00:00Motorola doesn't even exist anymore. The mobile device business is now owned by Lenovo,
00:04and the enterprise business is now owned by Zebra Technologies.
00:07Now, I know what you're thinking. This story is about a company failing,
00:11not succeeding. So why should I be happy about it? Well, that's a fair point. However,
00:15I think we can still take a few key lessons from this. First of all, no matter how dominant you
00:20are, you always need to be innovative. Just because Motorola was the biggest player in
00:24the mobile phone industry, didn't mean that they could sit back and relax. They needed to
00:28constantly innovate to fend off competition, and they failed to do this with the iPhone.
00:32Secondly, don't be too greedy. Remember how Motorola open-sourced their tech way back in 1973?
00:37Well, they didn't do this out of the kindness of their heart. They did this because they wanted
00:41to scale. Opening source wasn't a charity move. It was a strategic decision. But later on,
00:47they got greedy and wanted to milk their patents for all they were worth. And this backfired on
00:51them. And finally, sometimes, it's better to sell early than to die trying to compete.
00:56Motorola stuck around for way too long. When it was clear that they were you and gun,
01:00now be able to compete with the big boys. They kept trying to compete, and eventually died in
01:04the process. If they would have just sold earlier, they wouldn't be in the situation they're in today.
01:08So hopefully, you can learn from these mistakes and apply them to your own life.
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