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AustenAllred's profile
Austen Allred
Austen Allred
Austen Allred
Verified account
@AustenAllred

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Austen AllredVerified account

@AustenAllred

CEO @LambdaSchool (YC S17): A CS education that's free until you get a job. I have made remarks that I do not agree with.

San Francisco, CA
lambdaschool.com
Joined December 2010

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    Austen Allred‏Verified account @AustenAllred 17 Dec 2017

    Seed stage VCs stress waaaaay too much about competition. Most markets are enormous and not winner-take-all.

    9:31 AM - 17 Dec 2017
    • 20 Retweets
    • 117 Likes
    • Salina Mendoza Jake Chapman Ace Callwood 🤖 Sonya Mann 🎀 priya joseph Stefan Ruijsenaars Sarah Cone Charles Ademola Aashish Nagpal
    8 replies 20 retweets 117 likes
      1. New conversation
      2. Austen Allred‏Verified account @AustenAllred 17 Dec 2017

        One VC asked us to fill out a four page “competitive analysis” on how we would stack up against a competitor. We’re already bigger than them and it’s been four months.

        8 replies 2 retweets 30 likes
        Show this thread
      3. Austen Allred‏Verified account @AustenAllred 17 Dec 2017

        My favorite story is from a friend. Got an email that just said, “Aren’t there already other startups like [company] dominating the insurance space?” Insurance. A multi-trillion dollar market.

        3 replies 3 retweets 32 likes
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      4. End of conversation
      1. Austen Allred‏Verified account @AustenAllred 17 Dec 2017

        That said, competing in markets where competitors don’t really get tech at all is a good time all around

        0 replies 1 retweet 18 likes
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      1. New conversation
      2. Ace Callwood‏ @acecallwood 17 Dec 2017
        Replying to @AustenAllred

        It's not only about startup-on-startup crime, either. David vs Goliath is def a reoccurring theme. "What stops [insert Fortune 500 here] from doing this?" Uhh...literally nothing does. But, they're slow, the pie is big, and there's plenty to go around. Can I build stuff now?

        1 reply 0 retweets 10 likes
      3. Craig J. Lewis‏ @CraigJamalLewis 17 Dec 2017
        Replying to @acecallwood @AustenAllred

        The Classic... what stops Google from doing this? And then how will you compete? 🙄 Well, Google has Google Ventures and Google Capital but you and your firm seem to still be eating in these streets!!! ijs 😎

        0 replies 0 retweets 8 likes
      4. End of conversation
      1. Ideafarms‏ @Ideafarms 17 Dec 2017
        Replying to @AustenAllred

        How come the smarties don't get it???

        0 replies 1 retweet 1 like
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      1. Ashutosh‏ @ashu_trv 18 Dec 2017
        Replying to @AustenAllred

        The most stupid question is - Why wouldn't another startup build something similar in future. I find it disrespectful of my team.

        0 replies 0 retweets 2 likes
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      1. Salina Mendoza‏ @inababi 17 Dec 2017
        Replying to @AustenAllred

        🙌🙌🙌 just said this in my meeting the other day. Competition is great. There's plenty of room for all of us to win.

        0 replies 0 retweets 1 like
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      1. Taylor McGann‏ @mtmcgann 18 Dec 2017
        Replying to @AustenAllred

        Is it maybe not because they doubt you could make a profit or be successful in general but because they are looking for “grand slams” so they can get their ROI? Isn’t their goal to only bet on grand slams? Then again maybe intense focus on competition is what’s silly.

        0 replies 0 retweets 0 likes
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      1. Asante Tladi‏ @Noceur_T 17 Dec 2017
        Replying to @AustenAllred

        you have said mouthful 🙂

        0 replies 0 retweets 0 likes
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