

Tech changes and the entrepreneur: How to keep up - dennykmiu
http://entrepreneur.venturebeat.com/2010/01/15/tech-changes-and-the-entrepreneur-how-to-keep-up/

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dennykmiu
The video is dated but still worth watching, especially the end. The point is,
How do you know if you have an idea good enough for a startup? I had done two
startups in the last fifteen years. The first one everyone thought it was a
great idea, especially the VC's. It required tremendous amount of capital and
I was able to secure $65M of VC funding. However, as with most startups in the
late-90's, we crashed-and-burned when the last bubble bursted. My second
company is completely bootstrapped. The VC's thought it was a terrible idea
but fortunately most customers we talked to thought otherwise. After we became
profitable, the VC's were kicking down our door wanting to buy a piece of the
action. I took the opportunity to start my early retirement (before the bubble
bursted in 2007). Lesson learned: listen to Paul Graham but kick it up a
notch. Don't just build something someone wants and don't build something
someone willing to invest, instead build something someone willing to buy.
Good luck, everyone.

