Building 0-1

I think the mistake too many entrepreneurs make is they start companies assuming they have scale. We’ve seen no scale, we’ve seen hyperscale, and what we realized was what we have to do is we have to start with that utility and the best networks. I didn’t realize Chris wrote that post, but I should maybe in the back of my mind that’s what I was quo... See more
Ben Thompson • An Interview with Kevin Systrom and Mike Krieger About Artifact
Turns out no amount of fundraising, press, buzz, amazing employees, and/or cool tech guarantees you product market fit.
We are unlikely to be able to sell “a group chat system” very well: there are just not enough people shopping for group chat system (and, as pointed out elsewhere, our current fax machine works fine).
That’s why what we’re selling is organizational transformation
That’s why what we’re selling is organizational transformation
The downside of lead generation businesses is that they can be a race to the bottom if they're in a crowded and competitive market. The barriers to entry are essentially aggregating supply (i.e. buyers of leads or businesses willing to pay for new customers) so there is little in the way of defensibility. The other downside is that they are very tr... See more
Marketplaces, Lead Generation, and Brokerages

Q: Is it better to target a small market or a large one?
In the clip below, Peter Thiel (billionaire venture capitalist and co-founder of PayPal and Palantir) describes his framework for evaluating markets:
“It’s always a big mistake going after a giant market on day 1. That’s… Show more
Here's a common startup situation. A team busts their ass for months building the first version of their product. It's almost done. Now a big question emerges -- how do you get the first people to use your product? Hmm...
If you find yourself at this moment, then you are already… Show more
A genuine interest in something is a very powerful motivator — for some people, the most powerful motivator of all. [3] Which is why it's what Jessica and I look for in founders.
The future is self-employed
New businesses formed in the US 🚀
2019: 3.5 million
2020: 4.4 million
2021: 5.4 million
2022: 5.1 million
Only about 1/3rd of the applications filed in 2021 are for businesses deemed likely to hire employees
Majority are self employed
Source:… Show more