Exploration vs exploitation. Initially all businesses are trying to figure out how to make money by quickly exploring possible business ideas. That's when the

Exploration vs exploitation. Initially all businesses are trying to figure out how to make money by quickly exploring possible business ideas. That's when the most fun but also most start-up tragedies happen. Once some revenue stream is found, the company can start growing, getting into collaborative phase, where it is viewed as a super cool place and most people inside can change things. At some point business opportunities get exhausted, other measures need to be put in place, company grows too big for everybody to have a voice; bureaucracy and formalism sets in, company starts to be perceived as losing its edge and being stale, optimizing for its core profit, exploiting as much as it can and stopping most of the exploration. Innovative people move on to other spaces allowing exploration, reliable business types move in.