Why do you build a new service when XYZ is already well established in the same space? Because a big market is already proven to be there and you can make a difference when you build a better solution for customers. Just a few quick examples: Pulley (vs Carta) and Beehiiv (vs Substack). Pulley is … Continue reading New Player In A Proven Market
It might be just a pure coincidence that Warren Buffett (93 years old) and Charlie Munger (99 years old) have been working together in the same partnership for a long time and living a very long life, on what often doesn’t seem like particularly healthy diet. Or, there might be at least some correlation between … Continue reading Do What You Enjoy
A few quick points about coming up with startup ideas from my experience (I’m still learning about this as I go): 1/ Start with proven, well-known frameworks — there’s a reason why things like Ikigai are considered as a useful framework by many folks (i.e. finding overlapping areas among what you’re good at and enjoy, … Continue reading Startup Ideas
Upskilling is one of the most important mega-trends now. AI won’t remove all humans jobs, but it will remove A LOT of jobs in the short term. If your job is, for instance, reviewing historical records or comparing many documents or images, it’s a pretty safe bet your job will be replaced with AI within … Continue reading Upskilling
If you’re building a content platform, you MUST have exclusive content – the kind of content people can only find on your platform. You can have non-exclusive content as well, but those are “shelf space fillers”; at the end of the day, people need a reason to go to your platform, download your app, etc. … Continue reading How To Get Exclusive Content
I’m concerned about the long term effect of TikTok and Temu. They’re different (one is social media, the other is e-commerce). But they have more similarities than differences. Both apps are loved by the GenZ/Alpha. Both are Chinese-owned apps. But most importantly, both apps are little dopamine machines, turning people into scrolling/tapping chimpanzees, disguised under … Continue reading On Dopamine-inducing Apps
A very successful real estate agent in the SF bay area told me his story one day. He hustled his way into the top success in his 30’s and 40’s. He out-hustled everybody and secured best deals using sharp elbows. He became more successful than he had ever imagined when he started out. Towards the … Continue reading Be A Private Giver
On how to find a cofounder: 1/ Basically all dating/marriage analogies apply here, so go back and refresh your memory 🙂 2/ Your search would involve two buckets of people: those who are already in your rolodex (e.g. people you have worked with) and those who are not (new people). Depending on your past career … Continue reading How To Find A Cofounder
A few things you’re not supposed to say during VC pitch meetings 🙂 1/ “No rush! Take your time, review our materials, and let us know” – You should have a firm (and ideally, short) window and clearly communicate it 2/ “It’s now or never – this round will be filled very quickly” – No … Continue reading Don’t Say These During Pitch Meetings
Ideally, entrepreneurs can plan their fundraising in what I call “2+2+2 fundraising”: 2 years – Build relationships with investors. Doesn’t have to be 2 years; can be 6 months, or 4 months, whatever. The point is, it takes a long time to build a good relationship, and the best time to build a relationship with … Continue reading 2+2+2 Fundraising