Reid Hoffman on Dealing With Disruption Whiplash
Disrupting a market almost always involves some sort of backlash from incumbent businesses.
For LinkedIn co-founder Reid Hoffman (above, left), persevering in the face of such resistance is a requirement of being a disruptor.
During a conversation with Inc. president and editor-in-chief Eric Schurenberg, Hoffman shared his belief that entrepreneurs should expect pressure from proponents of the "established" way of doing things.
"There is some whiplash just from the amount of change and things that are happening. That always happens from an accelerating technological environment and accelerating globalization," Hoffman says. "You want to say, 'How should the world really be and what's the way that we should all be living in it?'"
For example, businesses such as Airbnb have faced resistance from hotels for disrupting the hospitality industry, but that doesn't mean there's something wrong with the company's model, according to Hoffman.
"We've allowed people to rent a room...facilitating them being able to rent a room, even for a weekend, is actually a good thing," he says.
"The question is: how do we make this good for the city and neighbors? Will it change the dynamics of the hotel industry some? Sure, but having a suite of different options that consumers can choose between is a good thing."
To hear more about dealing with disruption whiplash, watch the video below.
Reid Hoffman's Surprising (and Highly Effective) Hiring Strategy
LinkedIn co-founder Reid Hoffman talks to Inc.'s Eric Schurenberg about his unique hiring strategy, networking best practices for entrepreneurs, and his new book “The Alliance: Managing Talent in the Networked Age.”