The Failed Generation of Disruptors
There are other companies that have come along and been successful in a similar vein. Think about Netflix, Spotify, Youtube in entertainment, but many companies have failed or not become a global phenomenon like the mag 7. Money is a common example. There have been dozens of companies trying to be neo bank, payment apps, but none have cracked the code on how to be a respected. Square and Cash App wasn't ran well enough nor is it's brand as trusted or respected as a bank would be. Paypal and venom have been successful as payment transfer and checkout apps similar to Cash APP, but again the costs and difficulty of creating a trusted brand have proven too difficult. We are now still stuck that everybody's primary bank is still capital one, ally, or chase. The same thing is the case in real estate, health, and other expensive consumer economies. The starts haven't aligned for the creation of these businesses to work and for the business models to be profitable. Some companies have been able to make dents or pivot to more secondary businesses successfully, but still many parts of the economy we are stuck with older incumbents. Over the last couple decades, the internet infrastructure has become easier and deflated the costs of a software SAAS companies.