Lean Startup Examples: How to Learn from the Success and Failure Stories of Lean Startups

1. Understanding the Lean Startup Methodology

In this section, we delve into the core principles and concepts of the Lean Startup methodology. The lean Startup approach, popularized by Eric Ries, emphasizes iterative development, validated learning, and rapid experimentation to build successful startups.

1. Customer-Centric Approach: At the heart of the Lean Startup methodology is a deep focus on understanding and satisfying customer needs. By adopting a customer-centric approach, startups can identify pain points, gather feedback, and iterate their products or services accordingly.

2. Minimum Viable Product (MVP): The concept of the Minimum Viable product is central to the lean Startup methodology. An MVP is a basic version of a product that allows startups to test their assumptions, gather user feedback, and validate their business model. By releasing an MVP early on, startups can avoid wasting resources on building a fully-featured product that may not meet customer needs.

3. build-Measure-Learn Feedback loop: The build-Measure-Learn feedback loop is a fundamental aspect of the Lean Startup methodology.

2. Airbnb - Revolutionizing the Hospitality Industry

### Airbnb: revolutionizing the Hospitality industry

Airbnb was founded in 2008 by Brian Chesky, Joe Gebbia, and Nathan Blecharczyk. The idea emerged when the founders faced financial challenges and decided to rent out their San Francisco apartment to attendees of a design conference. This simple act of sharing space with strangers laid the foundation for what would become a disruptive force in the travel and accommodation sector.

#### 1. The lean Startup mindset

Airbnb embraced the principles of the lean startup methodology, championed by Eric Ries. Here's how they applied these principles:

- Minimum Viable Product (MVP): Instead of building an elaborate platform, Airbnb started with a basic website that allowed hosts to list their spaces and travelers to find accommodations. This MVP allowed them to test their assumptions and iterate based on user feedback.

- Pivot and Persevere: Initially, Airbnb focused on providing air mattresses in people's homes during conferences. However, they quickly realized that travelers sought more diverse options. They pivoted to include entire homes, apartments, and unique stays like treehouses and houseboats.

- Continuous Experimentation: Airbnb constantly experimented with pricing models, user interfaces, and marketing strategies. They learned from failures and adjusted their approach accordingly.

#### 2. building Trust and community

- user-Generated content: Airbnb encouraged hosts to create detailed profiles and share high-quality photos of their spaces. This transparency built trust among users.

- Reviews and Ratings: The review system allowed guests to provide feedback, ensuring accountability and improving the overall experience.

- Host Guarantee: Airbnb introduced a host guarantee program to protect hosts against property damage. This reassured hosts and encouraged more people to participate.

#### 3. Scaling Globally

- Localization: Airbnb customized its platform for different markets, considering cultural nuances and local regulations. For example, in Japan, they partnered with local hosts to offer traditional ryokans.

- Storytelling: Airbnb's marketing campaigns focused on storytelling. Their "Belong Anywhere" campaign emphasized the idea of connecting with local communities.

- Partnerships: Airbnb collaborated with travel agencies, event organizers, and influencers to expand its reach.

#### 4. Challenges and Adaptations

- Regulatory Battles: Airbnb faced legal challenges in various cities due to zoning laws and concerns about housing shortages. They adapted by working with policymakers and creating responsible hosting guidelines.

- Quality Control: As the platform grew, maintaining consistent quality became crucial. Airbnb introduced Superhosts and verified listings to address this.

#### 5. Impact and Legacy

- Economic Empowerment: Airbnb empowered hosts to earn income from their spare spaces, supporting local economies.

- Traveler Experience: Airbnb transformed travel by offering unique, personalized stays beyond traditional hotels.

- Disruption: The hotel industry had to adapt to Airbnb's disruptive model, leading to innovations like boutique hotels and experiential stays.

In summary, Airbnb's lean startup journey demonstrates the power of agility, community, and user-centric design. By challenging conventions and fostering connections, they forever changed how we experience travel and hospitality.

Remember, every startup can learn from Airbnb's story: Start small, listen to users, and adapt relentlessly.

3. Juicero - Lessons Learned from a Costly Mistake

In the ever-evolving landscape of startups, there are tales of triumph and heartbreak. One such cautionary tale is that of Juicero, a company that promised to revolutionize the way we consume fresh juice. Founded in 2013 by Doug Evans, Juicero aimed to create a sleek, high-tech juicing machine that would deliver cold-pressed juice at the touch of a button. The company raised a staggering $120 million in funding, with investors including Google Ventures, Kleiner Perkins, and Campbell Soup Company.

