One of the most unfair things about the battle between legacy businesses & startups isn’t the different cost bases, but market expectations. One has to deliver quarter on quarter profit increases, the other can spank someone else’s cash on user acquisition until bought. When we say "why didn't P&G make Dollar Shave Club?", we need to be aware that they've reduced the profitability in a sector, while making losses each and every year.  Many startups business goals is to be sufficiently irritating for long enough to be bought by a frustrated incumbent. …see more