Slide 1 — Title: “Product vs. Business Model Innovation: Where Does Innovation Live?”
Slide 2 — Agenda: Five sections — The Big Insight, Case Studies, Key Distinction, Defensibility Test, Takeaways
Slide 3 — The Big Insight: Product innovation gets the press, business model innovation gets the profits. The foundational product is rarely invented by the winner — the defensible “machine” (distribution, network effects, scale) is what captures value.
Slide 4 — Google: Didn’t invent search. The breakthrough was the auction system wrapped around it, turning a commodity utility into one of the most profitable engines in tech.
Slide 5 — Facebook: Didn’t invent social networking. The feed — data flywheels, engagement loops, optimized ad delivery — was the real moat.
Slide 6 — Amazon: Didn’t invent selling books. The marketplace flywheel — logistics, partner incentives, self-reinforcing scale — made it impossible for traditional retailers to compete.
Slide 7 — Product vs. Business Model: “A product is what you sell; a business model is why you win.” Features can be cloned in 90 days. Economics can’t — cloning your model means competitors must cannibalize themselves first.
Slides 8-9 — Defensibility Test & Takeaways: “If everyone could copy your product tomorrow, what would still make your company valuable?” The product is the bait, the model is the trap.