The Hype and the Machine

At first glance, Juicero seemed like a game-changer. The machine was beautifully designed, with a minimalist aesthetic that appealed to health-conscious consumers. Users would purchase pre-packaged juice pouches, insert them into the machine, and voilà—a glass of fresh juice would be dispensed. No mess, no fuss, and no need to clean a bulky juicer.

The Downfall

However, the reality was far from the dream. Here's where the story takes a sour turn:

1. Overengineering: Juicero's downfall began with its overengineered machine. The device was equipped with Wi-Fi connectivity, a barcode scanner, and a complex hydraulic press system. All this technology came at a hefty price—$699 for the machine itself. Consumers wondered why they needed a Wi-Fi-enabled juicer when a simple handheld juicer could do the job just as well.

2. Juice Pack Price: The pre-packaged juice pouches were equally problematic. Each pouch cost around $5 to $8, making them significantly more expensive than buying fresh produce and juicing it at home. Consumers quickly realized that they could achieve the same results by squeezing the pouches with their bare hands, rendering the expensive machine unnecessary.

3. Transparency Issues: Investigative journalists discovered that the Juicero machine wasn't even necessary for extracting juice from the pouches. They conducted a test by manually squeezing the pouches, and lo and behold—the juice flowed freely. The barcode scanner, which was supposed to ensure freshness and quality, turned out to be little more than a gimmick.

4. Public Backlash: The revelation sparked public outrage. social media was flooded with memes mocking the Juicero machine, and the company became a symbol of Silicon Valley excess. Investors were left scratching their heads, wondering how they had poured millions into a venture that was essentially selling overpriced juice bags.

Lessons Learned

The Juicero debacle offers several valuable lessons for aspiring entrepreneurs:

1. Simplicity Matters: Fancy features and unnecessary complexity can backfire. Focus on solving a real problem in the simplest way possible.

2. Know Your Market: Understand your target audience's needs and preferences. Juicero failed to recognize that most consumers were content with traditional juicers or even manual methods.

3. transparency Builds trust: Be honest with your customers. If your product isn't essential, don't oversell it. Transparency builds trust, while deception erodes it.

4. Cost-Effectiveness: Pricing matters. Even the most innovative product won't succeed if it's priced out of reach for the average consumer.

In the end, Juicero became a cautionary tale—a reminder that even with millions in funding and a brilliant idea, success is never guaranteed. As entrepreneurs, we must learn from such failures and strive to create products that truly add value to people's lives.

*Remember, the road to success is often paved with the lessons learned from failure.

4. Slack - Transforming Team Communication

Slack: Transforming Team Communication

Slack, founded in 2013 by Stewart Butterfield, Eric Costello, Cal Henderson, and Serguei Mourachov, began as an internal tool for their gaming company, Tiny Speck. The initial goal was to streamline communication among team members working on the game "Glitch". Little did they know that this humble tool would soon become a global phenomenon, transforming the way teams communicate across industries.

Insights from Different Perspectives:

1. User-Centric Design:

- Slack's success lies in its relentless focus on user experience. The founders understood that communication tools should be intuitive, efficient, and enjoyable to use.

- They prioritized features like threaded conversations, customizable channels, and integrations with other tools. This user-centric approach set Slack apart from traditional email and chat platforms.

2. Virality and Word of Mouth:

- Slack spread virally within organizations. A single team adopting it would recommend it to other teams, creating a network effect.

- The "freemium" model allowed teams to try Slack without upfront costs, further encouraging adoption. As more users joined, the value of the platform increased exponentially.

3. Integration Ecosystem:

- Slack's open API and extensive app directory allowed third-party developers to build integrations. From project management tools to cat GIFs, everything could be seamlessly integrated.

- This ecosystem transformed Slack from a mere chat app into a central hub for work, connecting tools like Jira, Trello, Google Drive, and more.

4. Cultural Shift:

- Slack challenged the traditional hierarchy of communication. CEOs and interns alike could participate in discussions, fostering transparency and collaboration.

- The shift from email to real-time chat reduced response times, enabling faster decision-making.

