Strategy – BuildMode

Justin.tv’s Failed Idea Is Now Twitch’s Biggest Category

Lifecasting won after all.

Rework sold 1M+ copies. Ruby on Rails powers 1.2M applications. Both were accidental.

Out of 300 tests developed, only 12 ever ran on their device. The rest ran on other companies’ machines in a back room.

$11 IPO. $0.19 at death. A sock puppet mascot. And Chewy later proved the whole idea actually works.

A broken laser pointer sold for $14.83 in 1995. The buyer said: “I’m a collector of broken laser pointers.” That’s when Omidyar knew this could work.

Lost 80% of revenue in 8 weeks. Called Jony Ive. Ripped out the divisions. Put the whole company on one roadmap.

Everyone said it was stupid. It became a $22B/year accessory business.