It took seven years, but we finally earned a $100M+ exit.
So many hard-learned lessons—hopefully sharing them here will give you an advantage.
A checklist of everything it took. 🧵
Something I've learned: You have to shamelessly self-promote. It's the only way to succeed. And if you think what you're selling is of value and good then there's nothing to be ashamed of.
The past generation of social apps won the market through a playbook:
- building big networks with feeds for discovery
- creating a followers/status competition for engagement
- bringing together creators and audiences
- monetizing with ads
- supporting photo, text, video
need a new social network with geolocation at its core
-tells me if my friends are in the area
-tells me if a friend has been to restaurants I'm going so I can ask for recs (aka a better review system)
-let's me play fun virtual games (e.g. ingress, but with good friends)
One useful trick I've learned for startups is to strongly consider features you're nearly certain your competitors cannot idealogically build but your users would love. What can you build that would probably lead to endless debate and require a sacrifice from some other business?
One huge gap in worldviews is about whether success is something awarded or something created.
One reason for this gap is that there are social universes where one or the other is almost inarguably dominant, so much so that it's difficult to understand any other way of thinking.
100% of current hospitalized Covid patients in SF are unvaccinated. This is an incredible triumph of science, and a colossal failure of the media and politicians.
Startup idea:
Uber, but 50% cheaper.
And no app.
Maybe paint the cars a bright color, and then you just flag one down when you need it?
Prototype below.
Raising $200m at a $2b valuation. DM to invest.
The most counterintuitive part of building social networks is that virtually every product decision should be to the benefit of the network, *not* the user. This is fundamentally at odds with human-centered design. For many founders, this means unlearning a lot of things.
We mistakenly sent out an empty test email to a portion of our HBO Max mailing list this evening. We apologize for the inconvenience, and as the jokes pile in, yes, it was the intern. No, really. And we’re helping them through it. ❤️