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Let’s End the Myth that Ideas Are Worthless

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Re: Let’s End the Myth that Ideas Are Worthless

#61
post #58

Let's not. Ideas really are worth nothing when compared to execution. Don't take my word for it: look at successful companies. What're the ideas behind the top 10 Fortune 500 companies? 1. WalMart - a bigger and cheaper convenience store 2. Exxon - gasoline 3. Chevron - gasoline 4. GE - conglomerate: appliances, aviation, electronics, energy, weapons, etc. 5. Bank of America - banking, investment banking 6. ConocoPhi…

So then I take it that you feel watchpaintdry.com would be a hit if it were executed very well? Make no mistake about it, ideas are important. After all, look at some of the biggest names: Twitter, Facebook, AirBNB, Groupon... Do you honestly mean to tell me that the idea behind these sites had absolutely zero influence on their success?

That's really not the point. It's not that execution will guarantee success. It's that execution is the differentiating factor (apart from luck) regarding various companies attempting the same idea. Neither Facebook, Twitter, or Groupon (can't really tell about AirBNB) where innovators on the ideas per se. Social networks for college students, message streams, and online deals/discounts, where by no means new innovative ideas. Their execution set them apart and with a bit a of luck and good timing they made it big.

It's not that ideas don't matter. It's that 'new' ideas are almost always not new and have been done to death. What the idea is has never been a point being refuted by most people, what's being refuted is that the idea is what makes the difference. Lot's of people had the idea of online restaurant reservations, but that doesn't mean that everyone that brings that idea to fruition we'll be successful. It's a matter of execution that will increase any possibility of actually making it.

Re: Let’s End the Myth that Ideas Are Worthless

#63
I don't get it. I read the entire post looking for an actual debunking of the "myth."

He mentions change.org - which shortly after it launched had several competitors. It wasn't until the company changed the way it was executing that it succeeded. If any of the other companies had executed better with the same idea then change.org would not have been a success. So it all came down to superior execution.

Everyone has ideas, not everyone can execute on them. Look at facebook/myspace - can you honestly say that facebook isn't a better executed social network?

Re: Let’s End the Myth that Ideas Are Worthless

#64
post #45

The article is fighting strawmen. I've never heard anyone say that starting off with a good idea isn't important. A good idea is a necessary but not a sufficient condition. What the author doesn't argue against is that potentially good ideas are fairly abundant and easily obtained. These 'potentially good ideas' (that is, ideas which sound like they would work, but for which there is not yet any good evidence either…

Btw, evidence for good ideas can only be obtained by actually implementing the thing and throw it in the hands of customers. No amount of market research can substitute that (notice the hundreds of failed projects coming out of big corporations that have the resources to do that, but still fail).

If you're having a good idea for which evidence exists means you're not the first to try it out, and this diminishes the value of the idea since you have to differentiate yourself with a better implementation and / or marketing campaign.

People need to make a difference between having a (somewhat) original idea versus copying successful recipes with a few improvements here and there.

For example ... I'm building a service similar to Yelp (simpler, with a few twists); but I'm doing it localized for a non-English speaking country. I do have evidence that it works; but the idea is basically worthless as there are already both international and local competitors; and I'm only doing it because I know I can provide a better implementation to all of the alternatives for the people targeted (only question is the actual time to build the thing, because I may be too late at some point).

Re: Let’s End the Myth that Ideas Are Worthless

#65

Let's not. Ideas really are worth nothing when compared to execution. Don't take my word for it: look at successful companies. What're the ideas behind the top 10 Fortune 500 companies? 1. WalMart - a bigger and cheaper convenience store 2. Exxon - gasoline 3. Chevron - gasoline 4. GE - conglomerate: appliances, aviation, electronics, energy, weapons, etc. 5. Bank of America - banking, investment banking 6. ConocoPhi…

I don't know if I agree.

Ford became a significant car company through a combination of some pretty radical ideas: cars cheap enough to not be luxury goods; assembling cars on an assembly line like a meat-packing plant; mass-production factory workers being paid as if they were skilled artisans, not day laborers; and the vanadium steel that finally made the Model T possible. Ford's ideas about worker pay were so radical that they gave rise to Dodge v. Ford, where the court ruled that he was operating his business as a charity against the interests of his investors.

Wal-Mart's supply-chain automation is legendary throughout industry.

GE was founded on the idea of using charred bamboo for a lightbulb filament --- an idea that made practical the replacement of gaslights with electric lights --- and, more generally, Edison's invention of the modern industrial research lab, which produced the practical incandescent light above and a number of others. (More details at http://edison.rutgers.edu/list.htm)

HP was founded to commercialize an improved design for an electronic audio oscillator.

