What would this industry look like if it were rebuilt from scratch using technology we have today?
The recreate the whole product experience. The obvious example is the current disruption of the taxi industry, the least-customer-centered industry I’ve experienced in Australia (and evidently, AU is not alone).
The benefits of this kind of startup according to a16z:
- sometimes rebuilding is the only way to overcome cultural resistance in the industry (and bypass the incumbents while they the focus on trying to ban you)
- it’s possible to obtain a greater portion of the economic benefit created by controlling more of it
- it’s possible to deliver a much better overall experience to customers
The main challenge being that the startup has to care about every aspect of their product/service, which few can do.
Other examples where technology startups are attacking slices of an industry without going full stack yet:
- the multitude of apps that assist the restaurant/hospo industry (eg. discovery, ordering, delivery). What if paddock-to-plate was rebuilt from scratch? It’s not that I see specific problems, but wonder what assumptions haven’t been tested recently.
- medical apps / GPs. I hate going to the GP, sitting in waiting rooms with long delays around sick people. Someone rebuild this, please.
- car rentals (self drive). Just booked one. Really feels like I’m being ripped off, especially at the airport, and exposed to overcomplicated insurance options. I don’t want an app to compare prices. I want someone to take on Avis and Hertz and rebuild the industry.