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April 2025
Case

Sharon Goldberg and BastionZero

By: Jeffrey J. Bussgang, James Barnett and Maxim Pike Harrell

In December 2023, BastionZero co-founder and CEO Sharon Goldberg considered her startup’s future. Established in 2017 as a blockchain company focused on improving the security of cryptocurrency trading, in March 2020 the VC-backed startup shifted focus to a new... View Details

Keywords: Business Startups; Entrepreneurial Finance; Technological Innovation; Business Strategy; Business Exit or Shutdown

March–April 2025
Article

Strategy in an Era of Abundant Expertise: How to Thrive When AI Makes Knowledge and Know-How Cheaper and Easier to Access

By: Bobby Yerramilli-Rao, John Corwin, Yang Li and Karim R. Lakhani

The AI era is in its early stages, and the technology is evolving extremely quickly. Providers are rapidly introducing AI "copilots," "bots," and "assistants" into applications to augment employees' workflows. Examples include GitHub Copilot for coding, ServiceNow... View Details

Keywords: AI; AI and Machine Learning; Performance Productivity; Experience and Expertise; Technology Adoption

April 2025
Case

Netflix in 2024

By: Jan Rivkin and David Allen

In 2024, Netflix appeared to emerge victorious from the “streaming wars” that it had waged in recent years with the likes of Disney, Warner Bros. Discovery, Apple, and Amazon. What had allowed Netflix not only to succeed in the streaming wars but also to thrive for... View Details

Keywords: Entertainment; Film Entertainment; Television Entertainment; Digital Platforms; Internet and the Web; Organizational Culture; Strategy; Adaptation; Business Strategy; Entertainment and Recreation Industry; Entertainment and Recreation Industry; United States

2025
Working Paper

Prices and Concentration: A U-shape? Theory and Evidence from Renewables

By: Michele Fioretti, Junnan He and Jorge Tamayo

We show that when firms compete via supply functions, transferring high-cost capacity to the largest, most efficient firm—thereby diversifying its production technologies while increasing concentration—can lower prices by prompting the leader to expand output and... View Details

Keywords: Diversified Production Technologies; Concentration Levels; Market Power; Supply Function Equilibrium; Hydropower; Energy Transition; Renewable Energy; Price; Competition; Supply and Industry; Energy Industry; Colombia

April 2025 (Revised April 2025)
Case

JPMorganChase: Leadership in the Age of GenAI

By: Iavor I. Bojinov, Karim R. Lakhani and David Lane

This case study examines JPMorgan Chase's (JPMC) journey in adopting and implementing Generative AI (GenAI) following the release of ChatGPT. It outlines JPMC's initial cautious approach focused on data security, followed by strategic investments in internal platforms... View Details

April 2025
Case

Breezm: Innovative 3D-Printed Eyewear (A)

By: Juan Alcácer, Brian Mao Fu and Adina Wong

In 2023, Breezm, a South Korean startup, faced a strategic decision about how to grow its innovative 3D-printed, custom-fit eyewear business. Co-founded in 2017 by Zenma Park and Wooseok Sung, Breezm combined facial scanning, AI, and in-house production to solve the... View Details

Keywords: 3D Printing; Eyeyewear; Growth; Business Startups; AI and Machine Learning; Technological Innovation; Growth and Development Strategy; Risk and Uncertainty; Expansion; South Korea

April 2025 (Revised June 2025)
Case

Paul Weiss: Fighting or Negotiating with POTUS

By: Eugene Soltes and Anthea Brady

In early 2025, Paul Weiss Chairman Brad Karp weighed how to respond to an Executive Order from President Trump that could threaten the financial livelihood of his law firm. Paul Weiss and Karp had to decide to mount a legal fight or negotiate with the White House. The... View Details

Keywords: Federal Government; Decision Making; Law; Mission and Purpose; Negotiation; Business and Government Relations; Legal Services Industry; United States

April 2025
Supplement

ZEISS: Commercializing Science

By: Maria P. Roche and Richie Zitomer

Spreadsheet Supplement for HBS Case No. 725-359. View Details

April 2025
Article

An Anatomy of Crypto-Enabled Cybercrimes

By: Will Cong, Campbell Harvey, Daniel Rabetti and Zong-Yu Wu

The advent of cryptocurrencies and digital assets holds the promise of improving financial systems by offering cheap, quick, and secure transfer of value. However, it also opens up new payment channels for cybercrimes. Assembling a diverse set of public on- and... View Details

Keywords: Cryptocurrency; Crime and Corruption; Technology Adoption; Currency; Policy

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April 2025
Article

Dynamic Silos: Increased Modularity and Decreased Stability in Intra-organizational Communication Networks During the COVID-19 Pandemic

By: Tiona Zuzul, Emily Cox Pahnke, Jonathan Larson, Christopher White, Patrick Bourke, Nicholas Caurvina, Neha Parikh Shah, Fereshteh Amini, Youngser Park, Joshua Vogelstein, Jeffrey Weston and Carey E. Priebe

Workplace communications around the world were drastically altered by COVID-19, related work-from-home orders, and the rise of remote work. To understand these shifts, we analyzed aggregated, anonymized metadata from over 360 billion emails within 4,361 organizations... View Details

Keywords: Remote Work; COVID-19; Communication Technology; Organizational Change and Adaptation