In-Depth Insights:

1. Channels and Threads:

- Slack's channel-based organization allows teams to create focused spaces for discussions. For example:

- #marketing: Campaign planning, social media updates.

- #engineering: Bug fixes, feature requests.

- Threads within channels keep conversations organized, preventing clutter.

2. Integrations:

- Imagine a marketing team discussing a new campaign. Slack integrates seamlessly with tools like:

- Asana: Assign tasks directly from Slack.

- Google Drive: Share documents effortlessly.

- Salesforce: Get real-time updates on leads.

- These integrations enhance productivity and reduce context switching.

3. Customization:

- Slack allows users to customize notifications, themes, and emojis. Teams can create custom bots for specific tasks.

- Example: The "Standup Bot" prompts team members daily for updates, streamlining status reporting.

4. Search and Archiving:

- Slack's powerful search feature ensures that no conversation gets lost. Teams can retrieve old messages easily.

- Compliance features allow organizations to retain records for legal purposes.

Examples:

1. Zendesk's Efficiency Boost:

- Customer support teams at Zendesk reduced response times by using Slack. Integrations with Zendesk tickets allowed agents to address queries promptly.

- The result? Happier customers and more efficient workflows.

2. NASA's Mars Rover Team:

- The Mars rover team used Slack to coordinate across different time zones. Scientists, engineers, and mission control collaborated seamlessly.

- Slack's real-time communication was crucial during critical moments, like landing the rover on Mars.

In summary, Slack's success story teaches us the importance of user-centric design, virality, integrations, and cultural shifts. As startups and established companies alike adopt lean principles, they can learn from Slack's journey and create tools that empower teams to communicate effectively and achieve remarkable results.

*(Note: The above content is and creativity. For accurate and up-to-date information, please refer to official sources.

5. Quibi - Analyzing the Downfall of a Promising Streaming Platform

In the fast-paced world of technology and entertainment, Quibi emerged as a bold experiment. Founded by industry veterans Jeffrey Katzenberg and Meg Whitman, Quibi aimed to revolutionize mobile streaming by offering high-quality, short-form content designed specifically for on-the-go consumption. The name itself was a portmanteau of "quick bites," emphasizing the bite-sized nature of its content.

Insights from Different Perspectives:

1. The Visionary Perspective:

- Jeffrey Katzenberg, the former Disney executive and co-founder of DreamWorks, envisioned Quibi as a game-changer. He believed that people's fragmented attention spans could be harnessed to create a new form of entertainment. Quibi would bridge the gap between traditional TV and social media, delivering premium content in 10-minute episodes.

- Katzenberg's vision was backed by a massive $1.75 billion investment from Hollywood studios, tech giants, and venture capital firms. The hype was real, and Quibi launched in April 2020 with much fanfare.

2. The Execution Challenges:

- Quibi faced several execution challenges:

- Content: Despite roping in A-list celebrities like Chrissy Teigen, Idris Elba, and Anna Kendrick, Quibi struggled to create compelling content. The short-form format demanded high-quality storytelling, but not all shows delivered.

- Pricing Model: Quibi offered two subscription tiers: $4.99/month with ads and $7.99/month ad-free. However, consumers were hesitant to pay for yet another streaming service, especially during a pandemic.

- Mobile-Only: Quibi's mobile-only approach limited its reach. Unlike Netflix or Disney+, which catered to multiple devices, Quibi insisted on the smartphone experience. Unfortunately, people weren't clamoring for more screen time on their phones.

3. The Timing Issue:

- Quibi launched during the height of the COVID-19 pandemic. Ironically, the very situation that should have boosted its adoption—people stuck at home—worked against it. With more time on their hands, viewers turned to established streaming services, not a newcomer.

- Quibi's premise of "watch during your commute" lost relevance when commutes vanished overnight.

4. The Competition:

- Quibi entered a crowded market. Netflix, Amazon Prime Video, Hulu, and Disney+ dominated the streaming landscape. Even YouTube and TikTok provided free, snackable content.

- Quibi's attempt to carve out a niche was admirable, but it struggled to differentiate itself.

5. The Fatal Flaw:

- Quibi's downfall can be summarized in one word: ignorance. Ignorance of user behavior, preferences, and the evolving media landscape.

