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Successful startups present with the following: - Earned secret: some insight that the founder has that no one else has that unlocks a giant market that was EARNED through tough real life experience. For example Brian Cheskey's decision to put an air mattress in his room on CL.
- Why now inflection point: you need to time the technology curve just right. For example, you couldn't build Lyft on 2006 Blackberry's. You needed to have just enough iphone style touch phone market penetration to get it to work.
- Idea maze (apparently from @balajis (before he got famous for covid (respect)!): The founder needs to have a map of every previous way the idea has been tried before and why it failed. I would personally add the founder needs to have every way their version could as well.
- Orthogonal asymmetric attack: I learned about this in a podcast with Hamilton Helmer. It's okay to operate around or adjacent to a big powerful incumbent but you must set up your business model such that it is orthogonal to theirs or at least such that they let you have that
market...until it is too late. Maples gives two examples, Google vs. Microsoft and the Telephone vs. the Telegraph. Originally, Google was just a search engine but ended up releasing all the things Microsoft did (chrome OS, google sheets, docs, storage in the cloud) in an
orthogonal way, such that it was difficult for Microsoft to leverage their huge powers to stop them. For the telephone, Graham's original invention could only reach distanes of 250 feet, when a telegram was global. Graham quietly worked on his invention improving it until
boom! It was too late and Graham's telephone was able to overtake the telegram. Maples also talks about avoiding your enemy's value network and cites Southwest's decision to operate our of Love field as opposed to AA's hub at DFW.
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