My kids are always coming up with startup ideas. I decided the 10 yo is now old enough to hear the truth: if you want to start a startup, the thing to be doing at 10 is learning the things that will enable you to have good startup ideas at 20. How to program especially.
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...there's also the power of having a great network and connections, wealthy friends and family, great education and time/opportunity to bootstrap - ask Theranos. If you're going to reveal that Santa Claus and the Easter Bunny aren't real, you might as well go all the way....
If I told them that wealth and connections were the key to success as a founder, I'd be misleading them. The key is to make something lots of people want. Wealth and connections can't buy you satisfied users.
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Truth! Wealth and connection do follow vision and something people want
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Definitely network is not the most important thing - a solid business model is key but as competitive advantages go in 2 equal companies with the same business model - the one with better connections and funding will trump the other-else we wouldn’t need a
@ycombinator
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“Wealth & connections” not the only key - having a good sustainable business model is definitely a key factor - and high customer satisfaction eventually helps past ur MVP - but saying “w&c” doesn’t play a part would be disingenuous - else why incubators like
@ycombinator ? -
After all, incubators connect entrepreneurs to capital syndicates and influential investors that can help speed up customer adoption and growth. If your family and/or friends have money and/or network, you probably don’t need an incubator nor venture - because you can...
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I politely disagree: opportunity is unevenly distributed by birth, because of wealth and connection being unevenly distributed.
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