Some ideas hit you like a freight train. They are so simple, yet complex. Explained in a sentence, but leading to profound conclusions. For me, power to the people is one of those ideas.
Power to the People
Rich Barton is a genius. He founded Expedia, Glassdoor and Zillow. All of these amazing companies had a common thread throughout them. They democratized access to critical information. Expedia made travel information widely available and easily booked. Glassdoor made salary information readily available. Zillow created the Zestimate and created house porn (okay, y’all know how Zillow actually helped beyond the porn).
“This hunger for freedom and an innate drive to empower consumers is also the spark of the ideas behind my philosophy of company creation and investment—what I call “power to the people.” Revolutionary companies give power to the people, which they use to disrupt entrenched incumbents and usher in a new order.”Rich Barton
Power to the people is simple, you shift the power to the people. Empowering consumers comes in many different forms; removing barriers to entry, giving away information for free, or dramatically lowering costs. Rich Barton wasn’t the only one to use this idea either. From Google to Facebook to Spotify, empowering consumers is a profitable endeavor.
Power to the Fat Baby
I love the idea of power to the people. It makes the world a better place and hopefully makes me money. It’s a beautiful combination. Whether I apply this idea to investing or find a killer idea of my own, I’ll be pushing the power to the people.