Big companies know they can't be nimble and innovate

I was at a meeting on Thursday with one of the most senior executives of a significant US Bank. The purpose of the meeting was to introduce them to an early stage venture we are involved in, which we believed that might wish to take a stake in.

We were asked by one of the attendees why one of the big companies in the space wouldn't simply copy it and kill this venture. We acknowledged that it was always a possibility but I added "I'm in dangerous company saying this, but big companies are usually too busy to get round to doing sensible stuff. There are simply be too many other projects they have to get done before they would even assemble an evaluation team to consider it and fill in all the project paperwork."

The Senior Executive turned and smiled - "We certainly understand that problem".

James Hong has the same thought.

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posted by John Wilson @ 9:54 AM Permanent Link newsvine reddit



1 Comments:

At 11:54 AM, Anonymous George Black said...

I always suspected this, it is good to hear it echoed. Particularly as I use it in my business plan!

 

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