An important aspect of understanding your business ecosystem is knowing your position within it (positioning), whether you hold a higher or lower (subordinate) role, and whether your offerings are substitutes or complements. Netflix started as a DVD rental service. With the rise of online streaming, Netflix saw it as a replacement for DVD rentals. Kimbap and Ramen are complementary goods, but Ramen and Udon are substitutes. This is why, even when setting up a snack bar, paying attention to the menu is crucial. Complementary goods increase sales, while substitutes are more likely to lead to no change or even a decline in sales. - Joseph’s “just my thoughts”
People say content is money. That may be true, but money itself is also a type of content. Money is a way to exchange value or build wealth , but it also carries humanity’s stories . We cry and laugh because of money. Money reflects the rise and fall of empires or nations, hiding great stories inside it. Most top YouTube channels focus on content about money and wealth. We often hallucinate money with content . However, we don’t realize that money itself is an ingredient of content . - Joseph’s “just my thoughts”