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[Music]

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all right hello everyone

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I've got a lot of content to get through

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so I'm gonna move fast Buckle in if you

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are looking for a startup idea right now

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I'm going to try to help but more

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importantly I'm going to try to give you

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the conceptual tools to think about

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startup ideas in a sophisticated way the

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way that we think about them at YC

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here's the thing uh no one not even YC

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knows for sure which ideas will succeed

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and in any case if your idea succeeds

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has much to do with how well you execute

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as your initial idea anyway but certain

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ideas are much more likely to succeed

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than others and so my goal here is to

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help you stack the deck in your favor by

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starting with a promising idea the

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advice in this talk came from several

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places first I analyzed the top 100 YC

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companies by evaluation and I looked at

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how they all got their idea so I started

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with some hard quantitative data on how

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recent billion dollar companies actually

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came up with their idea it also draws on

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a classic essay by Paul Graham that I

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really recommend it's called how to get

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startup ideas

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um it also comes from helping YC

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companies that pivot in the middle of

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the batch and learning over the years

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what advice helps them to find a new

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good startup idea

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and then finally it comes from Reading

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thousands of YC applications that we

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rejected and looking at the mistakes

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that caused good Founders to come up

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with bad ideas and those are the

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mistakes I want to help you all avoid

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this Talk's got three parts first I'm

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going to tell you the most common

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mistakes Founders make with startup

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ideas

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then I'm going to talk about how to know

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if your idea is good and then about how

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to come up with new ones okay the four

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most common mistakes with startup ideas

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so the most common mistake is just

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building something that doesn't solve a

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real problem for your users typically

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you can

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articulate the problem that you're

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solving you can put it in words but when

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you actually go and talk to the users

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it's just not something that they really

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care about

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we call it a solution in search of a

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problem or a cisp

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let's go through an example so a lot of

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Founders come up with an idea with this

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kind of thought process they go hmm AI

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is cool what could I apply AI to

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and then they go look for a problem that

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they could solve with AI That's a

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solution in search of a problem and the

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reason it's dangerous is that if you do

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that you'll probably find a problem but

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it will it will be a superficially

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plausible problem it'll be a made-up

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problem that people don't really care

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about rather than a real problem that

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people actually care about

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and if people don't really care about

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the problem they won't really care about

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your solution so instead you want to

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fall in love with a problem

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the best way to find a startup idea is

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to start with a high quality problem now

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Sunrise Founders hear this and they

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decide to interpret that as guidance to

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work on some like huge societal problem

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like I don't know Global poverty or

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something

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um no doubt those are real problems but

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they're they're too abstract to make

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good starting points for startup ideas

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you need something that's more specific

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something that's tractable with a

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startup the next mistake is getting

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stuck on what we call tar pit ideas

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what's a tar pit idea so there's this

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certain set of common startup ideas that

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have been around for forever they have

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been applying inroves to YC batch after

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batch for years and when founders start

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working on these ideas it's like they've

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gotten stuck in tar they never seem to

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go anywhere so we call them tar pit

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ideas here's what causes tarpet ideas

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they all form around some like

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widespread problem that lots of

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potential Founders encounter and it's a

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problem it seems like it could be easily

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solved with a startup but it's an

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illusion there's actually a structural

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reason why it's very hard or impossible

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to solve which is why after all these

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years no one has solved it

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and you can see why ideas like this

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would be so dangerous why they will

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cause so many Founders to waste months

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of their life stuck on a tarpet like

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they're very tantalizing from a distance

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because they're so superficially

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plausible as startup ideas here's a

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concrete example this is a very common

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tarpet idea that's been applied to YC

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for like 20 years this is like the

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stereotypical college student idea and

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it goes like this you think

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man every Friday or Saturday Saturday

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night when I'm making plans to meet up

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with my friends it's so inefficient I'm

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in all these different text threads and

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chat groups and we're like trying to

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make plans to meet up I'm just going to

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make an app to make it more efficient

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Well turns out that there are some

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structural reasons why this idea is hard

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which is why in like 20 years of people

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applying to YC with this idea nobody has

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actually pulled it off you can see why

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so many people have been attracted to it

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it's like it's a problem that almost

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everyone encounters at some point and it

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seems like it would be so easy to solve

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like you can just imagine the app it's

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just got like a list of events and you

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invite friends to it like it seems so

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simple the thing about tarpet ideas is

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that they are not necessarily impossible

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like I'm even open-minded that somebody

