I recently saw a documentary about General Magic, a Silicon Valley start-up that invented smartphones... in 1994. They had heaps of talent and money, and a great prototype. But they failed spectacularly, for a lot of reasons.
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One was that the device would have cost around $800 to own. Whoops. Years later, Apple came up with the affordable iPod, and then the iPhone, step by step.
It's a useful lesson: You need a vision, and big is good, but you also have to think about the small steps that will get you there. This is fun: Can you think of other spectacular failures in the tech industry? What are the lesson?