A few days ago I reread this article that explaines the times in which we live:
Uber, the world’s largest taxi company, owns no vehicles. Facebook, the world’s most popular media owner, creates no content. Alibaba, the most valuable retailer, has no inventory. And Airbnb, the world’s largest accommodation provider, owns no real estate. Something interesting is happening. source
And I remembered that the companies with the biggest impact operating on the market today have only one thing in common- the democratization of the product/service.
Interbrand has released the top most valuable global brands by their income, the role they play in the consumer’s life and brand loyalty. To no one’s surprise, Apple, Google, Coca-Cola, Microsoft and IBM are the top 5.
However, if we take a deeper look at some of the brands in this list, we can notice something really interesting. Some of them have managed to democratize a few industries that 15-20 years ago were believed to be untouchable.
I’ll give you some examples to help you better understand what we’re talking about when it comes to democratizing industries:
Macintosh (Apple) democratized computers
The (Apple) podcast democratized radio
Google democratized information
YouTube democratized television (movies, TV series, music videos, shows, etc.)