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will eventually make the like app to

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meet up with your friends idea of work

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is more accurate to think of them as

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common ideas that are much harder than

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they seem

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so if you want to work on one

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um here's my advice first Google it it's

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amazing how many Founders skip the step

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of just like Googling for their own

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startup idea to see who has worked on it

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in the past you should find who's worked

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on this in the past and actually talk to

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them if you can try to figure out what

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the hard part of this idea is that has

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caused other people to not be able to

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solve it yet the next mistake is simple

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it is amazing how many Founders will

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basically just like jump into the first

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idea they have without even stopping to

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consider whether it would actually make

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a good business

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but more dangerous is the founders on

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the opposite side of the spectrum who

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sit around waiting for the perfect

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startup idea and of course there is no

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such thing so these people just never

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actually start a company so if you

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imagine that there's like a spectrum

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between picking the first idea that

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comes to mind and waiting for the

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perfect idea and you know somewhere in

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the middle there is this like happy

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place which is the place that you want

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to be right and the way that Paul Graham

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put this is that you should think of

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your idea as a good starting point

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new startup idea is perfect and no

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matter what you start with it's probably

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going to morph anyway so you just want

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to have an initial idea that has enough

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interesting qualities that can morph in

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the right direction so now suppose you

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have a startup idea and you want to know

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if it's good I'm going to give you a

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framework for this and the format of the

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framework is 10 key questions to ask

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about any startup idea so the first one

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is do you have founder market fit if I

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depict like one most important criteria

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it'd probably be this one and what I

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mean by founder market fit is just are

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you the right team to be working on this

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idea

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and a great example of what good founder

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market fit looks like is plan grid so

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plan grid makes an iPad app to view

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construction Blueprints and to the

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founders of plan grid were Tracy and

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Ralph and Tracy had worked in the

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construction industry and she knew a lot

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about construction and Ralph was an

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awesome developer who was like the

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perfect person to build this iPad out if

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you're going to imagine a team to start

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playing grid the team that you would

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imagine would look you know something

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like that and that's what good founder

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market fit looks like it's like this

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team is obviously the right team to work

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on the idea in fact founder market fit

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is so important

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that I would recast your search for a

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startup idea when most people go to pick

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a startup idea they try to look for a

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good startup idea like in the abstract

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and instead I would think about this

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exercise as an exercise to pick a good

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idea for your team you with me it

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doesn't matter if something is a good

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startup idea for someone else if it's

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not a good idea for your team so you may

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as well just look for ideas that you

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would actually be good at executing okay

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number two how big is the market

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obviously you need a big Market which

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for startups typically means like a

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billion dollar market but actually less

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obviously there are two kinds of markets

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for startups that are good

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um ones that are big now and ones that

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are small but rapidly growing

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and an example of the second one is

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coinbase so when coinbase got started in

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2012 the Bitcoin trading Market was

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minuscule but even at that time it was

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pretty obvious that if Bitcoin succeeded

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the way people hoped that it would that

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this would eventually be a billion

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dollar market

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number three how acute is this problem

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so as I said earlier the most common

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mistake is just like working on

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something that just isn't really a

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problem or it's just not a problem that

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people care enough about

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um here's an example of the opposite

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here's an example of what a good problem

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looks like Rex

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so Brax from Winter 2017 makes a credit

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card for startups

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and before brex if a startup NYC wanted

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a corporate credit card they literally

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could not get one because a no bank

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would give a credit card to a startup

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that's a good problem like if you're if

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the alternative to your solution is

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literally nothing that's what a good

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problem looks like okay next do you have

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competition

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now most Founders think that if you have

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competition that that's bad but

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counter-intuitively it is the opposite

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most good startup ideas have competition

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but if you were going up against

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especially entrenched competition you

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typically need a new insight next one is

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like do you want this personally

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do you know people personally who want

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this it's amazing how often people start

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companies where the answer to both these

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questions is no if that's the case you

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definitely got to worry that you know

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maybe nobody wants this so definitely

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time to go talk to some users

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only recently become possible or only

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recently become necessary

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so something has recently changed in the

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world like a new technology regulatory

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change or a new problem that is often

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what creates a new opportunity

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and a great example of this is company

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called Checker which does background

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checks via VIA an API so it's an API for

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doing background checks on people and

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roughly the story of Checker is delivery

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services like doordash and instacart and

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Uber started to take off

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and they were all hiring huge pools of

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delivery people and workers and they