- The platform failed to recognize that people didn't want to watch premium content on their phones in short bursts. They wanted immersive experiences, binge-worthy shows, and escapism.

- Quibi's demise was swift. By October 2020, just six months after its launch, the company announced its shutdown.

Lessons Learned:

1. Know Your Audience: Understand your users' habits, preferences, and pain points. Quibi assumed people would adapt to its format, but it should have adapted to the users.

2. Adaptability Matters: Be willing to pivot. If circumstances change (hello, pandemic!), be flexible and adjust your strategy.

3. Competition Awareness: Study your competitors. What are they doing right? Where are they failing? learn from their successes and mistakes.

4. Quality Over Hype: No amount of celebrity endorsements can save a flawed product. Focus on delivering value.

5. Timing Is Everything: Launching at the wrong time can be fatal. Consider external factors and market dynamics.

Example: Imagine if Quibi had collaborated with popular YouTube creators to leverage their existing audiences. It could have bridged the gap between short-form content and established fan bases.

In the end, Quibi's downfall serves as a cautionary tale for startups: even with deep pockets and star power, success is never guaranteed. The streaming graveyard is littered with ambitious ventures that failed to resonate with viewers. Quibi's legacy will be a reminder to stay humble, listen to users, and adapt or perish.

*Remember, the road to innovation is paved with both success stories and spectacular failures.

6. Dropbox - Disrupting the Cloud Storage Market

Dropbox: Disrupting the Cloud Storage Market

In the early 2000s, cloud storage was still in its infancy. People were grappling with the limitations of physical storage devices, and the idea of storing files remotely seemed like science fiction. Enter Dropbox, founded by Drew Houston and Arash Ferdowsi in 2007. Their vision was simple yet powerful: to create a seamless way for users to store, sync, and share files across devices.

1. The Genesis: A Simple Idea with a Big Impact

- Insight: Houston, a computer science student at MIT, faced a common problem: he forgot his USB drive with important files. Frustrated, he envisioned a solution that would allow him to access his files from anywhere.

- Example: Imagine Houston sitting on a delayed flight, realizing he left his presentation on his home computer. He dreams of a folder that magically syncs across all devices.

2. The Lean Approach: Solving a Real Problem

- Insight: Dropbox adopted the lean startup methodology, focusing on solving a specific pain point rather than building an elaborate product.

- Example: Instead of creating an all-encompassing cloud suite, they started with a simple folder that synced files. Users loved it.

3. Viral Growth: The Power of Referrals

- Insight: Dropbox's referral program was ingenious. For every friend a user referred, both parties received extra storage space.

- Example: Users enthusiastically shared Dropbox with colleagues, friends, and family, leading to exponential growth.

4. Technical Challenges: Scaling and Security

- Insight: Dropbox faced technical hurdles, including scalability and security concerns.

- Example: They invested in robust infrastructure and encryption, assuring users that their data was safe.

5. The Freemium Model: Hooking Users

- Insight: Dropbox offered a free tier with limited storage, enticing users to try it out.

- Example: A student signs up for free, uploads assignments, and soon realizes they need more space. They upgrade to a paid plan.

6. Integration with Ecosystems: Seamless Experience

- Insight: Dropbox integrated with popular tools like Microsoft Office and Google Docs.

- Example: A marketing team collaborates on a presentation using Dropbox, seamlessly switching between editing tools.

7. Mobile First: Ubiquitous Access

- Insight: Dropbox prioritized mobile apps, recognizing that users needed access on the go.

- Example: A photographer uploads photos from their phone, edits them on their tablet, and shares them with clients via Dropbox links.

8. Pivot to Business: Enterprise Solutions

- Insight: Dropbox expanded into the enterprise market, offering business plans.

- Example: A startup team uses Dropbox business for team collaboration, file versioning, and secure sharing.

9. IPO and Beyond: A Unicorn Story

- Insight: Dropbox went public in 2018, achieving unicorn status.

- Example: Investors celebrate as Dropbox's stock soars, validating their belief in the disruptive power of cloud storage.

10. Lessons Learned: Simplicity Wins

- Insight: Dropbox's success lies in its simplicity, user-centric approach, and relentless focus on solving real problems.

- Example: As competitors added bells and whistles, Dropbox stayed true to its core mission.

