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Billion Dollar Startup Ideas [video]

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Re: Billion Dollar Startup Ideas [video]

#21

The internet is rife with blogs (and now podcasts) about what can be a billion dollar startup ideas. It just depends on where someone sees an opportunity and exploits it. (not as easy, but thats about the crux of it) I wanted to touch upon the other thing Garry Tan mentioned when he said that reason people try the same ideas is because "desire is mimetic". We want what other people want. Same ideas especially ones wh…

> Most of these ideas fold because travel is very cold market for an investor and most dont want to invest.

This isn't true. For example, AirBnB has plenty of funding.

Investors as the constraint currently happens for capital-intensive opportunities, like nuclear fusion. There's plenty of investors for software as a service.

There are lots of other reasons why there aren't more "apps for x." The main barrier for any app is that it has to improve on the alternative. In this case, tech services like AirBnB and TripAdvisor are competing with DIY search, or simply talking to a friend or travel consultant and having a human conversation.

Re: Billion Dollar Startup Ideas [video]

#22

Earlier quoted context omitted.

All this hoo haa about startup ideas - Just make products that excel at every aspect of what it does and make sure there is a demand for such a product. I see people making a better soap dispenser, the hardware equivalent of what most SaaS startups are working on. You need to invent a new kind of soap that is better than anything else out there. It should take the grime off of everything from kitchen to bathroom scum…

At the same time, selling ordinary things in a better way has also built many fortunes. I know several self-made people running ecommerce businesses in the most mundane spaces. There's plenty of opportunity everywhere.

List some examples.

Re: Billion Dollar Startup Ideas [video]

#24
post #18

https://youtu.be/3YKNr-LiblI?t=212 i guess he never heard of ebay. patreon is just paypal donation button but they take a bigger cut and have developed a habit of terminating creators from the service for vague TOS violations When he says that a company is worth 1 billon or 3 billon etc. , this is based on the last funding round in a very illiquid market. The collapse of wework shows that these purportedly large numb…

Hacker News sure has changed into Slashdot 2.0 when this kind of shallow dismissivemess is so common.

The comment rating on Slashdot is better. You can mark comments as funny or insightful.

HN readers tend to have a single linear viewpoint, and if you dissent from that angle, then you get downvoted to oblivion, or worse, flagged, even if you may have a valid viewpoint.

Edit: And I just got downvoted. So this proves my point.

Re: Billion Dollar Startup Ideas [video]

#25

Earlier quoted context omitted.

At the same time, selling ordinary things in a better way has also built many fortunes. I know several self-made people running ecommerce businesses in the most mundane spaces. There's plenty of opportunity everywhere.

List some examples.

https://www.indiehackers.com/products

Re: Billion Dollar Startup Ideas [video]

#26

Earlier quoted context omitted.

All this hoo haa about startup ideas - Just make products that excel at every aspect of what it does and make sure there is a demand for such a product. I see people making a better soap dispenser, the hardware equivalent of what most SaaS startups are working on. You need to invent a new kind of soap that is better than anything else out there. It should take the grime off of everything from kitchen to bathroom scum…

Method soap is the example of a better soap dispenser like you say. It doesn't work on everything but it had the uniqueness that it was made with natural ingredients, so much that you could drink it, which the founders did to demonstrate that fact.

I never heard of Method Soap before now, but that pitch just makes me want it. Good example!

Re: Billion Dollar Startup Ideas [video]

#27
post #26

Earlier quoted context omitted.

Method soap is the example of a better soap dispenser like you say. It doesn't work on everything but it had the uniqueness that it was made with natural ingredients, so much that you could drink it, which the founders did to demonstrate that fact.

I never heard of Method Soap before now, but that pitch just makes me want it. Good example!

You should check out the How I Built This podcast, it has an episode about Method. Great story.

