Starting from scratch is liberating. It is also imperative for true innovation.
Indeed, instead of incrementally improving on what’s been done before, new entrants in many industries are taking a fresh look at the constraints that hold their customers back – and coming up with innovative ways to eliminate those constraints.
Taking Control of the Space Race
One of the most high profile examples of the start-from-scratch approach is Elon Musk’s SpaceX. In 2012, SpaceX became the first privately funded company contracted by NASA to deliver supplies to astronauts at the International Space Station. NASA has confirmed that SpaceX will take astronauts themselves there by 2017. SpaceX also launches satellites into space for companies the likes of ORBCOMM, Iridium, and Thales Alenia Space.
How did Musk’s company, which was founded in 2002, disrupt the space industry, whose players are mostly 100-year old companies and government institutions? By being efficient and keeping the prices low. By independent estimates, SpaceX charges half as much as its main competitor.
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