In summary, Dropbox's journey from a humble folder-syncing service to a global cloud storage giant exemplifies the lean startup principles. They disrupted an industry by solving a fundamental problem, leveraging virality, and staying agile. So next time you drag a file into your Dropbox folder, remember the audacious vision that made it all possible.

7. Theranos - Unraveling the Deception in Biotech

In the annals of startup history, few tales are as captivating and cautionary as that of Theranos, a once-promising biotech company that ultimately crumbled under the weight of its own deception. Founded in 2003 by the charismatic Elizabeth Holmes, Theranos promised to revolutionize healthcare by making blood testing faster, cheaper, and more accessible. The company's vision was audacious: a single drop of blood could reveal a wealth of health information, replacing the traditional vials of blood drawn from veins.

1. The Hype and the Vision

Holmes, with her signature black turtlenecks and unwavering gaze, captivated investors, media, and the public alike. She painted a picture of a future where patients could monitor their health at home, bypassing the inconvenience of doctor visits and lab tests. The promise was tantalizing: early detection of diseases, personalized medicine, and a world where no one would suffer due to late diagnoses.

2. The Deception Unraveled

Behind the scenes, however, things were far from rosy. Theranos' technology, which relied on a proprietary device called the Edison, was plagued with issues. The device was supposed to perform hundreds of tests on a single drop of blood, but it consistently produced inaccurate results. Employees who raised concerns were met with intimidation and secrecy. The company's culture of fear stifled dissent, and the truth remained hidden.

3. The Whistleblowers and Investigative Journalism

Enter the whistleblowers. Former employees like Tyler Shultz and Erika Cheung risked their careers to expose the truth. They revealed that Theranos was using commercially available machines for most of its tests, rather than the revolutionary Edison. Investigative journalist John Carreyrou of the wall Street journal dug deeper, uncovering a web of lies, falsified data, and regulatory violations.

4. The Fall from Grace

As the truth emerged, the house of cards collapsed. The FDA shut down Theranos' lab, and the company faced multiple lawsuits. Elizabeth Holmes, once hailed as the next Steve Jobs, was indicted on charges of fraud. The company's valuation plummeted from $9 billion to virtually nothing. Investors lost fortunes, and patients who had relied on faulty test results faced uncertainty about their health.

5. Lessons Learned

- Transparency Matters: Theranos' downfall underscores the importance of transparency. Startups must be honest about their capabilities, limitations, and risks. Hiding problems only exacerbates them.

- Scientific Rigor: Biotech startups must adhere to rigorous scientific standards. Cutting corners can have dire consequences, both ethically and financially.

- Culture and Leadership: A toxic culture stifles innovation and encourages deception. Leaders must foster an environment where dissent is welcomed, and integrity is non-negotiable.

- Due Diligence: Investors and partners should conduct thorough due diligence. Blindly trusting charismatic founders can lead to disaster.

6. Conclusion

Theranos serves as a stark reminder that even the most compelling vision can crumble when built on deception. As we learn from its failures, we must strive for a future where innovation is grounded in truth, ethics, and genuine impact.

Example: Imagine a patient who trusted Theranos' faulty test results, delaying critical treatment. The consequences were real, and the lesson enduring.

8. Lessons for Entrepreneurs from Lean Startup Examples

Let's dive into the key takeaways and lessons for entrepreneurs from lean startup examples. In this section, we'll explore practical insights that can help aspiring entrepreneurs navigate the challenging landscape of building and scaling a startup. These insights are drawn from both successful and failed lean startup stories, providing a well-rounded perspective.

1. Embrace the MVP (Minimum Viable Product):

- The concept of an MVP is at the core of the lean startup methodology. Entrepreneurs should focus on building the simplest version of their product that delivers value to users. By doing so, they can quickly test assumptions, gather feedback, and iterate based on real-world data.

- Example: Dropbox started as a simple file-sharing tool with minimal features. Users loved it, and the company gradually expanded its offerings based on user needs.

2. continuous Learning and adaptation:

- Lean startups prioritize learning over rigid planning. Entrepreneurs should be open to adjusting their strategies based on market feedback and changing circumstances.

- Example: Airbnb initially focused on renting out air mattresses in people's homes during conferences. They learned that travelers wanted more diverse accommodation options, leading to their pivot into a global home-sharing platform.

3. Pivot When Necessary:

- Sometimes, startups need to change direction. A pivot involves shifting the business model, target audience, or product features. It's not a failure; it's an adaptive response.

