Before AirBnB, folks paid money to stay at hotels, B&Bs, cottages, vacation homes, and hostels.
Annually, people spend $570 BILLION on travel accommodation.
If folks aren’t already buying what you’re thinking of selling, don’t start that business!
Before AirBnB, folks paid money to stay at hotels, B&Bs, cottages, vacation homes, and hostels.
Annually, people spend $570 BILLION on travel accommodation.
“Where is it already being spent, and how can I get a piece of it?”
Look for categories where people/businesses are already spending money.
From an entrepreneur’s POV, if folks are willing to spend money on it, it’s a problem worth solving.
They didn’t make the first:
- PC
- Laptop
- MP3 player
- Smart phone
They saw the existing demand, and built on it.
Tesla, Microsoft, Apple, and Amazon all entered existing categories where folks were already spending money.
They rode a rising tide; they didn’t create the wave. 🏄♂️
There are other indicators that can show you whether a market is worth pursuing.
(However, existing purchasing behavior is probably the safest.)
https://t.co/Vv3ZWS0Ghp
At FeedbackPanda, we solved the critical problem, not just any \u201cproblems that needs solving\u201d.
— Arvid Kahl (@arvidkahl) October 24, 2019
They started paying where they had not paid before & had their own free manual solutions in place.
How about \u201cfind where people are spending money or have ugly self-built workarounds\u201d?
If you want to start a business based on your gut, go ahead! 😜
But if you want to reduce your risk, look for existing demand in your segment (or in a parallel category).
More from Startups
The Beatles wrote “Yesterday” in less than a minute.
Led Zeppelin wrote “Rock And Roll” in 30 minutes.
The White Stripes, “Seven Nation Army”, 10 min during a soundcheck.
The Rolling Stones, “I Can’t Get No Satisfaction”, 40min.
Making a startup in 24 hours is perfectly fine.
I worked on my first startup for 2.5years. It was an events app. Sunk in cost and expectations were so high, that I had to close it, despite getting consistent revenue.
In comparison, I wrote @CryptoJobsList in 2 days. And it's way more meaningful than what I've been doing in my events startup for 2.5 years.
When I let go of my engineering ego and let go of expectations that I need to raise capital and hustle for 4+ years — I started lauching fast and interating fast without any expectations — then I started coming up with something truly meaningful and useful ✨
12 startups in 12 months by @levelsio
24 hour startup by @thepatwalls
— are great challenges that make you focus on the end product value, iterate fast and see what sticks and ruthlessly kill what does not work.
Led Zeppelin wrote “Rock And Roll” in 30 minutes.
The White Stripes, “Seven Nation Army”, 10 min during a soundcheck.
The Rolling Stones, “I Can’t Get No Satisfaction”, 40min.
Making a startup in 24 hours is perfectly fine.
I really think this idea of starting a starup in 24 hours is bad idea. Gives people thinking that you can do something meaningful in short period of time. https://t.co/l3x2ov33Qn
— Myk Pono \U0001f60e (@myxys) November 10, 2018
I worked on my first startup for 2.5years. It was an events app. Sunk in cost and expectations were so high, that I had to close it, despite getting consistent revenue.
In comparison, I wrote @CryptoJobsList in 2 days. And it's way more meaningful than what I've been doing in my events startup for 2.5 years.
When I let go of my engineering ego and let go of expectations that I need to raise capital and hustle for 4+ years — I started lauching fast and interating fast without any expectations — then I started coming up with something truly meaningful and useful ✨
12 startups in 12 months by @levelsio
24 hour startup by @thepatwalls
— are great challenges that make you focus on the end product value, iterate fast and see what sticks and ruthlessly kill what does not work.
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First thread of the year because I have time during MCO. As requested, a thread on the gods and spirits of Malay folk religion. Some are indigenous, some are of Indian origin, some have Islamic
Before I begin, it might be worth explaining the Malay conception of the spirit world. At its deepest level, Malay religious belief is animist. All living beings and even certain objects are said to have a soul. Natural phenomena are either controlled by or personified as spirits
Although these beings had to be respected, not all of them were powerful enough to be considered gods. Offerings would be made to the spirits that had greater influence on human life. Spells and incantations would invoke their
Two known examples of such elemental spirits that had god-like status are Raja Angin (king of the wind) and Mambang Tali Arus (spirit of river currents). There were undoubtedly many more which have been lost to time
Contact with ancient India brought the influence of Hinduism and Buddhism to SEA. What we now call Hinduism similarly developed in India out of native animism and the more formal Vedic tradition. This can be seen in the multitude of sacred animals and location-specific Hindu gods
i wonder if you can make a thread bout witchcraft in malaysia.. or list of our own local gods/deites..