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needed to run background checks on all

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of these people and there were at the

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time already a bunch of large existing

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companies that run background checks but

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they weren't well suited for this very

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new use case and that is like exactly

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the kind of change in the world that

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creates a new opportunity let's talk

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about proxies

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so a proxy is a large company that does

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something similar to your startup but it

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is not a direct competitor

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and so um

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a good example of this in practice is a

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company called rapid which does food

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delivery in Latin America and when

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rapping got started there were already a

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few delivery companies in other parts of

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the world like doordash they're doing

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very well they just hadn't caught on in

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Latin America yet and so doordash was a

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great proxy to show that this idea of

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doing food delivery in Latin America

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would probably work is this an idea

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you'd want to work on for years but this

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is a tricky one like sure if the answer

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to this question is yes that's a good

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sign but often it's not often an idea

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grows on Founders over time as it starts

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to work as I'm going to talk about in a

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moment a lot of the best startup ideas

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are in boring spaces like tax accounting

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software or something like that like no

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one is particularly passionate about

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like nobody starts off being passionate

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about tax accounting software

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um but tax accounting software is

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probably a good business and if you're

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actually running a successful business

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you tend to become passionate about it

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over time okay is this a scalable

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business

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so if you're building pure software the

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answer is yes because software skills

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infinitely and you can just like check

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this one off

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um the place for Founders most often get

340
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into trouble here is with Services

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businesses like agencies or Dev shops

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00:12:10,000 --> 00:12:13,000
anything that requires like high skill

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human labor in order to serve your

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customers okay and my last question is

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is this a good idea space which of

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course means I need to tell you what an

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idea space is this is a concept from my

348
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colleague Dalton who you'll hear from

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later in this course

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an idea space is like one level of

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abstraction out from a particular

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startup idea it is a class of closely

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related startup ideas

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like software for hospitals or

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infrastructure monitoring tools or food

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delivery services and here's the thing

357
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different idea spaces have wildly

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different hit rates

359
00:12:49,000 --> 00:12:53,000
over the last 10 years if you started a

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company that did like fintech

361
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infrastructure or vertical SAS for

362
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Enterprise the the probability that your

363
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company became a billion dollar company

364
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was astonishingly High

365
00:13:03,000 --> 00:13:08,000
whereas if you started something in

366
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consumer Hardware or social networks or

367
00:13:08,000 --> 00:13:13,000
ad Tech the success rate was like orders

368
00:13:12,000 --> 00:13:15,000
of magnitude loader and I can't say that

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00:13:13,000 --> 00:13:16,000
that will continue to be the case for

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those specific areas because spaces

371
00:13:17,000 --> 00:13:22,000
flipped from hot to cold over time but

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it is still worth thinking about picking

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00:13:22,000 --> 00:13:26,000
a good idea space

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and a good idea Space is really just one

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that like you expect is going to have a

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reasonable hit rate for new startup

377
00:13:30,000 --> 00:13:32,000
ideas and one that has founder market

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00:13:32,000 --> 00:13:35,000
fit

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00:13:33,000 --> 00:13:37,000
that way even if your initial idea isn't

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quite right there are probably good

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adjacent ideas that you can sort of like

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drift into

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I'm going to give a good example of like

384
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how this played out in practice so a

385
00:13:43,000 --> 00:13:46,000
good example of picking a good idea

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space is this company called 5tran from

387
00:13:47,000 --> 00:13:52,000
yc1213 and basically it's already 5tran

388
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is they started making this tool for

389
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data analysis

390
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and they went to some companies and they

