Finland's Lost Tech Dominance
Market dominance requires more than technical excellence—Nokia's lesson.
Finland's Lost Tech Dominance
Yeah, because when there are no/less alternatives and no/little money behind the alternatives, good products live and thrive.
But when there are alternatives in the market and huge money behind them, the rules change. And to keep up, having a good product almost means nothing.
Finland was a key tech player 20 years ago: We invented SSH and IRC protocols. Nokia was the EU's most expensive company, selling more phones yearly than Apple and Samsung sell today combined. We invented the OS that runs most internet servers today. Nokia failed and Linux is free...
The lesson isn't that Finnish innovation was lacking. It's that market dominance requires more than technical excellence. It requires capital, ecosystem control, and relentless execution. Finland had the first two for a while. Then it didn't.