The app “bubble”!
Startups lately has seen app development as a big strategic tool to penetrate maximum market.
There’s an app for everything! Be it of any use or not, but there’s an app for it.
Not just one, but 100s of clones are simply lying there on app store, waiting to get installed for nothing.
So, are we in an App bubble?
It seemed all good to the point when apps made paying bills easy, a hassle free task, or finding jobs or something that required a better alternative in true sense.
At the moment there are over a million applications on app store and merely handful of them are having a justified operational model, making a meaningful businesses, given the market trends.
Video calls? Order food? Up-skilling yourself?
Atleast a dozen of apps out there doing the exact same job!
Here comes the problem.
The app ecosystem is being misused by people for their own economical advantage!
Example - Edutech guys are upselling their products forcefully to parents taking complete COVID-19 advantage, bypassing the fact that kids are required to control their screen time at such a nascent stage.
Lately, ban of 59 chinese apps have now formed a precedent opportunity to come up with indigenous innovations but Janta chose to build tiktok clones out of the enitre list of 59!
Some of them are even getting funded and I don’t understand how the freaking gigantic valuations justify the real value such platforms offer, besides generating traffic in large quantities but have no quality!
To add cherry on the top, media houses do the rest and people who are actually trying to build something meaningful, are left with sheer hopelessness, left in dismay and experience lack of motivation because all the cash, support and resources are finding their way to tik tok clones!
I have met and known dozens of people in last 7 years who are trying to build some ground breaking tech, completely from scratch!
From smart IoT products to life saving healthcare solutions but the immediate need of capital puts a full stop to their endeavours right there and avoid these innovations to happen!
Take a look at the highlights here:
1. Every app on your smartphone is replicable. Translating to a no defensible edge.
2. They make you lazy in the name of making your life easier.
3. Kids and potentially loads of adults know PUBG, call of duty, ludo king and couple others as the only games to exist in 2020. The concept of outdoor gaming is gradually loosing momentum.
4. Surprisingly new comers now understand and think of mobile application as the ONLY starter package as a first step to bag millions of dollars.
5. You just don’t buy a brand new smartphone. Instead you purchase hell lot of subscriptions alongside coz if you won’t, you’ll probably miss out.
And the list is endless!!
Is it going to be a pure valuation and money making game forever?
Are real innovations going to own the market anytime soon?
This may turn out to be harsh for many and a relief for some!