391
00:13:56,000 --> 00:14:00,000
tried to sell it and the companies

392
00:13:58,000 --> 00:14:02,000
didn't want it so they pivoted and they

393
00:14:00,000 --> 00:14:03,000
built a different tool for data analysis

394
00:14:02,000 --> 00:14:05,000
and they went back to the same companies

395
00:14:04,000 --> 00:14:07,000
and they tried to sell them that one and

396
00:14:06,000 --> 00:14:09,000
the companies didn't want that either

397
00:14:08,000 --> 00:14:11,000
but each time they went to companies and

398
00:14:10,000 --> 00:14:13,000
tried to sell them some tool for data

399
00:14:12,000 --> 00:14:15,000
analysis they would learn more about

400
00:14:13,000 --> 00:14:16,000
what those companies actually wanted and

401
00:14:15,000 --> 00:14:18,000
So eventually they sort of stumbled into

402
00:14:17,000 --> 00:14:20,000
an actual problem into an actual tool

403
00:14:19,000 --> 00:14:22,000
for data analysis that companies

404
00:14:21,000 --> 00:14:23,000
actually wanted

405
00:14:22,000 --> 00:14:26,000
and

406
00:14:23,000 --> 00:14:27,000
this is why picking a good idea space to

407
00:14:26,000 --> 00:14:30,000
start with is so important like because

408
00:14:28,000 --> 00:14:32,000
the five Tran Founders were shopping for

409
00:14:30,000 --> 00:14:34,000
ideas and a fertile idea space they put

410
00:14:33,000 --> 00:14:37,000
themselves in a good position to like

411
00:14:35,000 --> 00:14:39,000
bump into a good startup idea if they

412
00:14:37,000 --> 00:14:40,000
had picked a bad idea space they

413
00:14:39,000 --> 00:14:43,000
probably wouldn't have found anything

414
00:14:40,000 --> 00:14:45,000
okay before I talk about how to generate

415
00:14:43,000 --> 00:14:46,000
startup ideas I've got one important

416
00:14:45,000 --> 00:14:49,000
topic to tell you about

417
00:14:47,000 --> 00:14:52,000
these are three things that make your

418
00:14:50,000 --> 00:14:55,000
startup idea seem bad

419
00:14:53,000 --> 00:14:57,000
but actually make them good and the

420
00:14:55,000 --> 00:14:59,000
reason that they make them good is that

421
00:14:57,000 --> 00:15:01,000
most Founders will shy away from ideas

422
00:15:00,000 --> 00:15:04,000
like these which leaves them on the

423
00:15:02,000 --> 00:15:06,000
table for smarter Founders to go and

424
00:15:04,000 --> 00:15:09,000
grab them and here they are

425
00:15:06,000 --> 00:15:11,000
ideas that are hard to get started ideas

426
00:15:09,000 --> 00:15:13,000
that are in a boring space and ideas

427
00:15:12,000 --> 00:15:16,000
that have existing competitors

428
00:15:14,000 --> 00:15:18,000
ideas that are hard to get started so

429
00:15:17,000 --> 00:15:20,000
Paul Graham wrote a terrific article

430
00:15:19,000 --> 00:15:22,000
about this called schlep blindness which

431
00:15:21,000 --> 00:15:24,000
I'd really recommend reading and the

432
00:15:22,000 --> 00:15:25,000
example that Paul discusses is stripe

433
00:15:24,000 --> 00:15:27,000
you all know stripe they make it easy to

434
00:15:26,000 --> 00:15:28,000
integrate credit card payments to your

435
00:15:28,000 --> 00:15:31,000
website

436
00:15:28,000 --> 00:15:32,000
and the fascinating thing about stripe

437
00:15:31,000 --> 00:15:36,000
is that when stripe launched there were

438
00:15:33,000 --> 00:15:38,000
thousands of developers who already knew

439
00:15:36,000 --> 00:15:39,000
that this was a problem they had tried

440
00:15:39,000 --> 00:15:41,000
to integrate credit card payments to

441
00:15:40,000 --> 00:15:43,000
their site and they realized that the

442
00:15:41,000 --> 00:15:46,000
existing options sucked

443
00:15:43,000 --> 00:15:49,000
but strangely not one of them even tried

444
00:15:47,000 --> 00:15:51,000
to start striping and it's kind of a

445
00:15:50,000 --> 00:15:53,000
kind of a fascinating question why

446
00:15:51,000 --> 00:15:54,000
nobody else tried when so many people

447
00:15:53,000 --> 00:15:56,000
were in a perfect position to see this

448
00:15:55,000 --> 00:16:00,000
problem

449
00:15:56,000 --> 00:16:02,000
and the reason is that getting

450
00:16:00,000 --> 00:16:04,000
started building stripe required some

451
00:16:03,000 --> 00:16:07,000
things that seemed really hard you had

452
00:16:05,000 --> 00:16:09,000
to get a special deal with a bank you

453
00:16:08,000 --> 00:16:11,000
get to learn a lot about the

454
00:16:09,000 --> 00:16:13,000
