PARADIGM SHIFTS AND THE WINNER'S CURSE

Summary from the TLDR newsletter

The two most important companies of the last two decades of tech were Apple and Amazon, specifically AWS. Apple created the smartphone paradigm with the iPhone, and AWS' cloud platform enabled a universe of applications that ran everywhere. Microsoft and Nokia failed in the smartphone era because they both deluded themselves into thinking that their previous domination was an advantage. AI is a paradigm shift, just like mobile was. While the winners of the previous paradigm are not automatically fundamentally handicapped because of their previous successes, they need to be careful about making the wrong choices for years before it's too late.