Larissa MacFarquhar, in a 2012 New Yorker profile of Clayton Christensen:
In industry after industry, Christensen discovered, the new technologies that had brought the big, established companies to their knees weren’t better or more advanced – they were actually worse. The new products were low-end, dumb, shoddy, and in almost every way inferior. The customers of the big, established companies had no interest in them – why should they? They already had something better. But the new products were usually cheaper and easier to use, and so people or companies who were not rich or sophisticated enough for the old ones started buying the new ones, and there were so many more of the regular people than there were of the rich, sophisticated people that the companies making the new products prospered.
Very important thinking and one very viable way to attack an existing market, one I’m exploring right now.
via Ben Thompson