nitty-gritty details of credit card

455
00:16:11,000 --> 00:16:16,000
infrastructure those things seemed so

456
00:16:14,000 --> 00:16:18,000
hard that they scared off all the other

457
00:16:17,000 --> 00:16:21,000
people who might have started stripe

458
00:16:18,000 --> 00:16:22,000
which caused them to leave this like 100

459
00:16:21,000 --> 00:16:24,000
billion dollar opportunity on the table

460
00:16:22,000 --> 00:16:26,000
for the stripe Founders to go and pick

461
00:16:24,000 --> 00:16:30,000
up okay the second one is ideas that are

462
00:16:27,000 --> 00:16:31,000
in a boring space and a great example of

463
00:16:30,000 --> 00:16:33,000
this is Gusto which makes payroll

464
00:16:32,000 --> 00:16:36,000
software

465
00:16:34,000 --> 00:16:38,000
payroll software pretty boring right

466
00:16:37,000 --> 00:16:40,000
the thing is there are thousands of

467
00:16:39,000 --> 00:16:42,000
people who must have realized that

468
00:16:40,000 --> 00:16:43,000
payroll software sucked but because it

469
00:16:42,000 --> 00:16:45,000
was kind of a boring problem nobody

470
00:16:44,000 --> 00:16:47,000
tried to fix it until the Gusto Founders

471
00:16:45,000 --> 00:16:49,000
came along and the thing is that because

472
00:16:47,000 --> 00:16:50,000
most Founders shy away from ideas like

473
00:16:50,000 --> 00:16:53,000
this

474
00:16:51,000 --> 00:16:56,000
boring ideas like payroll software have

475
00:16:53,000 --> 00:16:57,000
a much higher hit rate than fun ideas

476
00:16:56,000 --> 00:16:59,000
like

477
00:16:57,000 --> 00:17:01,000
apps to find new restaurants to eat at

478
00:17:00,000 --> 00:17:04,000
or like apps to find the next song to

479
00:17:02,000 --> 00:17:06,000
listen to something like that like fun

480
00:17:04,000 --> 00:17:09,000
ideas get picked over boring ideas get

481
00:17:07,000 --> 00:17:13,000
left on the table for a long time

482
00:17:10,000 --> 00:17:14,000
now you might be thinking Jared why

483
00:17:13,000 --> 00:17:16,000
would I want to work on a boring idea

484
00:17:15,000 --> 00:17:19,000
that sounds you know boring

485
00:17:17,000 --> 00:17:22,000
but here's the thing even if you work on

486
00:17:19,000 --> 00:17:23,000
an idea that sounds fun at the outset

487
00:17:22,000 --> 00:17:27,000
the day-to-day reality of your startup

488
00:17:24,000 --> 00:17:29,000
is going to be mostly the same anyway

489
00:17:27,000 --> 00:17:33,000
either way you'll be mostly writing code

490
00:17:30,000 --> 00:17:36,000
fixing bugs talking to users like pretty

491
00:17:34,000 --> 00:17:39,000
much the same stuff and so I would argue

492
00:17:36,000 --> 00:17:42,000
that once the initial excitement of your

493
00:17:39,000 --> 00:17:45,000
idea has worn off and you are 6 or 12

494
00:17:43,000 --> 00:17:47,000
months in and you are grinding out the

495
00:17:45,000 --> 00:17:48,000
execution that makes your idea actually

496
00:17:47,000 --> 00:17:51,000
work

497
00:17:49,000 --> 00:17:53,000
how fun the initial idea sounded

498
00:17:51,000 --> 00:17:55,000
actually has little to no correlation

499
00:17:53,000 --> 00:17:58,000
with how much fun you will actually be

500
00:17:56,000 --> 00:18:00,000
having working on your company

501
00:17:59,000 --> 00:18:03,000
and the last one is that Founders

502
00:18:01,000 --> 00:18:04,000
incorrectly shy away from spaces where

503
00:18:03,000 --> 00:18:07,000
there are existing competitors

504
00:18:04,000 --> 00:18:08,000
counter-intuitively most startup ideas

505
00:18:07,000 --> 00:18:11,000
most good startup ideas have existing

506
00:18:09,000 --> 00:18:13,000
competitors when founders go into spaces

507
00:18:11,000 --> 00:18:14,000
with no existing competitors they often

508
00:18:13,000 --> 00:18:16,000
find out that the reason that there are

509
00:18:15,000 --> 00:18:18,000
no competitors is because no one wants

510
00:18:17,000 --> 00:18:20,000
the product

511
00:18:18,000 --> 00:18:22,000
a great situation is actually a market

512
00:18:21,000 --> 00:18:24,000
where there are existing competitors but

513
00:18:23,000 --> 00:18:26,000
you've noticed something that they all

514
00:18:24,000 --> 00:18:27,000
seem to have missed or they all just

515
00:18:26,000 --> 00:18:31,000
kind of suck a classic example of this

516
00:18:28,000 --> 00:18:34,000
is Dropbox so when Dropbox launched they

517
00:18:31,000 --> 00:18:36,000
were already about 20.

