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What hot new tech product do you think will be completely forgotten about a year from now?

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Clarifying Quesitons ==>
Assuming this could be a physical product or a mobile app or anything else.

What does “hot new tech” imply? Product is popular and being sold or users amongst its target users or it is hot in terms of being very widely talked about? è Assume that it is popular in the early adopters and widely being discussed on all media platforms

Assuming that “forgotten” implies that, it will get obsolete/replaced by something new or even if exists will not be a trending topic anymore

 

What could lead to any product to get obsolete

1)     Product not solving any real user problem but being adopted by early adopters just out craze

2)     Difficult to enter à Not easy to sign-up

a)      Due to cost

b)     Due to licensing/compliance or any entry restrictions

3)     Difficult to participate à Not easy to use

a)      Complicated to use

b)     Not enough support in place

c)      Requires a lot of investment/engagement – Time, Cost etc

4)     Easy and simple alternates available in the market

5)     No cost for replacement à Not deep enough product moat

 

Let’s look at few latest trends across various industries and then use the criteria set above to find the hot new product which will be completely forgotten in sometime from now.

I will pick two industries to do the assessment

 

 

 

Criteria that tick

Technology

Crypto Currency

·        Few cryptocurrencies are solving real world problems such as remittance, being recognized as legit tender for transaction

·        With the emergence of various exchanges entry and participation has eased a lot

·        Product moat is very deep, if a crypto currency is recognized as legal tender for transaction, it will be expensive to revert

NFT

·        NFT is not solving any real user problem it is merely a collectible; ownership of which is stored on blockchain

·        Difficult to enter/ participate -- Currently there are very less exchanges offering NFTs since trading NFTs with fiat currency is not possible

·        Easy to replace -- Physical art is still an easy alternative

·        Product moat is deep since switching from NFT to physical art may be costly/cheaper depending on price of physical art   

 

Automobile

Self-driving

·        Solving a real problem

·        Neither difficult to enter or participate with the emergence of technology

·        Easy alternatives are available –Ye, conventional cars

·        Product moat is very deep since there is a major cost of replacing this product

Alternate energy

Conclusion – Basis the assessment,  NFT appears to be a candidate that will either be replaced or forgotten in a year or so from now

 

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Get access to 2,346 pm interview questions and answers to give yourself a strong edge against other candidates that are interviewing for the same position
Get access to over 238 hours of video material containing an interview prep course, recorded mock interviews by expert PMs, group practice sessions, and QAs with expert PMs
Boost your confidence in PM interviews by attending peer to peer mock interview practices, group practices, and QA sessions with expert PMs