— r a y a \U0001f319 (@lcvelylilith) February 20, 2020
Before I begin, it might be worth explaining the Malay conception of the spirit world. At its deepest level, Malay religious belief is animist. All living beings and even certain objects are said to have a soul. Natural phenomena are either controlled by or personified as spirits
Although these beings had to be respected, not all of them were powerful enough to be considered gods. Offerings would be made to the spirits that had greater influence on human life. Spells and incantations would invoke their
Animist ceremonies of a religious or magical nature were normally held for the purpose of divination or making a request. This would either be done at a keramat or at a shrine similar to the Thai spirit houses or Chinese roadside shrines pic.twitter.com/I1hliyi0x3
— \u2745\u1710\u170b\u1713\u170e (@uglyluhan) June 16, 2019
Two known examples of such elemental spirits that had god-like status are Raja Angin (king of the wind) and Mambang Tali Arus (spirit of river currents). There were undoubtedly many more which have been lost to time
Contact with ancient India brought the influence of Hinduism and Buddhism to SEA. What we now call Hinduism similarly developed in India out of native animism and the more formal Vedic tradition. This can be seen in the multitude of sacred animals and location-specific Hindu gods
BREAKING: @CommonsCMS @DamianCollins just released previously sealed #Six4Three @Facebook documents:
Some random interesting tidbits:
1) Zuck approves shutting down platform API access for Twitter's when Vine is released #competition
2) Facebook engineered ways to access user's call history w/o alerting users:
Team considered access to call history considered 'high PR risk' but 'growth team will charge ahead'. @Facebook created upgrade path to access data w/o subjecting users to Android permissions dialogue.
3) The above also confirms @kashhill and other's suspicion that call history was used to improve PYMK (People You May Know) suggestions and newsfeed rankings.
4) Docs also shed more light into @dseetharaman's story on @Facebook monitoring users' @Onavo VPN activity to determine what competitors to mimic or acquire in 2013.
https://t.co/PwiRIL3v9x
Some random interesting tidbits:
1) Zuck approves shutting down platform API access for Twitter's when Vine is released #competition
2) Facebook engineered ways to access user's call history w/o alerting users:
Team considered access to call history considered 'high PR risk' but 'growth team will charge ahead'. @Facebook created upgrade path to access data w/o subjecting users to Android permissions dialogue.
3) The above also confirms @kashhill and other's suspicion that call history was used to improve PYMK (People You May Know) suggestions and newsfeed rankings.
4) Docs also shed more light into @dseetharaman's story on @Facebook monitoring users' @Onavo VPN activity to determine what competitors to mimic or acquire in 2013.
https://t.co/PwiRIL3v9x
Tip from the Monkey
Pangolins, September 2019 and PLA are the key to this mystery
Stay Tuned!
1. Yang
2. A jacobin capuchin dangling a flagellin pangolin on a javelin while playing a mandolin and strangling a mannequin on a paladin's palanquin, said Saladin
More to come tomorrow!
3. Yigang Tong
https://t.co/CYtqYorhzH
Archived: https://t.co/ncz5ruwE2W
4. YT Interview
Some bats & pangolins carry viruses related with SARS-CoV-2, found in SE Asia and in Yunnan, & the pangolins carrying SARS-CoV-2 related viruses were smuggled from SE Asia, so there is a possibility that SARS-CoV-2 were coming from
Pangolins, September 2019 and PLA are the key to this mystery
Stay Tuned!
1. Yang
Meet Yang Ruifu, CCP's biological weapons expert https://t.co/JjB9TLEO95 via @Gnews202064
— Billy Bostickson \U0001f3f4\U0001f441&\U0001f441 \U0001f193 (@BillyBostickson) October 11, 2020
Interesting expose of China's top bioweapons expert who oversaw fake pangolin research
Paper 1: https://t.co/TrXESKLYmJ
Paper 2:https://t.co/9LSJTNCn3l
Pangolinhttps://t.co/2FUAzWyOcv pic.twitter.com/I2QMXgnkBJ
2. A jacobin capuchin dangling a flagellin pangolin on a javelin while playing a mandolin and strangling a mannequin on a paladin's palanquin, said Saladin
More to come tomorrow!
3. Yigang Tong
https://t.co/CYtqYorhzH
Archived: https://t.co/ncz5ruwE2W
4. YT Interview
Some bats & pangolins carry viruses related with SARS-CoV-2, found in SE Asia and in Yunnan, & the pangolins carrying SARS-CoV-2 related viruses were smuggled from SE Asia, so there is a possibility that SARS-CoV-2 were coming from