- Example: Slack began as a gaming company called Tiny Speck. When their game failed, they pivoted to create the now-popular team communication tool.

4. Validated Learning through Experiments:

- Entrepreneurs should design experiments to validate hypotheses. These experiments can be A/B tests, surveys, or user interviews.

- Example: Buffer, a social media scheduling tool, experimented with pricing models and features to find what resonated best with users.

5. build-Measure-Learn loop:

- The lean startup process revolves around this loop. Build a feature, measure its impact, learn from the data, and iterate.

- Example: Instagram started as a check-in app called Burbn. After analyzing user behavior, they realized people loved sharing photos, leading to the app's transformation into Instagram.

6. Focus on Customer Development:

- Engage directly with potential customers to understand their pain points, needs, and desires. Customer development informs product decisions.

- Example: Zappos founder Tony Hsieh spent hours on customer service calls to learn about customer preferences and improve the online shoe-buying experience.

7. avoid Vanity metrics:

- Metrics like total registered users or page views can be misleading. Focus on actionable metrics that drive business growth.

- Example: Dropbox shifted from tracking sign-ups to measuring user engagement and referrals.

8. Fail Fast, Fail Cheap:

- Rather than investing heavily in unproven ideas, test them quickly and inexpensively. Failures are learning opportunities.

- Example: Fab.com, an e-commerce site, pivoted multiple times before finding success.

9. Leverage lean Canvas or Business model Canvas:

- These visual frameworks help entrepreneurs map out their business model, value proposition, customer segments, and channels.

- Example: Airbnb used the business Model canvas to clarify their revenue streams and customer relationships.

10. Stay Agile and Adaptable:

- The startup landscape is dynamic. Entrepreneurs should be ready to adjust their sails as they navigate the stormy seas.

- Example: Slack's rapid growth required continuous adjustments to their infrastructure and team structure.

Remember, every startup journey is unique, but these lean startup principles provide a solid foundation for success. Learn from both triumphs and setbacks, and keep iterating toward your vision!

9. Embracing the Lean Startup Approach for Business Success

In today's rapidly evolving business landscape, the Lean Startup approach has emerged as a powerful methodology for entrepreneurs and startups to achieve success. By focusing on experimentation, iterative development, and customer feedback, the Lean Startup approach enables businesses to validate their ideas, minimize risks, and maximize their chances of building a sustainable and scalable business.

1. embracing a Culture of innovation: The Lean Startup approach encourages businesses to foster a culture of innovation, where experimentation and learning are valued. By embracing this mindset, businesses can continuously adapt and evolve their products or services based on customer feedback and market demands.

2. Rapid iteration and Minimum Viable product (MVP): One of the key principles of the Lean Startup approach is the concept of rapid iteration and the development of a Minimum Viable product (MVP). By releasing an MVP early on, businesses can gather valuable feedback from customers and make informed decisions about product improvements or pivots.

3. Customer-Centric Approach: The Lean Startup approach emphasizes the importance of understanding and addressing customer needs. By actively engaging with customers, businesses can gain insights into their pain points, preferences, and expectations. This customer-centric approach enables businesses to build products or services that truly resonate with their target audience.

4. Validating Assumptions: Another crucial aspect of the lean Startup approach is the validation of assumptions. By conducting experiments and gathering data, businesses can test their hypotheses and make data-driven decisions. This helps in avoiding costly mistakes and ensures that resources are allocated effectively.

5. Fail Fast, Learn Faster: The Lean Startup approach encourages businesses to embrace failure as a learning opportunity. By adopting a fail-fast mentality, businesses can quickly identify what works and what doesn't, allowing them to iterate and improve their offerings. This iterative process of learning and adapting is key to long-term success.

6. Case Study: Let's consider the example of a tech startup that developed a mobile app for food delivery. By following the Lean Startup approach, they released an MVP with basic features and gathered feedback from early adopters. Based on this feedback, they identified the need for additional payment options and improved user interface. By continuously iterating and incorporating customer feedback, they were able to build a robust and user-friendly app that gained traction in the market.

embracing the Lean Startup approach can significantly increase the chances of business success. By prioritizing experimentation, customer feedback, and continuous improvement, businesses can build products or services that meet market demands and create a sustainable competitive advantage.

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