Think about all the Harvard Business Study cases about innovation and market leaders that miss the inflection point in the market. Some recover like New Coke v. Old Coke. Others have to sell every intangible asset they have just to surface from Bankruptcy (think Kodak and not going with the digital revolution even though they OWN THE PATENT). Stern is at that critical point where the market is demanding something and they have a big investment in a new production facility. JJP may be small now, but look at many of the posts in the last 12 months on pinside... if people act like me and decide a NIB won't be purchased on even their favorite, all books read, binge watching GoT fans, then it's $8,000 going somewhere else. Not deferred to a later innovated pin... but diverted forever to someone in the marketplace that does listen to consumer demand. These aren't low priced toys.
Bring on Kodak.
Bring on New Coke.
Think you'll be buying books from Borders forever?
Look at what Redbox (and online) did to Blockbuster.
Remember Palm? Blackberry?
JJP just got a 'major investment' by ThinkLab Ventures. We don't know the terms of course. Is it just term debt to tide them over? Convertible equity at very favorable terms? Preferred accumulating return stock? Combination. Who knows... but either they were underwater or investing. I would think investing. Stern better watch their back and hear the demands of the market. Only Stern knows their financial position and I would bet he has heard the ROAR... but the longer he takes to adapt to the changing market... the more risk he has to be the next Kodak, Borders, Blockbuster, Palm, Blackberry.... etc etc. The more pins that are made by 'small businesses' that then find backing to be big.
Come on Stern. Give us a reason to cheer. We appreciate you keeping the market alive but don't let it pass you by.
And Pinside community, you have the ability to speak with your wallets. Join me on the ride! GARY, WOULD LOVE FOR YOU TO TAKE THE DRIVERS SEAT!