I don't understand this part: "For founders who are younger or more ambitious the utility function is flatter." Does flat mean O(1) or O($)? I'd guess the former, but the latter seems to fit more with the conclusion.
Startup = Growth
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Re: Startup = Growth
#22What about in my case, where I run a free service that currently has served over 9.3 million requests in the last month? (That service is http://jsonip.com)
Its a utility service that a lot of people are finding useful and has a lot of traction, but no way that I can see to monetize it. Not even sure I have a desire to try and monetize it, since it costs me almost nothing to run.
I would love to be able to build that resource into something more, but I'm not even sure where to start. It has a lot of usage and growth, but its not something I would remotely call a startup.
I made a short post a few hours ago about the current state: http://news.ycombinator.com/edit?id=4556711
Re: Startup = Growth
#23One of my favorite pg essays of all time. Loved this: "Almost every company needs some amount of funding to get started. But startups often raise money even when they are or could be profitable. It might seem foolish to sell stock in a profitable company for less than you think it will later be worth, but it's no more foolish than buying insurance. Fundamentally that's how the most successful startups view fundraisin…
One of my favorite pg essays of all time.
Same here. I figured out that one can turn into an optimization problem her user satisfaction and that it was key to get a successful product and then key for the company, but it's even funnier: can be turned into an optimization problem the whole process of founding a company.
Definitely awesome.
Re: Startup = Growth
#24"It's the same with other high-beta vocations, like being an actor or a novelist. I've long since gotten used to it. But it seems to bother a lot of people, particularly those who've started ordinary businesses. Many are annoyed that these so-called startups get all the attention, when hardly any of them will amount to anything."
I see so many comments on HN poking fun at VC backed startups with underdeveloped business models. Sure, a lot of the criticisms are well deserved, but I wonder if a part of it is because people are bothered by the power law phenomenon.
Re: Startup = Growth
#25One of my favorite pg essays of all time. Loved this: "Almost every company needs some amount of funding to get started. But startups often raise money even when they are or could be profitable. It might seem foolish to sell stock in a profitable company for less than you think it will later be worth, but it's no more foolish than buying insurance. Fundamentally that's how the most successful startups view fundraisin…
This is a tough sell to young entrepreneurs. Its hard for them to understand that buy giving away some portion now will make their equity more valuable when they are able to scale to mass market.
Re: Startup = Growth
#26But at the moment when successful startups get started, much of the innovation is unconscious.
-- This is an interesting bit. The notion of what is intelligence.
At any given time, there are 1001 questions that may be [intelligent]. But ask right question, and the answer is often [easy] to see. So Framing. Observation. Caring. Passion. Perserverence. Non-ovious. Yet invaluable. Forms of intelligence.
Re: Startup = Growth
#27What about in my case, where I run a free service that currently has served over 9.3 million requests in the last month? (That service is http://jsonip.com ) Its a utility service that a lot of people are finding useful and has a lot of traction, but no way that I can see to monetize it. Not even sure I have a desire to try and monetize it, since it costs me almost nothing to run. I would love to be able to build tha…
Serving 9.3M requests is impressive and if you are looking to build it into something more, have you tried getting some feedback from users? What is the reason they are using your service? I think in general, one of many ways the growth can be actualized is via feedback from those who is actually using the product/service.
Re: Startup = Growth
#28"the same thing that makes" -> "the same thing makes"
Re: Startup = Growth
#29spellcheck: abolute
My favorites were the last paragraph and the last footnote.
How did those Russians get on anyway?
The only other thing I would add is that these high growth companies, so-called startups, are all utilizing the web. They are relying on what it provides. I guess that's implicit, maybe it need not be stated, but historically could older forms of media have supported the type of growth rates discussed? How popular was the term "startup" before the web? And did it mean the same thing?
The startup: 1. Trying to solve a harder problem than existing businesses are willing to take on. 2. Being equipped for rapid growth. 3. Utilizing the web.
Re: Startup = Growth
#30If you write software to teach Tibetan to Hungarian speakers, you'll be able to reach most of the people who want it, but there won't be many of them. It may not scale, but the chances of it making (any/more) money are much higher ("riches are in the niches") than a "fast startup" as it's very rare for a startup to grow fast and monetize quickly at the same time, because most people just won't buy immediately, someti…
It may not scale, but the chances of it making (any/more) money are much higher ("riches are in the niches") than a "fast startup" as it's very rare for a startup to grow fast and monetize quickly at the same time, because most people just won't buy immediately, sometimes even if it solves a problem for them.