This Company Was Loved by Astronauts… and Still Failed, why?

Описание: Sometimes, the biggest wave isn't in the ocean. It's in business.

Nick Woodman, a passionate surfer from California, had just returned from a trip to Australia. He was frustrated. While surfing, he couldn’t find a way to capture his experience — no camera was durable, small, or wearable enough.

So he strapped a 35mm film camera to his wrist with a rubber band. That moment sparked an idea:

“What if athletes could film themselves — anywhere, hands-free?”

He borrowed $200,000 from his parents and began developing a rugged, wearable camera. In 2004, the first GoPro was born — a film-based camera sold for $20.

Join this channel to get access to perks:
   / @indrazith1  

As YouTube exploded in the late 2000s, GoPro became the go-to camera for adrenaline junkies.

Skydivers, skaters, climbers, and bikers were strapping GoPros to their gear — and sharing viral videos like never before.
By 2010, GoPro had gone digital, HD, and waterproof — and was outselling every other camera brand in its category.

In 2012, Woodman sold a stake to Foxconn for $200 million — valuing the company at $2.25 billion.

GoPro went public in June 2014. The IPO was a blockbuster. The stock jumped 30% on Day 1.

Soon, the company was worth $11 billion.
Nick Woodman became the highest-paid CEO in the U.S., earning $285 million that year.

GoPro was more than a camera. It was a movement. A lifestyle brand.
It signed athletes, launched accessories, and even planned a media empire.

But success was deceptive. Behind the scenes, GoPro was making 3 critical mistakes:

Overreliance on a niche: Adventure sports were cool, but not mass market.
Lack of innovation: The product didn’t evolve fast enough. Competitors caught up.
Pricing + Complexity: Models became confusing. Why was Hero5 different from Hero+ LCD?
And worse, smartphones got better. Why buy a $400 GoPro when your iPhone could shoot 4K?

In 2016, GoPro made a bold move: it launched a drone called Karma to compete with DJI.

It backfired.
• The drone had technical issues
• Some units fell mid-flight
• It was recalled
• GoPro lost millions and exited the drone market within a year

Their media venture also collapsed. Revenue dropped. Layoffs followed.

By 2018, the stock was trading below $6, down over 90% from its IPO high.

GoPro tried to pivot:

Introduced subscription services
Streamlined its product line
Focused on influencers and lifestyle branding
Cut costs and improved margins
It found stability, but not growth.
By 2023–2024, GoPro became a small, profitable company — but no longer the category leader it once was.

📚 Chapter 7: Lessons from GoPro’s Fall
1. Don’t confuse a product with a company.
GoPro had a great camera. But it didn’t build a moat. It relied on hype.

2. Ride the trend, but don’t let it ride you.
YouTube made GoPro. Smartphones killed it. Trends shift fast.

3. Innovate or become irrelevant.
In tech, resting for even one product cycle can kill you.

4. Diversify wisely.
Karma drone was ambitious but rushed. It became Karma’s curse.