Last Updated: Apr 8th 2022
What is the “now” page? Here is a detailed description of the now philosophy.
November: San Francisco
Field Complete(the startup I am currently working on) is a SAAS for a small business; however, the financial layer is one of our main monetization avenues. We essentially become the bank for home service contractors over time.
It is fascinating to see how the financial infrastructure has evolved in the U.S. and how we have fallen behind in technological adoption compared to some developing countries.
An early adopter curse; over-investing into an early technology makes it much harder to pivot and adopt a more advantageous one.
A prime example of this is copper landlines; the U.S. invested billions of dollars into this technology and passed a key milestone in 1998 when there was one telephone for every man, woman, and child in the U.S. Telephone companies had to recoup their investment and price up the cost per minute to a point where the government had to intervene and break up the monopolies.
VOIP and cellular technology pulled the rug from underneath these companies; however, if you look at developing countries, their mobile phone adoption came at a much faster rate. Many developing countries have more coverage and faster internet speeds at significantly lower costs because they never overcommitted to the landline.