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Company Quote by Nir Eyal

“Many innovations fail because consumers irrationally overvalue the old while companies irrationally overvalue the new.” quote by Nir Eyal — Download Open image

“Many innovations fail because consumers irrationally overvalue the old while companies irrationally overvalue the new.”

About This Quote

Source Book: Hooked, 2014

People cling to familiar products while firms overinvest in new ones, causing market failures.

In simple terms: Consumers love the old; companies love the new too much.

Key Takeaway

Balance innovation with user attachment.

Themes

innovation consumer behavior market dynamics

Mood

analytical thoughtful

Type

business philosophical

When to use this quote

product launches
branding campaigns
customer research

Key Concepts

psychology economics

Questions to Reflect On

How to assess true value of new ideas?
What methods reduce bias toward novelty?

A Different Perspective

Overvaluation can lead to wasted resources.

★ ★ ★ ★ ★ 4.7 out of 5 (10 ratings)

Companies Irrationally Company Consumers Consumers Irrationally Failing Innovation Innovations Fail Irrationally Overvalue Overvalue Old Technology

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