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LeBron James says he turned down a $15,000,000 endorsement contract renewal from McDonald’s to pursue equity and franchise ownership in Blaze Pizza “It was a great partnership with McDonald’s. We did some great things on television. We did some great things over the years. But I remember we went...

79,111 次观看 • 8 天前 •via X (Twitter)

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Evan Spiegel on the lesson that killed his first startup and led to Snapchat: "We focused on building the perfect product for way too long before we got feedback. We worked for like eighteen months to build this perfect full-featured product, which was in direct contravention to how I was always taught to build things. Build a prototype, build an MVP, get it in front of people, learn as quickly as possible. But we had spent all this time building this perfect piece of software and we hadn't thought enough about distribution. While we built this great piece of software, our competitor at the time, Naviance, had secured distribution through all the different college counselors. What piece of software are you going to choose to help your kid get into college? The one recommended by the college counselors or the one from two kids at Stanford? I think it's a pretty easy choice. So we saw very early that we had no distribution advantage. Even if we loved our software, people weren't going to use it because we didn't have a scalable way to get it in people's hands. Around that time when we saw the emergence of the App Store on iPhone, it was very clear that was a distribution channel we could really use and benefit from. But we also needed to build things we could build quickly, things we really were going to use together with our friends so we could be the first early customers. Ultimately Peekaboo and Snapchat represented that." This is exactly the asymmetry Peter Thiel describes in Zero to One: superior distribution by itself can create a monopoly, even with no product differentiation. The converse is not true. Thiel puts an even finer point on it: most businesses get zero distribution channels to work. Poor sales rather than bad product is the most common cause of failure. If you can get just one distribution channel to work, you have a great business. Estée Lauder said: it's not enough to have the most wonderful product in the world. You must be able to sell it. Many founders over-index on product perfection and under-invest in distribution. The world is full of great products nobody knows about, and mediocre products with massive distribution that dominate markets. Evan Spiegel lived it. He built the better product, watched it lose, and then built something he could actually distribute.

David Senra

27,043 次观看 • 4 个月前

James Currier on how he grew a photo sharing site to 47 million users in 6 months “Most product people start by saying, ‘There’s a problem and we’re going to build a product that’s going to solve that problem. Then we’re going to market it,” NFX founder James Currier observes. Of the 45 companies James has spoken to in the last 18 months, at least 40 of them have said some version of this. “I was also taught this back in the 1990s,” James says. “But through experimentation, I’ve realized that this is actually the wrong way to look at it. The right way to look at it — if you want to grow your business — is to ask, ‘What is the language? How am I going to market this?’ . . . Figure out what the language is and then build the product to fit what the language is.” James gives the example of a photo sharing site he launched years ago: “It said ‘Store your Photos’ on the homepage, and we were not growing. So one day, we literally just changed the homepage to say ‘Share your Photos.’ The team that was working on it said, ‘Our site doesn’t actually share photos. It just stores the photos.’ I said, ‘Well, fix that.’ What ended up happening was they started building features that allowed people to share their photos, and we registered 47 million people in 6 months. And that was back when the Internet was 250 million people.” He continues: “What we realized was that by changing the language, you change how the users are interacting with your site. And you also change your thinking about the product so that the features and subsequent language in the product actually fits with the main value proposition.” James gives another example: “We had a matchmaking site, and the promise there was ‘Find a date.’ It wasn’t growing and we had to buy all this traffic from Google and elsewhere to keep the whole thing going. So what we did was we changed the language and the value proposition to say, ‘Help people find a date.’ When we did that, we registered 28 million people in about 9 months, virally with no cost to us. We changed the language, and then we changed the product subsequently.” Video source: Greylock Partners (2016)

Startup Archive

18,388 次观看 • 8 个月前

Sergey Brin on AI and Jeff Dean back in December when Gemini peaked: “I would say in some ways we for sure messed up in that we underinvested and sort of didn't take it as seriously as we should have, say, eight years ago when we published the Transformer paper. We actually didn't take it all that seriously and didn't necessarily invest in scaling the compute. And also we were too scared to bring it to people because chatbots say dumb things. And, you know, OpenAI ran with it, which is good for them. It was a super smart insight, and it was also our people like Ilya who went there to do that. But I do think we still have benefited from that long history. So we had a lot of the research and development of neural networks kind of going back to Google Brain. That was also kind of lucky. It wasn't luck that we hired Jeff Dean. I mean, we were lucky to get him. But we were in this sort of mindset that deep technical things matter. And so we hired him. We hired a lot of people from DEC, honestly, because they had the top research labs at the time. But he [Jeff Dean] was passionate about neural networks. And it stemmed, I think, from actually his college experiment. I don't know. He was like, whatever, curing third world disease and figuring out neural networks when he was like 16. He's done crazy things. But he was passionate about it. He built up a whole effort. And actually in my division at the time in Google X. We had him but I didn't I was like okay Jeff you do whatever you want. He's like oh we can tell cats from dogs. I'm like oh okay cool. But you know, you also trust your technical people and soon enough they were developing all these algorithms these neural nets that were doing some of our search. And then, you know, Noam came up with a transformer and we were able to do more and more. But yeah, I mean, so we had the underpinnings, we had the R&D. We did underinvest for a number of years and didn't take it as seriously as we should have.” Both Jeff Dean and Noam Shazeer left Google in the past two months.

tae kim

247,281 次观看 • 5 天前

"Every team wants to win a championship, but not every team wants to do the things required for a championship. And here's the thing: it's easy to be an average team. It doesn't require a lot. It's less adversity to be average in the world. The consequences of being average aren't easy. We end up wearing them. There's strain and struggle that comes with that too. The standard is just lower to be an average team. To be a championship team, to be champion, to be a championship team member here . . . I'm not gonna lie to you . . . I'm going to tell you the truth. It is harder. It is. The question is: Is it worth it? Some people say, "Oh it's not harder work." Yes it is. It's harder work. You can pursue comfort or you can pursue excellence. If we pursue comfort, we gotta give up some excellence. But if we pursue excellence, then we're just going to face more adversity. Everyone who's ever accomplished something excellence has had to overcome it. We are here today for a reason. Two reasons actually. Reason #1 is let's make sure that we identify and realize the opportunities that are in front of us. Reason #2 is let's make sure that we are preparing for the adversity that those opportunities require. And just understand: every single time you lever up your opportunities and you identify, "Oh there's something more I can do, more I can achieve. I can get better. I can earn more. I can do this." It's going to be matched with the adversity that comes with it. I want to make sure we are prepared for both of those, so that we're not chasing big opportunities and then getting mad when things start getting harder along the way. Is that fair? Does that make sense?"

Brian Kight

125,742 次观看 • 2 年前