They go broke or rely on an ever growing market, ie housing is always being built (most of your examples).
But Instant Pot is the classic example of going broke because everyone bought exactly one of their products and never needed another (ignoring the three we have...)
Is it? From what I've read, Instant Brands (the company behind Instant Pot) merged with Corelle Brands (of the private equity firm Cornell Capital) in 2019. Corelle Brands had a portfolio of house and kitchen products from Corelle, Pyrex, SnapWare and CorningWare. In 2021 they decided to change the name from Corelle Brands to Instant Brands. And in 2023 they filled for chapter 11 bankruptcy.
It is my understanding that when Instant Brands filled for bankruptcy, they weren't selling just the Instant Pot. It wasn't even the original Instant Pot company. They were selling a wide range of kitchen products. I don't think they went broke because people bought exactly one Instant Pot.
The story doesn't end here. Apparently, Instant Brands emerged from chapter 11 as Corelle Brands.
> They go broke or rely on an ever growing market, ie housing is always being built (most of your examples).
Wouldn't that mean those new houses have new families which want a new Instant Pot? In fact I can think of other situations: people moving, going to college, splitting some of their items in divorce, etc. Sure, it's not much but it's not like the demand grinds to a halt.
I wish there was more tolerance for the Instant Pot situation in big business. Build a great product, sell wildly for many years, inventor becomes a multi-millionaire, many people are employed at good wages for a while, stock holders / investors make a reasonable return, millions upon millions of satisfied customers, and... that's it. The end of that particular story.
Keep a perfunctory tidbit of the once great company chugging along to provide replacement parts, do some servicing, and sell new ones at a much reduced volume. Just enough to keep a handful of people employed at good wages and turn a miniscule profit.
I know it is heresy to suggest this kind of thing when our entire way of life is predicated on infinite growth, but our entire way of life is also grossly inefficient (not to mention inequitable) and we are facing ever more scarce resources on a planet with less and less carrying capacity for our wasteful and destructive tendencies.
Of course this is all just yelling at clouds, because billionaires and the people who service them cannot be made to think in these terms, else they wouldn't be where they are in the first place.
But Instant Pot is the classic example of going broke because everyone bought exactly one of their products and never needed another (ignoring the three we have...)