Most startups here are just making generic product.
What are the reasons?
lack of talent ? lack of funds ? lack of diversity ? less representation of older people and women ? Poor labour laws ?
Ask HN: Why are most US startups not solving novel problems?
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Re: Ask HN: Why are most US startups not solving novel problems?
#2I guess that the difficult part when trying something genuinely novel is finding funding. If you can't point at competitors, because there aren't any that proves that either you have a brilliant idea and you're the first. Or it's complete rubbish and there simply isn't a market.
Re: Ask HN: Why are most US startups not solving novel problems?
#3In the UK, the situation is more extreme, where every so-called 'startup' I find is either working in the payments industry (... truly a new furrow to plough /s) or the coin industry.
Re: Ask HN: Why are most US startups not solving novel problems?
#4It often comes down to risk aversion and the pursuit of proven business models for investors. However, there are startups out there focusing on novel problems, but they might face more challenges in securing funding. To enhance your resume, showcasing how your outsourcing project for a multinational corporation tackles unique challenges or innovates within their industry could set you apart and demonstrate your ability to address novel problems effectively.
Re: Ask HN: Why are most US startups not solving novel problems?
#5because VCs don’t back them unless they do something that is hot right now and VCs all invest in the same stuff.
Re: Ask HN: Why are most US startups not solving novel problems?
#6It often comes down to risk aversion and the pursuit of proven business models for investors. However, there are startups out there focusing on novel problems, but they might face more challenges in securing funding. To enhance your resume, showcasing how your outsourcing project for a multinational corporation tackles unique challenges or innovates within their industry could set you apart and demonstrate your abili…
you can only raise money if you know people
Re: Ask HN: Why are most US startups not solving novel problems?
#7Technical companies tend to be more modestly valued than consumer oriented companies.
Why? Maybe part of it is because of the inflation of tech stocks. Maybe because if you are providing a new service or product for a highly technical market, the total possible market capture and subsequent payout for venture capitalists is much more easy to calculate. Maybe because scale is limited. Maybe because the pace of adoption will be slower.
Re: Ask HN: Why are most US startups not solving novel problems?
#8[dead]
Re: Ask HN: Why are most US startups not solving novel problems?
#9In the UK, the situation is more extreme, where every so-called 'startup' I find is either working in the payments industry (... truly a new furrow to plough /s) or the coin industry.
True, but surely the point of a startup, with real investors is to make money, not "save the world" or "get your ass to mars". Disappointing really.
Re: Ask HN: Why are most US startups not solving novel problems?
#10Most things in general don’t do novel things. Its easier in terms of investing and time spent thinking to merely iterate on an idea thats already proved itself in the marketplace.