If Everyone Else is Such an Idiot, How Come You're Not Rich?
One of the important points I've heard Clay Christensen make is that incumbent companies often get destroyed (disrupted) by small players not because they're incompetent, or even because they're making bad decisions. Each decision along the way seems perfectly rational. Christensen frames it ultimately as a problem of measurement, that people are measuring the wrong thing, therefore optimizing for or solving the wrong problem.I think this article correctly points out that Hastings isn't stupid, but he's in a tight spot, just because of the circumstances.