Re: Billion Dollar Startup Ideas [video]

#28
post #17

Haven't watched the whole thing yet, but I will push back on some of the popular mythology that everyone thought successful startups we're just toys or would fail in their early days. IMO that's mostly bullshit. Amazon, Google, Uber, Facebook (despite some cherry picked article from the video about it never being able to hit profitability) were all hugely popular right off the bat, and indeed, many people saw them as…

MySpace was massive when Facebook was a year or two old. I had accounts on both and MySpace looked way more attractive compared to FB (it had the feel of Instagram). So no, FB did not take over overnight. And even a few years into FB, no one (yes, no one) knew that FB will go past MySpace and there will simply be no comparison between the two 10 or 15 years down the road. When FB took over MySpace a full FOUR years i…

You must have had a very different experience if you think 'MySpace looked way more attractive compared to FB'.... MySpace pages were ugly as hell, with tiled backgrounds, autoplay music, and mismatched themes. Facebook was CLEAN, and everyone's page looked uniform and consistently styled. This lack of customization, I think, is what made it become so popular. That, and the feed; myspace never had the concept of taking posts from all your friends and putting them into a list that you could scroll through. You had to visit each page to see what was on it, and that meant seeing the horrible styling and autoplay music.

Re: Billion Dollar Startup Ideas [video]

#29
I'd like to offer a counterpoint to starting a billion dollar startup, instead of trying your best to be a billionaire - you can pursue multiple small bets that can pay you better than your current full time job. That way you don't have to sacrifice your interests for financial independence.

I spent the last 2 years working on a research heavy startup that I felt would change game development forever, it was hard from an engineering, research, marketing and sales standpoint.

Late into the second year I started to feel burnt out and decided instead to write a robotics textbook which got way more attention to both myself and my project in about 2 months worth of work than 2 years did. This then got me to take Twitter a bit more seriously in terms of making friends, peers that I can easily see turn into collaborators or customers in the future. Sort of an audience first approach as opposed to product first approach. Tools like Twitter, Medium and Substack make this approach a lot more feasible today.

I even remember having a sort of disdain for freelancing because I thought it didn't scale whereas if I did pursue it more seriously I'd imagine I'd have had more direct solo enterprise sales experience, met more clients, figured out what their problems were and solving them instead of imagining an ideal where game developers would solve their problems like I wanted them to. Seeing my savings decrease every month took a mental toll on me, I figured there would be a light at the end of the tunnel and I essentially feel like I miscalibrated my goals. Instead of trying to build a billion dollar startup, I should have spent more time figuring out how to never need a job ever again.

The benefits of the multiple small bets approach is that when you're wrong it doesn't cost you 2 years of your life, you're less fragile to sudden decreases in income from one small bet, you don't have a boss, pandemics don't affect you, you choose your peers and hours etc.. Making your first few dollars online (not from a paycheck) changes you, makes a you a lot better at pursuing opportunities when they happen.

After COVID hit I started looking for a job again and my interviewing experience was very interesting to say the least. I described very honestly my failures and startups loved my story and appreciated my openness - bigger companies on the other hand essentially told me that well your startup didn't work out so you must be lazy and dumb. The outcome is what determines if I'm a good founder or not but it was really painful being lectured by people who had never taken a risk in their lives.

I see so many founders dreaming of huge companies going towards IPO when I can see solo founder companies being a lot happier if they pursued multiple small bets instead. You can't hedge your life over multiple billion dollar startups with a 1% chance of working out but you can certainly hedge it over multiple small bets each with a 10-30% chance of success. What's good for the aggregate or society isn't necessarily what is best for you.

Re: Billion Dollar Startup Ideas [video]

#30
post #17

Earlier quoted context omitted.

MySpace was massive when Facebook was a year or two old. I had accounts on both and MySpace looked way more attractive compared to FB (it had the feel of Instagram). So no, FB did not take over overnight. And even a few years into FB, no one (yes, no one) knew that FB will go past MySpace and there will simply be no comparison between the two 10 or 15 years down the road. When FB took over MySpace a full FOUR years i…

You must have had a very different experience if you think 'MySpace looked way more attractive compared to FB'.... MySpace pages were ugly as hell, with tiled backgrounds, autoplay music, and mismatched themes. Facebook was CLEAN, and everyone's page looked uniform and consistently styled. This lack of customization, I think, is what made it become so popular. That, and the feed; myspace never had the concept of taki…

That helped but FB was exclusive to universities at first. So everyone wanted in.
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