Lens family
140 analysesAdjacency Expansion ✕
Exxon's $60B Pioneer Deal Wasn't a Bet on Shale. It Was a Bet on Itself.
Exxon-Pioneer
Microsoft Didn't Pay $26 Billion for 430 Million Résumés. It Bought a Graph.
Microsoft-LinkedIn
Pfizer Spent $43 Billion on a $2 Billion Company. It Wasn't Buying Revenue.
Pfizer-Seagen
Salesforce Paid $27.7B for Slack. The Real Prize Wasn't Chat — It Was Distribution It Couldn't Build.
Salesforce-Slack
DC Started the Race First. Marvel Just Had a Blueprint.
Marvel vs DC
Amazon Didn't Leap Into New Industries. It Sold the Plumbing It Was Already Forced to Build.
Amazon
Microsoft Didn't Diversify. It Built a Gravity Well One Acquisition at a Time.
Microsoft
Nvidia Didn't Pivot Four Times. It Made One Bet and Re-sold It to Everyone.
Nvidia
Google Didn't Diversify Away From Ads. It Bought Better Places to Sell Them.
Alphabet (Google)
LVMH Looks Like a Master Plan. Its Own CFO Says It Wasn't.
LVMH
Salesforce Didn't Expand Beyond CRM. It Bought Its Way There.
Salesforce
Samsung Didn't Leap Into Chips. It Bought a Bankrupt Factory and Let Korea Cover the Bet.
Samsung
BlackRock Didn't Diversify. It Bought One New Limb at a Time.
BlackRock
Marriott Tried Theme Parks, Cruises, and Senior Living. It Kept None of Them.
Marriott
Marvel Didn't Expand Into Movies. It Got So Broke It Had to Sell the Characters First.
Marvel
Crocs Didn't Buy an Adjacency. It Bought a Pandemic Multiple.
Crocs
Nike Didn't Plan an Empire. It Reacted Its Way Into One — Around the Shoe.
Nike
Kodak's Adjacency Bets Weren't Bad Deals. They Were Brilliant Deals at the Worst Possible Time.
Kodak
Adobe Didn't Leap From Art to Marketing. It Walked, One Standard at a Time.
Adobe
Amazon Bought MGM for James Bond. It Didn't Get James Bond.
Amazon-MGM