We love business stories.

A great tale can help you learn more about a business than you can ever hope to learn from a textbook.

The best part is …

… the story which you are about to hear actually happened.

What we are about to share is not some made-up story to make a point about investing.

It’s a real-life story about innovation and failure.

With that in mind, let’s get started.

Over a decade ago, a CEO stood at the stage, ready to reveal his company’s next exciting product.

The anticipation was high for a huge reveal.

The atmosphere was electric. The hype was in the air.

… and then, the moment finally arrived.

The CEO unveiled what he called a “revolutionary and magical” product.

In fact, he was so confident that he declared the company’s new product as being five years ahead of other similar products, instantly pulling the shade over all its competitors.