creating information explosions
Throughout recent history, only a small number of technology platforms have led to “information explosions”. Information explosion here simply meaning a rapid increase in the amount of information/data available to people, and each time this has occurred, people have been able to expand the horizon of what they know and what’s possible.
In the last 30 years there have been a handful of products that have led to this phenomenon. These include the World Wide Web, Google & YouTube. Just these 3 platforms, although different, have led to an incredible amount of information being available to people like had never been possible before. I personally can’t imagine a world without either the World Wide Web, Google, or YouTube, as these platforms have become almost ubiquitous with modern life, as airplanes, or electricity, or roads. Think of all the students living in remote villages that have been able to get access to the same information other students from the best countries have access to, or the people learning to dance who now have their own personal dance instructor right there on YouTube, or a Biochemistry researcher who can use Google to search for what the new breakthrough in drug formulation is. These are just but a sliver of a sliver of what’s possible now thanks to these platforms that weren’t possible before.
So how does one create products that are long lasting and lead to “information explosion”. My thesis is as follows, ranked in order of importance:
The product must be first/one of the first in the space
It is virtually impossible to create a new Google or YouTube because it makes no sense either for users or content creators, as any new platform will always be playing catch-up, while the incumbents continue to increase the amount of data they have & can provide to their customers
Examples: Amazon, Wikipedia, Google, etc.
The product must have a lot of what it expects its users to come to it for
Following on from the first point. People simply aren’t going to use a video service that has no/very little videos, or a search engine that has only partially indexed the web, or an academic paper platform, with a little amount of important papers, or an e-commerce platform without the products wanted by customers, the list goes on. No content. No customers
Examples: Amazon, Wikipedia, YouTube, etc.
The product mush have network effects
No man is an island and no one has all the answers. You only get information explosion when the works of people can be easily accessed by others in the world, and the best way to accomplish this is through network effects. With this, the value of the network scales with the number of people that are using the product and are sharing what they know or can do with others.
Examples: Wikipedia, Google, Facebook, etc.
It must be extremely simple to use
One of the biggest advantages Google had over its competitors, was its simple design. Whilst other search engines at the time were thinking of how to cram as many ads as they could onto their home page, Google took the opposite approach which was to, effectively get out of the way and let their users search, and search they did. Whilst in modern times, companies have begun to focus more on their UI/UX, for those that haven’t its an extremely low hanging fruit for any budding start-up to claim.
Another reason for Google's success has been its timeless design. You can’t really get much simpler than a search box and submit button, and this allows it to be usable by people from any generation, because its as simple as you could possibly get.
Examples: Google, Amazon
Users must be able to perform the main loop in 3 or less actions
3 actions is more of an anecdotal amount, but the fact is that with most hyper large platforms (Google, YouTube, Facebook, etc) you can probably perform their main loop in 3 or less actions. First you Search, Then you press enter, Then you find what you’re looking for and click it, and you’re done.
Examples: Google, Amazon, YouTube
The product should have a clear and compelling value proposition
Users need to understand what the product offers and why they should use it. A clear and compelling value proposition helps to communicate this message effectively. For example, Google's value proposition is "to organize the world's information and make it universally accessible and useful." This simple statement clearly communicates what the product does and why it's valuable to users.
Example: Google, Amazon, Facebook
The product should be adaptable to changing user needs and preferences
Users are what enable information explosions, and so products will have to adapt to the ever changing needs and wants of their customers to allow them to continue using the product. For example, YouTube has evolved from a simple video-sharing platform to a complex social network with features such as live streaming, community tab, and stories. By adapting to changing user needs, YouTube has been able to retain its position as the leading video platforms.
The product should have a sustainable business model
A sustainable business model is essential for the long-term success of a technology platform. The business model should allow the company to generate revenue while also providing value to users. For example, Google generates revenue through advertising, while Amazon generates revenue through e-commerce and cloud computing services.
Whilst I’m sure there could probably be more additions into this list, those included serve as absolute essentials needed to produce a “information explosion”. Without even one of these you give room for the incumbent - if there is one - to rectify their mistakes, and eat up the remaining market share or if it is a new space, allow a competitor, out execute your team.