even ignore the inefficiencies and non-life-threatening fires that come along with it.Blitzscaling is a counterintuitive strategy that goes against many classic old-school business techniques as you need to accept operating inefficiencies and uncertainties in exchange for speed. “When a market is up for grabs, the risk isn’t inefficiency – the risk is playing it too safe. If you win, efficiency isn’t that important; if you lose, efficiency is completely irrelevant.â€The book discusses many of the most well-known, fastest growing and currently most valuable companies, including: Airbnb, Alibaba, Amazon, Apple, Dropbox, Facebook, Google, LinkedIn/Microsoft, Netflix, PayPal, Uber and others. A couple years ago when Uber was raising money at a $60 billion private valuation, it may have been difficult to understand the astronomical valuation, but Blitzscaling presents a solid argument for it. If Uber uses inexpensive capital to subsidize both sides of the market when it enters a new city, it has a substantially stronger likelihood of quickly capturing significant share. Uber has a chicken and egg scenario as both sides of the market need to be built simultaneously for Uber to be successful. Uber needs to recruiter drivers to ‘supply’ rides, needs to acquire customers (‘demand’ for rides). By utilizing economical capital to subsidize drivers (paying drivers a higher percentage or bonuses as additional incentives to join the platform) and subsidizing passengers (with cheaper rides to incentivize them to try the new platform), Uber achieves massive momentum from dual-sided network effects.The story of Airbnb is fascinating, and an area that can easily be overlooked is how customer-obsessed they were from the very beginning. “Paul Graham, the cofounder of Y Combinator, wrote a famous essay in which he advised entrepreneurs to do things that don’t scale.†This advice may seem counterintuitive (especially in a book about Blitzscaling), but it is vital to developing an optimal product. When your business is small you want to can into a customer’s complete experience to understand everything the customer thinks and desires. Airbnb realized that listings are more successful if they are accompanied by professional photographs, so founders Brian Chesky and Joe Gebbia, in the beginning knocked on customer’s doors to photograph their homes. Obviously, the founders could not personally scale to photograph all Airbnb listings, but it allowed them to truly get to know and understand their customers (listen to Brian Chesky’s fantastic talk on Reid Hoffman’s Master of Scale podcast titled Handcrafted. Their Obama O’s and Captain McCain’s were brilliant gorilla fundraises and the 11-star experience demonstrates their obsession with customer experience).Possibly the company to most successfully implement Blitzscaling (although the term did not exist at the time) is Amazon. Amazon’s substantial access to capital through inexpensive public funds as well as generated revenue allowed it to build out its massive infrastructure and best-in-class fulfillment systems. Throughout the years, Amazon was constantly criticized for not consistently showing ‘Wall Street profits’ while it utilized these inexpensive funds to subsidize its distribution and logistics expenses, as well as the fees it charged third-party sellers, to capture an astonishing portion of US online market sales. Currently about fifty cents of every new dollar online is spent on the Amazon platform. In addition, due to this market dominance, Amazon continually recaptures these earlier subsidized dollars by squeezing the margins of third party resellers (who, in aggregate, account for more sales on the Amazon platform than goods sold directly by Amazon). Ten years ago, third-party sellers paid less than 20% of aggregate sales in fees to Amazon. Whether third-party sellers knew it or not, Amazon was subsidizing their expenses to capture dominant market share of the massive overall online retail category. Every year Amazon raises fees to third-party sellers, squeezing their margins and redistributing it back to Amazon. Currently third party sellers pay 40% of aggregate sales in fees to Amazon, but this would not have been possible without the successful Blitzscaling done by Amazon years ago.If you like Blitzscaling, The Lightning-Fast Path To Building Massively Valuable Companies, I highly recommend checking out Reid Hoffman’s Masters of Scale podcast which I personally look forward to listening to every week. Blitzscaling is difficult to implement, and the likelihood of failure far exceeds success, however this risk is compensated for by the massive rewards that can be achieved from its success.
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