Startups Need Shade—Not Just Time—To Grow

I was having breakfast recently with a friend who argued that Nest, the hardware company, only existed because it chose to do something that wasn’t important enough for a company like Apple to do because the market wasn’t big enough to move the needle for it.

It reminded me of an old Mark Zuckerberg trope that he has repeated many times in public, namely that he always expected social networking to be won by one of the big technology companies with tons of resources and patience—not a startup.