The SparkCom Podcast

9-4-2020: Look to Tesla for Creating High Value Innovations

Episode Summary

Adam and Manny take a look at how one of the world’s most innovative companies, Tesla, arose and achieved such high valuation when others in the automotive industry have considered it too unconventional and no match for other auto companies. Despite Tesla’s different operative practices and primary emphasis on producing electric cars, Adam points out that Tesla found success by finding the unmet need of consumers for stylish, high performance, and ecologically secure cars and, now, other clean energy technology. Meanwhile, the rest of the auto industry have become unmatched and uninnovative competitors with resistance to moving beyond the car, and continuing business from the dealership--not the customer--perspective. With the world becoming more mobile and asynchronous, traditional car manufacturers like GM won’t stand a chance against Tesla without changing the way it brings value to consumers.