April 2025
Case

Salesforce Agentforce: The Limitless Workforce

By: Suraj Srinivasan, Allison Ciechanover and George Gonzalez

In early 2025, Salesforce was a global leader in cloud-based enterprise software, best known for pioneering customer relationship management (CRM) delivered as a service. Over the past two decades, the company had expanded into marketing, customer service, analytics,... View Details

Keywords: Business Model; Customer Relationship Management; Price; AI and Machine Learning; Technology Adoption; Organizational Change and Adaptation; Sales; Business Strategy; Ethics; Product Launch; Technology Industry; United States

2025
Book

The Experimentation Machine: Finding Product–Market Fit in the Age of AI

By: Jeffrey J. Bussgang

Leverage AI to be a 10x Founder

Today’s most successful founders know that the startups that learn the fastest will win. In The Experimentation Machine, I reveal how AI is transforming the way startups find product-market fit and scale.... View Details

Keywords: AI; Founder; Startup; AI and Machine Learning; Technology Adoption; Business Startups; Entrepreneurship; Market Entry and Exit

2025
Working Paper

The Invention of Corporate Governance

By: Yueran Ma and Andrei Shleifer

The analysis of corporate governance begins with a central feature of modern capitalism—the separation of ownership and control in large corporations—first empirically documented by Berle and Means (1932). Such separation entails several agency problems reflecting... View Details

Keywords: Corporate Governance; Law; Business and Shareholder Relations

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March 2025
Case

Hurtigruten: Sea Zero

By: Christian Kaps and Michael W. Toffel

Hurtigruten was deciding whether the next ship they built should be fully electric. But such a vessel's battery, the size of electric cars, needed to be charged on the ship's multi-day voyage along the Norwegian coast. Before making such a $250 million investment, the... View Details

Keywords: Energy Sources; Alternative Energy; Ship Transportation; Environmental Regulation; Environmental Sustainability; Innovation and Management; Green Technology; Investment; Corporate Social Responsibility and Impact; Shipping Industry; Tourism Industry; Transportation Industry; Travel Industry; Battery Industry; Norway; Europe

March 2025
Case

Mobvoi's Path Through Market Challenges and Business Reinvention

By: Paul A. Gompers and Shu Lin

Founded in 2012, Mobvoi evolved through multiple transformations—from AI-driven voice technology to smart wearables and later AI-generated content. Backed by major investors, the company navigated shifts in strategy while facing two failed IPO attempts. As market... View Details

Keywords: Business Startups; Entrepreneurship; AI and Machine Learning; Transformation; Initial Public Offering; Business Strategy; Technology Industry; China

March 27, 2025
Article

How One Company Used AI to Broaden Its Customer Base

By: Sunil Gupta and Frank V. Cespedes

The software company SAP successfully leveraged AI tools to begin selling to the small and medium enterprises (SMEs) market, which had previously been uneconomical for its in-person sales approach. By mapping the customer journey and deploying over 40 AI tools, SAP... View Details

Keywords: AI and Machine Learning; Sales; Business Strategy; Market Entry and Exit

March 2025
Case

Niramai: An AI Solution to Save Lives

By: Rembrand Koning, Maria P. Roche and Kairavi Dey

Founded in 2017, Niramai developed Thermalytix, a breast cancer screening tool. Thermalytix used a high-resolution thermal sensing device and machine learning algorithms to analyze thermal images and detect tumors. Its patented solution leveraged big data analytics,... View Details

Keywords: Entrepreneurship; AI and Machine Learning; Technology Adoption; Health Care and Treatment; Technology Industry; Technology Industry; Asia; India; South Asia

2025
Working Paper

The Cybernetic Teammate: A Field Experiment on Generative AI Reshaping Teamwork and Expertise

By: Fabrizio Dell'Acqua, Charles Ayoubi, Hila Lifshitz, Raffaella Sadun, Ethan Mollick, Lilach Mollick, Yi Han, Jeff Goldman, Hari Nair, Stew Taub and Karim R. Lakhani

We examine how artificial intelligence transforms the core pillars of collaboration— performance, expertise sharing, and social engagement—through a pre-registered field experiment with 776 professionals at Procter & Gamble, a global consumer packaged goods company.... View Details

Keywords: Artificial Intelligence; Teamwork; Human-machine Interaction; Productivity; Skills; Innovation; Field Experiment; AI and Machine Learning; Groups and Teams; Competency and Skills; Performance Productivity; Collaborative Innovation and Invention; Product Development

March 2025 (Revised April 2025)
Case

Perplexity: Redefining Search

By: Suraj Srinivasan, Michelle Hu, Sriraghav Srinivasan and Radhika Kak

By early 2025, Perplexity had rapidly evolved from a modest startup into a popular "answer engine" valued at $9 billion. The company had boldly positioned itself as the disruptor to Google aiming to redefine search for the AI age. Through novel AI... View Details

Keywords: AI and Machine Learning; Venture Capital; Innovation Leadership; Technological Innovation; Internet and the Web; Business Startups; Competitive Strategy; Business Model; Technology Industry; United States

March 2025
Supplement

Wasabi Technologies (B)

By: Lou Shipley and Stacy Straaberg

Set in 2019, the “Wasabi Technologies (A)” case centers on Wasabi Technologies (Wasabi), a successful hot cloud storage company based in Boston, Massachusetts. Founder and CEO David Friend is ready to scale the four-year-old venture rapidly. Wasabi had so far focused... View Details

Keywords: Information Management; Sales; Product Development; Growth and Development Strategy; Business Strategy; Information Technology Industry; United States; Massachusetts; Boston

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