Innovation Starts With Toys
We’ve all heard people make arguments about new products that feel like toys. I’m sure I’ve done it myself under my breath from time to time - especially if I’ve based my opinion on just a 500 word blog write up. But I think the first step to internet adoption is play.
First time users are hardly getting much value from a consumer service on day-one, so they need some time to play around.
Don’t be afraid to invent toys for play.
“If I get a cup of tea, it’s a cup of tea — there isn’t a chance that it’s actually made out of solid gold. But that’s how this works.”
YC’s Paul Buchheit explaining why the public doesn’t understand startup economics. (via parislemon)
The general public understands risk/reward. What “they” don’t understand is why a few intellectuals decide to bet hundreds of millions of institutional dollars on mostly passion projects with no business models… VC as an industry is like the US congress - massively powerful and mostly dysfunctional & ineffective.