great insight worth sharing
and glad i finally have a clear resolution for this conflicting idea! thank you @ShaanVP
another parallel idea is govts/institutions drown in bureaucracy lean on systems and processes too much - they should zoom out and focus on outcome.
This was such a good listen! Thanks a lot @ShaanVP for asking interesting questions and @MohnishPabrai for always coming on to educate and guide the community! Great start to the long weekend!
round 3 with Mohnish Pabrai is live
we talked mental models, Buffett, Berkshire, AI, and why most smart investors stay poor
(if you liked the first 2 rounds, you'll love this one)
.@chadjanis sold Gruns to Unilever for $1.2B, and here's exactly what he did differently:
He tried a new format.
Or in his words:
"A good product doesn't mean making a better version of something that exists. A good product equals new white space."
The examples you can't deny:
- Zyn: Nicotine pouches. New format, no competitors. Now massive.
- Whip/Ultra: Took Zyn's format, swapped nicotine for caffeine. New category created.
- Mary Ruth Organics: Liquid vitamins instead of pills. Big business.
- Daily Dose: Liver health in shot glasses instead of capsules. Different format.
Chad's warning:
"You might find a little success copying someone, but you're not gonna sell your business. You're not gonna be the winner."
The truth: Better ingredients don't win. New formats do.
Stop trying to make a better protein bar.
Find a format nobody's doing yet.
Full episode: https://t.co/2UBnETTUFG
@thesamparr@ShaanVP