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Want to start a startup? Get funded by Y Combinator. March This essay is derived from a talk at the Harvard Computer Society.
You need three things to create a successful startup: Most startups that fail do it because they fail at one of these. A startup that does all three will probably succeed. And since a startup that succeeds ordinarily makes its founders rich, that implies getting rich is doable too.
There is no magically difficult step that requires brilliance to solve. The way a startup makes money is to offer people better technology than they have now. They had three new ideas: Above all, they were determined to make a site that was good to use.
No doubt there are great technical tricks within Google, but the overall plan was straightforward. And while they probably have bigger ambitions now, this alone brings them a billion dollars a year. I can think of several heuristics for generating ideas for startups, but most reduce to this: For example, dating sites currently suck far worse than search did before Google.
They all use the same simple-minded model. They seem to have approached the problem by thinking about how to do database matches instead of how dating works in the real world. An undergrad could build something better as a class project.
Online dating is a valuable business now, and it might be worth a hundred times as much if it worked. An idea for a startup, however, is only a beginning. A lot of would-be startup founders think the key to the whole process is the initial idea, and from that point all you have to do is execute.
Venture capitalists know better. That shows how much a mere idea is worth.
The market price is less than the inconvenience of signing an NDA. Another sign of how little the initial idea is worth is the number of startups that change their plan en route. Their value is mainly as starting points: What matters is not ideas, but the people who have them.Find the latest business news on Wall Street, jobs and the economy, the housing market, personal finance and money investments and much more on ABC News.
Everyone knows the big companies, but what startups should you watch? Today's small startup could be tomorrow's technology giant. What is an Engineering Manager?
October 31, David Ives, Engineering Manager at Pusher has held many titles in the tech industry: Engineer, Lead Engineer, Head .
The Laurel & Wolf team Facebook/Laurel & Wolf is almost here and it's once again time to predict which startups will take the tech industry by storm.. Who better to ask than the startup. Already, startups like AppDynamics and Snapchat have filed to go public in the new year.
And our sources tell us there are many more in the pipeline. Here's a look at which tech startups are IPO. Fortune Daily & Breaking Business News. Sign up now to receive FORTUNE's best content, special offers, and much more.