π§ learned so much from @ycombinator startup school's event today on startup ideas hosted by @snowmaker and @catheryn_li
π sharing my notes:
π sharing my notes:
@ycombinator @snowmaker @catheryn_li 1/ avoid tarpit ideas.
tarpit ideas are common pain points that have been attempted by many startups. but no one has solved.
tarpit ideas are common pain points that have been attempted by many startups. but no one has solved.
@ycombinator @snowmaker @catheryn_li 2/ don't wait for the perfect idea.
you'll never start!
be somewhere in between.
you'll never start!
be somewhere in between.
@ycombinator @snowmaker @catheryn_li 4/ there are two kinds of big markets: i) big now and ii) will be big later (e.g. growing fast)
e.g. @coinbase
e.g. @coinbase
@ycombinator @snowmaker @catheryn_li @coinbase 5/ if you have entrenched competition, you need to have a new insight
e.g. @pulley cap table management
e.g. @pulley cap table management
@ycombinator @snowmaker @catheryn_li @coinbase @pulley 6/ do you or people you know want this?
many companies start with a 'no' which means you need to talk to people!
many companies start with a 'no' which means you need to talk to people!
@ycombinator @snowmaker @catheryn_li @coinbase @pulley 7/ did this only recently become possible?
e.g. @checkr doing new background checks for delivery drivers and riders
e.g. @checkr doing new background checks for delivery drivers and riders
@ycombinator @snowmaker @catheryn_li @coinbase @pulley @checkr 8/ are there good proxies?
e.g. @RappiBrasil as a proxy for doordash but in South America
e.g. @RappiBrasil as a proxy for doordash but in South America
@ycombinator @snowmaker @catheryn_li @coinbase @pulley @checkr @RappiBrasil 9/ do you want to work on this for years?
but may not be an immediate 'yes'.
e.g. @boomaero
but may not be an immediate 'yes'.
e.g. @boomaero
@ycombinator @snowmaker @catheryn_li @coinbase @pulley @checkr @RappiBrasil @boomaero 10/ is this a good 'idea space'
an idea space is a layer of abstraction above the startup idea. a class of ideas. like food delivery services.
different idea spaces have wildly different hit rates.
an idea space is a layer of abstraction above the startup idea. a class of ideas. like food delivery services.
different idea spaces have wildly different hit rates.
@ycombinator @snowmaker @catheryn_li @coinbase @pulley @checkr @RappiBrasil @boomaero 11/ things that make startup ideas seem bad but are actually good:
hard to get started - "schlep blindess" by Paul Graham paulgraham.com - e.g. @stripe
boring space - e.g. @GustoHQ payroll software
existing competitors - e.g. @Dropbox competitors had terrible UIs
hard to get started - "schlep blindess" by Paul Graham paulgraham.com - e.g. @stripe
boring space - e.g. @GustoHQ payroll software
existing competitors - e.g. @Dropbox competitors had terrible UIs
@ycombinator @snowmaker @catheryn_li @coinbase @pulley @checkr @RappiBrasil @boomaero @stripe @GustoHQ @Dropbox 12/ full list of startup questions to ask yourself:
docs.google.com docs.google.com
docs.google.com docs.google.com
@ycombinator @snowmaker @catheryn_li @coinbase @pulley @checkr @RappiBrasil @boomaero @stripe @GustoHQ @Dropbox 13/ how to come up with ideas:
best way is to just notice them organically. most YC startups start this way. e.g. @replit
when you sit down and think about ideas, you will tend to come up with tarpit ideas.
best way is to just notice them organically. most YC startups start this way. e.g. @replit
when you sit down and think about ideas, you will tend to come up with tarpit ideas.