518
00:18:34,000 --> 00:18:38,000
cloud-based file storage companies

519
00:18:37,000 --> 00:18:41,000
Dropbox was like the 20th company and

520
00:18:39,000 --> 00:18:42,000
it's space to launch naively you might

521
00:18:41,000 --> 00:18:44,000
have thought that that made this a bad

522
00:18:42,000 --> 00:18:44,000
Market I mean you would have gone and

523
00:18:44,000 --> 00:18:46,000
looked and said like oh there are

524
00:18:45,000 --> 00:18:48,000
already 20 competitors it seems like a

525
00:18:46,000 --> 00:18:49,000
bad Market to go into but if you were

526
00:18:48,000 --> 00:18:51,000
Savvy about startup ideas you would have

527
00:18:50,000 --> 00:18:54,000
realized that it actually made it a

528
00:18:52,000 --> 00:18:56,000
great Market and the reason is that even

529
00:18:54,000 --> 00:18:59,000
though there were like 20 companies

530
00:18:56,000 --> 00:19:02,000
doing this most people didn't use any of

531
00:18:59,000 --> 00:19:03,000
them and that strongly suggests that

532
00:19:02,000 --> 00:19:06,000
there actually was a problem here but

533
00:19:04,000 --> 00:19:09,000
the existing products hadn't solved it

534
00:19:07,000 --> 00:19:12,000
and Drew the founder of Dropbox had a

535
00:19:10,000 --> 00:19:14,000
very specific insight about what all of

536
00:19:12,000 --> 00:19:15,000
them were missing his Insight was

537
00:19:14,000 --> 00:19:18,000
basically their UI sucked and the reason

538
00:19:16,000 --> 00:19:19,000
their UI stopped was that at the time

539
00:19:18,000 --> 00:19:22,000
the way that they all worked is you had

540
00:19:20,000 --> 00:19:24,000
to like go to their website and manually

541
00:19:22,000 --> 00:19:26,000
upload your files one at a time into

542
00:19:24,000 --> 00:19:28,000
their website which sucked of course and

543
00:19:27,000 --> 00:19:31,000
Drew had really a technical Insight

544
00:19:29,000 --> 00:19:33,000
which was that if he integrated directly

545
00:19:31,000 --> 00:19:34,000
into the host operating system he could

546
00:19:33,000 --> 00:19:36,000
just sync your files automatically

547
00:19:34,000 --> 00:19:38,000
without you having to do anything and

548
00:19:36,000 --> 00:19:40,000
that was a real step function change in

549
00:19:38,000 --> 00:19:42,000
how convenient these Services were to

550
00:19:40,000 --> 00:19:45,000
use and that was the right insight okay

551
00:19:43,000 --> 00:19:49,000
let's talk about how to come up with

552
00:19:46,000 --> 00:19:51,000
startup ideas so it is possible to sit

553
00:19:49,000 --> 00:19:52,000
down and explicitly think of startup

554
00:19:51,000 --> 00:19:55,000
ideas and in a moment I'm going to talk

555
00:19:53,000 --> 00:19:57,000
about how to do this but it is actually

556
00:19:55,000 --> 00:19:58,000
not the best way the best way to have

557
00:19:57,000 --> 00:20:01,000
startup ideas is to just notice them

558
00:19:59,000 --> 00:20:03,000
organically and if you look at the YC

559
00:20:01,000 --> 00:20:04,000
top 100 companies at least 70 percent of

560
00:20:04,000 --> 00:20:07,000
them have their startup ideas

561
00:20:05,000 --> 00:20:08,000
organically rather than by like sitting

562
00:20:07,000 --> 00:20:10,000
down and explicitly trying to think of a

563
00:20:09,000 --> 00:20:13,000
startup idea and the problem is that

564
00:20:11,000 --> 00:20:15,000
when people sit down and try to think of

565
00:20:13,000 --> 00:20:17,000
startup ideas they tend to think of bad

566
00:20:15,000 --> 00:20:19,000
ones they're especially likely to think

567
00:20:18,000 --> 00:20:22,000
of the same set of tar pit ideas that I

568
00:20:20,000 --> 00:20:24,000
talked about earlier whereas startup

569
00:20:22,000 --> 00:20:26,000
ideas that occur to you organically are

570
00:20:24,000 --> 00:20:27,000
