The common pattern for creating a company is innovation. But we need to follow a different pattern in emergent markets - we need to follow the friction
Yes. We are saying the same thing. Friction is generally bad but also signposts opportunity. If intentionally designed for the users benefit that’s also good. Either way, intentionality around friction is good. Thanks for reading.
I think friction is a double-edged sword. The very thing preventing something from happening can also open the path to innovation. I used to see Piggyvest as a startup that made saving easier, but the real value it provides is creating friction around spending, and that benefit compounds better than the benefits of making faster payments. They and other investment companies like Bamboo and Risevest are what I call "Anti-Commerce" startups. Their value lies in preventing you from wasting money by making it harder to do so, while rewarding you for the friction they have caused. Friction in this case is a benefit. I don't know if this line of thought makes sense.
"Innovation asks: what can we create? Friction asks: what is making this unnecessarily hard, and how do we make it stop? One is an invention question. The other is a painkiller question. In markets where people are already in pain, the order matters."
This spurred an aha moment while reading. Thank you for writing.
Yes. We are saying the same thing. Friction is generally bad but also signposts opportunity. If intentionally designed for the users benefit that’s also good. Either way, intentionality around friction is good. Thanks for reading.
Really good reflection here
I think friction is a double-edged sword. The very thing preventing something from happening can also open the path to innovation. I used to see Piggyvest as a startup that made saving easier, but the real value it provides is creating friction around spending, and that benefit compounds better than the benefits of making faster payments. They and other investment companies like Bamboo and Risevest are what I call "Anti-Commerce" startups. Their value lies in preventing you from wasting money by making it harder to do so, while rewarding you for the friction they have caused. Friction in this case is a benefit. I don't know if this line of thought makes sense.
"Innovation asks: what can we create? Friction asks: what is making this unnecessarily hard, and how do we make it stop? One is an invention question. The other is a painkiller question. In markets where people are already in pain, the order matters."
This spurred an aha moment while reading. Thank you for writing.