How Insta360 Crushed GoPro

Video Description

Download the CFO’s Guide to AI and Machine Learning at https://www.NetSuite.com/MODERNMBA Thank you to Insta360 for their openness in welcoming our inquiry, letting us spend time with the founders / team, and providing the access that made this coverage possible. Consumer electronics is one of the most competitive markets in the world with its unforgiving business model, heavy funding requirements, and endless disruption. It’s a fast-moving landscape where winners don’t stay on top long, new markets emerge as fast as they disappear, and disruption comes from all sides. But when you nail timing, hardware, and software - the impact is revolutionary. You can create a new market like Apple did with smartphones, Bose with noise cancellation headphones, HP with home printers, and Dell with direct-to-consumer PCs. Through the 2000s, point-and-shoot cameras were a booming category led by Japanese giants like Canon and Nikon—until smartphones. Cameras today have become every smartphone’s greatest selling point. By the mid-2010s, the notion that there could be a new, standalone camera company was unthinkable - until GoPro. But as we covered a year ago, GoPro is nearing extinction. As GoPro collapsed, analysts and experts around the world wrote off action cameras. It was a dying market - a niche that was so small that not even the company that created it could survive. Even if you create the market, you are not entitled to its future. But Insta360 has done the impossible in what many presumed to be a dead market. Today, they’re the youngest, most profitable, and fastest growing camera maker in the world, surpassing GoPro, Nikon, and Canon. In 10 years, Insta360 has grown from a dorm room idea into a $10B powerhouse as the category leader in 360 cameras. Insta360 in the past 5 years has built a powerful moat between smartphones and professional cameras, earning acclaim from WIRED, CES, New York Times, and Japan’s Good Design Award. Their cameras are sold at Apple Stores, Best Buys, and Costcos all around the world, endorsed by Internet stars like Casey Neistat, and support use-cases that extend far beyond extreme sports. In the past 40 years, there have only been 2 camera manufacturers to have IPO’d - and one of them is Insta360. While startups today chase headlines, Insta360 has stayed quietly product-first with soft-spoken founders who have done less than a handful of media appearances. They were not the first nor the most well-funded. How did they succeed where others failed? What did they bring to the table and how did they create opportunity when everyone else saw none? In this Modern MBA Original, we go boots on the ground to understand the rise of Insta360, how startups can topple giants, and how product can only be a moat with humility. ============================= Support Modern MBA - we're 100% independent, self-funded, and committed to making business education free to all. ============================= ☕ Tip: https://buymeacoffee.com/modernmba ☕ Patreon: https://patreon.com/modernmba 🤳🏻 TikTok: https://www.tiktok.com/@modernmba 🤳🏻 Instagram: https://www.instagram.com/modern.mba/ 🤳🏻 Reddit: https://www.reddit.com/r/modernmba/