more likely to be good ones so if you're

571
00:20:27,000 --> 00:20:29,000
not planning on starting a company

572
00:20:28,000 --> 00:20:31,000
imminently and you just want to put

573
00:20:30,000 --> 00:20:34,000
yourself in a position to have organic

574
00:20:32,000 --> 00:20:36,000
startup ideas in the future here are

575
00:20:34,000 --> 00:20:37,000
three ways to do that this is like

576
00:20:36,000 --> 00:20:39,000
playing the long game to set yourself up

577
00:20:38,000 --> 00:20:41,000
for future success

578
00:20:39,000 --> 00:20:43,000
um first is just like become an expert

579
00:20:41,000 --> 00:20:45,000
on something valuable if you're working

580
00:20:44,000 --> 00:20:48,000
at the Forefront of some field you'll

581
00:20:46,000 --> 00:20:50,000
see good startup ideas in that field

582
00:20:48,000 --> 00:20:52,000
and a great way to do that is to go work

583
00:20:50,000 --> 00:20:53,000
at a startup Harge talked about this in

584
00:20:52,000 --> 00:20:55,000
his talk last week if you're working at

585
00:20:54,000 --> 00:20:57,000
a startup you will become an expert in

586
00:20:56,000 --> 00:20:59,000
the thing that that startup does and

587
00:20:57,000 --> 00:21:00,000
that is really putting yourself in a

588
00:20:59,000 --> 00:21:03,000
position to have great startup ideas and

589
00:21:01,000 --> 00:21:04,000
finally if you're a programmer one thing

590
00:21:03,000 --> 00:21:06,000
that can work is to just build things

591
00:21:05,000 --> 00:21:08,000
that you find interesting even if

592
00:21:07,000 --> 00:21:10,000
they're not businesses they're not

593
00:21:08,000 --> 00:21:11,000
clearly startup ideas sometimes they

594
00:21:10,000 --> 00:21:15,000
like

595
00:21:12,000 --> 00:21:18,000
turn into them over time and a really

596
00:21:16,000 --> 00:21:20,000
striking example of this is the story of

597
00:21:18,000 --> 00:21:21,000
replica this is exactly how replica

598
00:21:20,000 --> 00:21:23,000
started it was just something that amjad

599
00:21:22,000 --> 00:21:25,000
found interesting it wasn't supposed to

600
00:21:24,000 --> 00:21:27,000
be a startup originally okay but if you

601
00:21:26,000 --> 00:21:29,000
want to generate ideas for startups

602
00:21:28,000 --> 00:21:32,000
right now I'm going to walk through

603
00:21:29,000 --> 00:21:33,000
seven recipes for doing that I've tried

604
00:21:32,000 --> 00:21:36,000
to list these in order of How likely

605
00:21:34,000 --> 00:21:39,000
they are to lead to actually good ideas

606
00:21:37,000 --> 00:21:43,000
so start with the first ones okay here's

607
00:21:40,000 --> 00:21:45,000
the first one and the best one

608
00:21:43,000 --> 00:21:47,000
start with what your team is especially

609
00:21:46,000 --> 00:21:49,000
good at

610
00:21:47,000 --> 00:21:51,000
and think of ideas that take advantage

611
00:21:49,000 --> 00:21:53,000
of your expertise the reason that this

612
00:21:52,000 --> 00:21:56,000
is so effective is that any idea you

613
00:21:54,000 --> 00:21:58,000
come up with this way has automatic

614
00:21:56,000 --> 00:21:59,000
founder market fit do you see how this

615
00:21:58,000 --> 00:22:02,000
is almost like a hack to generate the

616
00:22:00,000 --> 00:22:04,000
set of ideas that has founder market fit

617
00:22:02,000 --> 00:22:05,000
here's a great example of like how this

618
00:22:04,000 --> 00:22:07,000
worked in practice

619
00:22:05,000 --> 00:22:09,000
so a good example is this company resi

620
00:22:08,000 --> 00:22:13,000
which is like open door for rental

621
00:22:10,000 --> 00:22:14,000
apartments and before starting resi the

622
00:22:13,000 --> 00:22:17,000
founders have worked in real estate and

623
00:22:15,000 --> 00:22:18,000
debt financing and they were experts in

624
