Each month, “Lochhead on Different” episodes explore the need to differentiate people, products, and services in a world that encourages a lot of imitation. Christopher Lochhead is a best-selling author, top podcaster, and former tech-industry CMO. Today, Christopher explains a new scorecard he and a friend created, and what it reveals about making competition obsolete.
The Big Themes:
- The business case for becoming a category creator in 2021: The “be different” category designers captured 51% of the revenue growth, and 80% of the market capitalization growth.
- Net worth of a typical White family is $171,000: Ten times greater than that of a Black family ($17,150). (Brookings)
- 10-second video clip just sold for $6.6M in Non-Fungible Tokens (NFTs): This selling of a piece of digital art has changed the future. A new category design could have profound implications.
- Netflix moves 2% of its cash to Black-owned banks. Twitter, Costco, others join in; Netflix moves $100M. Where do you bank?
The Big Quote: “They’re trying to move the world from one way to another way. They take big risks in doing it. They have to have a point of view.”
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Cloud Wars Live Digital All-Stars
Christopher Lochhead is one of our regular Digital All-Stars. The All-Stars are experts whose video podcasts will focus on the critical themes shaping (and re-shaping!) the business world here in the digital age of 2021. Our intention is to provide regular chunks of timely ideas and insights about high-priority subjects from industry veterans with diverse backgrounds.