AT&T's history starts with some ideas cooked up by Bell (or maybe Elisha Gray) and continues through more than a century of continued innovation. They've abused their power to suppress innovation any number of times, but they've also had to carry innovation forward merely in order to survive the company's growth.

Now, most of these ideas weren't original to these companies. To my eye, what distinguishes the companies is that each of these companies made big bets on those ideas. If they'd bet too much on the wrong ideas --- as GE nearly did with direct current --- they would have gone broke.

Of course, picking good ideas to bet the company on isn't sufficient. You also have to have the discipline to execute those ideas. But if you're executing dumb ideas with great discipline, you aren't going to be "X done right". You're going to be "X done wrong".

Re: Let’s End the Myth that Ideas Are Worthless

#66
Here are some ideas that are worth something.

Matter is made of atoms of about 100 different kinds that are constantly jiggling around, which jiggling we experience as heat.

Boiling water kills germs that cause disease. Washing hands with soap before eating removes and kills germs that cause disease. It is particularly important to keep germs out of open wounds. Pure phenol and 400ppm chlorine are effective and fairly safe ways to kill germs on skin and equipment. An active enteric glucose-sodium cotransport mechanism dramatically increases enteric sodium uptake and can usually prevent diarrhea from causing death by dehydration if you mix glucose 1:1 with sodium ions in water. Breathing smoke dramatically increases your chances of getting a lung infection; make charcoal outdoors for your indoor cooking fire to avoid this. Mosquitoes carry dengue, yellow fever, and malaria; mosquito screens and nets can prevent mosquito bites and thus these illnesses. Micronutrient deficiencies cause many horrible illnesses.

Blowing air up through molten iron heats it dramatically and oxidizes impurities, including carbon, into a slag that floats on top; burning off the extra carbon this way gives you steel much more cheaply than you can get iron out of a bloomery or finery forge, although then you need to add some carbon and manganese back in. You can fix nitrogen from the air into ammonia by reacting it with hydrogen on a magnetite catalyst at 200 atmospheres and 400 degrees celsius. Heating rubber with sulfur makes it hard and tough. Adding carbon black to it makes it much tougher and also resistant to sunlight. Aluminum oxide dissolved in molten cryolite can be electrolyzed into aluminum metal with graphite electrodes.

Information in the form of a sequence of symbols can be losslessly encoded into a sequence of symbols from any other alphabet, with only a constant factor expansion or contraction. This encoding can include error-correction symbols that permit the automatic detection and correction of transmission or encoding errors if they are not too bad, and indeed for any given probability of a transmission error you can construct a code that reduces the probability of an uncorrectable error to an arbitrarily low level for any transmission rate less than a certain rate. Continuous signals such as sounds can be "sampled" many times per second and thus converted into a sequence of numbers, which can be encoded in this way; band-limited signals can be reproduced perfectly by this mechanism if they are sampled at twice their bandwidth. Nearly any physical phenomenon can be used to encode information by this means. It's often easiest to use an alphabet of just two "symbols".

Re: Let’s End the Myth that Ideas Are Worthless

#67
I think a helpful analogy might be to look at the "execution" side of the argument as "blind squirrels" and the "ideas" side of the argument as "paralyzed from the neck down squirrels".

Both are less than perfect but at least a blind squirrel has a chance at stumbling on a nut in the forrest. The paralyzed squirrel can see the nuts but will never get them on their own.

Re: Let’s End the Myth that Ideas Are Worthless

#68

  What is an “idea” for a startup? A startup idea is an
  assertion about two things; a problem that people have 
  and a way to solve it.
Here's why this post is both right and wrong, in one sentence. It's wrong, because 'a way to solve it' is not 'an idea'. Rather, 'a way to solve it' consists of a great many ideas, conceived of, and strung together, over an extended period of time. All these ideas together are what is called 'execution'. You can't solve anything without consistently having new ideas about how to solve the challenge currently at hand. That, in turn, is why the post is right: having the right idea at the right time is important. It's just that the single idea that precipitated it all is simply not very valuable by itself.

Re: Let’s End the Myth that Ideas Are Worthless

#69
It's not ideas that are worthless; it's the 'visions'.

It might be true that a bad idea with flawless execution is just as bad as vice versa, but the thing is, too many of the self-described 'idea' people don't actually have any 'idea' of how to implement and bring their vision to life. They just want it to magically happen. Those are the people with worthless ideas, because they're not even ideas, they're just delusions of grandeur.

On the other hand, I've met my fair share of legitimate idea people who also have an idea of how to architect and implement want they want in a real, functioning web application, they just would rather have someone else, who's really into it, dig in to the nitty gritty implementation specifics (read: code) while they do the high-level technical and strategical architecting. That's totally fine, and those type of idea people are far from worthless IMO.

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