I recently saw the Schumpeter article entitled “Too much of a good thing” in The Economist magazine of 8th June 2013 (http://www.economist.com/news/business/21578990-leaders-need-learn-beware-their-strengths-too-much-good-thing). The extract I particularly like is:
Richard Branson has turned Virgin into a global brand by relentlessly exploiting his two biggest strengths: his ability to take on “big bad wolves” – firms that are overcharging and underserving the public – and his talent for infusing Virgin with a counter-cultural personality.
I like to think that we too are taking a “big bad wolf” on (we all know that I am talking about EBay), which is overcharging their customers – both individuals and businesses. Whether this wolf is bad or not, I’ll leave for others to say. But they are big, and they do overcharge their customers.
But hope is not lost; there are alternatives to EBay.
Here endeth today’s lesson.