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Why Startups Like Uber, Airbnb, and SpaceX Succeed, While Others Fail | Singularity HUB

Why Startups Like Uber, Airbnb, and SpaceX Succeed, While Others Fail | Singularity HUB | Pitch it! | Scoop.it

http://snip.ly/5kaF

What's most important for the success of your project? Is it the team? Funding? Timing? Idea? Business model? Recently I heard Bill Gross, one of of the most brilliant entrepreneurs of this century, offer a compelling answer—one that changes my views on the formula for success.

This blog is a summary of Bill Gross's excellent talk.

5 Key Success Factors

Bill investigated how 5 key factors affected the success of the 125 companies in his portfolio at Idealab and 125 companies outside of his portfolio.

The factors he considered were:

  1. The Idea: How new is it? Is there a unique truth in the idea? Are there competitive moats you can build around it?
  2. The Team and the Execution: How efficient is the team? How effective is it? How adaptable?
  3. The Business Model: Do you have a clear path to revenues?
  4. The Funding: Can companies that can out money-raise others succeed where the others would fail?
  5. The Timing: Are you too early? Just early? Too late. Right on time? Did that matter a lot?

Of these 250 companies, Bill picked 10 in each category: five companies that turned into billion-dollar companies, and five that everyone thought would be billion-dollar companies but failed.

The question: Which variables accounted more for successes?

Read more here: http://snip.ly/5kaF





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Robert

Marc Kneepkens's insight:

Timing is important. Essential though is execution and the team. You can have the greatest idea or plan, you still need to make it happen.

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'Don't F@#k Up the Culture.' Why you should never sacrifice culture for growth:

'Don't F@#k Up the Culture.' Why you should never sacrifice culture for growth: | Pitch it! | Scoop.it
This was VC Peter Thiel's one piece of advice to Airbnb after investing $150 million in the startup. Here's why he was right on.

This was a pretty great week. It may have had something to do with the fact that I got to walk along this beach at lunch, but mostly I think it was what I read in this Medium piece by Airbnb co-founder Brian Chesky. The story is actually a staff note he made public because he thought it might be helpful to other entrepreneurs.

That makes him a nice guy, but it's not what made my day. The following did; it's a conversation Chesky had with venture capitalist Peter Thiel:

Midway through the conversation, I asked him what was the single most important piece of advice he had for us. He replied, "Don't f@#k up the culture." This wasn't what we were expecting from someone who just gave us $150M. I asked him to elaborate on this. He said one of the reasons he invested in us was our culture. But he had a somewhat cynical view that it was practically inevitable once a company gets to a certain size to "f@#k it up."

To read the full article, click on the title or image.



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Marc Kneepkens's insight:

Stay true to yourself, in other words. Peter Thiel invested in a company that is different. That's where he saw value, and that's his advice.

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