Your Idea Doesn't Matter Yet
Here's a hard truth from Max Levchin that nobody wants to hear.
Max put it this way: "Things that I found to be really compelling Investments that either work out."
Or don't but when they do work out they work out great are.
The ones where the idea is actually relatively narrow. And the entrepreneur is really.
Things that I found to be really compelling
Start Embarrassingly Small
Focused on doing something exceptionally well but they're doing this in a market.
That has just enormous potential one of my more successful Investments is Yelp.
And when those guys started they really they had all kinds of ambition..
Of my more successful Investments is Yelp and when those guys started they really
People Over Everything
The number one ambition they had at the very beginning was to just.
Make an awesome local review site for San Francisco San Francisco is.
Small Market I less than a million people stff. And at the time I.
This is the kind of insight you don't get from business books.
Make an awesome local review site for San Francisco San Francisco is
Create Something That Matters
Think a lot of my friends told me that's a wacky investment those.
Guys throw local parties they rent out bars and it's always going.
Be locked land locked in San Francisco and I didn't really mind. That although.
This is the kind of insight you don't get from business books.
Always going to be locked land locked in San Francisco and I didn't really
Where the Opportunity Lives
I did have my concerns and five years later they are an international.
Juggernaut just nailing it with their local review service they've were able.
Figure out the exact formula in San Francisco and replicated it everywhere else in.
If you're building something, this should hit hard.
Juggernaut just nailing it with their local review service they've were able
The Takeaway
That's the whole game. Max just gave you the blueprint.
The world