@ycombinator @snowmaker @catheryn_li @coinbase @pulley @checkr @RappiBrasil @boomaero @stripe @GustoHQ @Dropbox @Replit 14/ recipes for starting ideas:
ensure founder-market fit by starting with what your team is especially good at - e.g. @RentRezi @vetcove @Optimizely
ensure founder-market fit by starting with what your team is especially good at - e.g. @RentRezi @vetcove @Optimizely
@ycombinator @snowmaker @catheryn_li @coinbase @pulley @checkr @RappiBrasil @boomaero @stripe @GustoHQ @Dropbox @Replit @RentRezi @vetcove @Optimizely 15/ think of every job you've had (inc internships + life experiences)
what problems did you come across?
what did you learn that other people don't know
what problems did you come across?
what did you learn that other people don't know
@ycombinator @snowmaker @catheryn_li @coinbase @pulley @checkr @RappiBrasil @boomaero @stripe @GustoHQ @Dropbox @Replit @RentRezi @vetcove @Optimizely 16/ think of things you wish personally existed - e.g. @DoorDash
great recipe BUT most dangerous because it can lead to tarpit ideas. ask why it doesn't exist.
great recipe BUT most dangerous because it can lead to tarpit ideas. ask why it doesn't exist.
@ycombinator @snowmaker @catheryn_li @coinbase @pulley @checkr @RappiBrasil @boomaero @stripe @GustoHQ @Dropbox @Replit @RentRezi @vetcove @Optimizely @DoorDash 17/ are there things that have changed in the world recently?
e.g. @gather_town was a response to COVID for virtual hangouts
e.g. @gather_town was a response to COVID for virtual hangouts
@ycombinator @snowmaker @catheryn_li @coinbase @pulley @checkr @RappiBrasil @boomaero @stripe @GustoHQ @Dropbox @Replit @RentRezi @vetcove @Optimizely @DoorDash @gather_town 18/ look at other companies that have been successful recently and find variations
e.g. @nuvocargo is flexport for LatAm
e.g. @nuvocargo is flexport for LatAm
@ycombinator @snowmaker @catheryn_li @coinbase @pulley @checkr @RappiBrasil @boomaero @stripe @GustoHQ @Dropbox @Replit @RentRezi @vetcove @Optimizely @DoorDash @gather_town @nuvocargo 19/ ask people what problems they have
it's hard and needs a lot of skill to do this well
e.g. @atobHQ makes fuel cards for trucker drivers
it's hard and needs a lot of skill to do this well
e.g. @atobHQ makes fuel cards for trucker drivers
@ycombinator @snowmaker @catheryn_li @coinbase @pulley @checkr @RappiBrasil @boomaero @stripe @GustoHQ @Dropbox @Replit @RentRezi @vetcove @Optimizely @DoorDash @gather_town @nuvocargo @atobHQ 20/ look for big industries that seem broken
e.g. @LendUpCredit fixing pay day lending
e.g. @LendUpCredit fixing pay day lending
@ycombinator @snowmaker @catheryn_li @coinbase @pulley @checkr @RappiBrasil @boomaero @stripe @GustoHQ @Dropbox @Replit @RentRezi @vetcove @Optimizely @DoorDash @gather_town @nuvocargo @atobHQ @LendUpCredit 21/ find a co founder that has an idea
for example there are many people on YC co founder matching platform that have an idea already and need help to build it!
for example there are many people on YC co founder matching platform that have an idea already and need help to build it!
@ycombinator @snowmaker @catheryn_li @coinbase @pulley @checkr @RappiBrasil @boomaero @stripe @GustoHQ @Dropbox @Replit @RentRezi @vetcove @Optimizely @DoorDash @gather_town @nuvocargo @atobHQ @LendUpCredit 22/ the best way to know if it's a good idea is to just launch it
@ycombinator @snowmaker @catheryn_li @coinbase @pulley @checkr @RappiBrasil @boomaero @stripe @GustoHQ @Dropbox @Replit @RentRezi @vetcove @Optimizely @DoorDash @gather_town @nuvocargo @atobHQ @LendUpCredit 23/ bonus statistic: 1 out of 4 YC companies are now working on a totally different idea
@ycombinator @snowmaker @catheryn_li @coinbase @pulley @checkr @RappiBrasil @boomaero @stripe @GustoHQ @Dropbox @Replit @RentRezi @vetcove @Optimizely @DoorDash @gather_town @nuvocargo @atobHQ @LendUpCredit 24/ ππΌππΌππΌ thank you @snowmaker for sharing so much knowledge with the startup school community!
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