00:22:17,000 --> 00:22:20,000
those areas

625
00:22:18,000 --> 00:22:22,000
and where they got into YC they spent

626
00:22:21,000 --> 00:22:25,000
the first month looking for ideas

627
00:22:23,000 --> 00:22:27,000
but the smart thing that they did is

628
00:22:25,000 --> 00:22:29,000
they only looked at ideas in that idea

629
00:22:28,000 --> 00:22:31,000
space in like the rough idea space at

630
00:22:30,000 --> 00:22:33,000
like the intersection of like real

631
00:22:31,000 --> 00:22:36,000
estate and fintech and that was a smart

632
00:22:34,000 --> 00:22:38,000
move because that is a very fertile idea

633
00:22:36,000 --> 00:22:39,000
space for startups like many billion

634
00:22:39,000 --> 00:22:42,000
dollar companies have come out of that

635
00:22:40,000 --> 00:22:43,000
idea space and the resi founders were

636
00:22:42,000 --> 00:22:45,000
experts in that idea space and so

637
00:22:44,000 --> 00:22:47,000
because of that

638
00:22:45,000 --> 00:22:49,000
their search for a startup idea was

639
00:22:47,000 --> 00:22:50,000
pretty quick and painless and pretty

640
00:22:49,000 --> 00:22:52,000
quickly they came up with the idea for

641
00:22:51,000 --> 00:22:55,000
Rezi which is like an excellent idea and

642
00:22:53,000 --> 00:22:57,000
has perfect founder market fit so if you

643
00:22:56,000 --> 00:23:00,000
have specific expertise like the resi

644
00:22:58,000 --> 00:23:03,000
founders did you should definitely start

645
00:23:00,000 --> 00:23:04,000
by looking at ideas in you know the

646
00:23:03,000 --> 00:23:08,000
things that you're experts in

647
00:23:05,000 --> 00:23:10,000
um it is weird how many startups apply

648
00:23:08,000 --> 00:23:11,000
to YC and we look at their applications

649
00:23:10,000 --> 00:23:13,000
and the founders like are actually

650
00:23:11,000 --> 00:23:14,000
legitimate experts in something but the

651
00:23:13,000 --> 00:23:16,000
idea that they're applying with is like

652
00:23:15,000 --> 00:23:19,000
something completely different

653
00:23:17,000 --> 00:23:20,000
now if you're if you're a young founder

654
00:23:19,000 --> 00:23:22,000
if you're in college or something you

655
00:23:21,000 --> 00:23:25,000
may not have had a chance to develop

656
00:23:23,000 --> 00:23:27,000
it's like the level of domain expertise

657
00:23:25,000 --> 00:23:29,000
that the resi founders had so this may

658
00:23:27,000 --> 00:23:30,000
not be the right recipe for you so let's

659
00:23:29,000 --> 00:23:32,000
talk about some other ones

660
00:23:31,000 --> 00:23:35,000
the next recipe is to start with a

661
00:23:33,000 --> 00:23:38,000
problem you've personally encountered

662
00:23:35,000 --> 00:23:43,000
ideally one that you're in an unusual

663
00:23:38,000 --> 00:23:45,000
position to see so vetco is a website

664
00:23:43,000 --> 00:23:47,000
for veterinarians to order supplies so

665
00:23:46,000 --> 00:23:49,000
you can think about it like amazon.com

666
00:23:48,000 --> 00:23:51,000
for vets

667
00:23:49,000 --> 00:23:52,000
and the short story of vetcove is that

668
00:23:52,000 --> 00:23:56,000
the founders are brothers

669
00:23:53,000 --> 00:23:58,000
and their dad is a veterinarian

670
00:23:56,000 --> 00:24:00,000
and growing up they would notice that

671
00:23:58,000 --> 00:24:01,000
the way he ordered supplies was like

672
00:24:00,000 --> 00:24:04,000
super old-fashioned like you'd have to

673
00:24:02,000 --> 00:24:06,000
like call up a supplier on the phone and

674
00:24:05,000 --> 00:24:09,000
like order stuff through like a 1-800

675
00:24:07,000 --> 00:24:11,000
number or something it was like very

676
00:24:10,000 --> 00:24:12,000
obvious that you could build an

677
00:24:11,000 --> 00:24:13,000
amazon.com kind of thing that would

678
00:24:13,000 --> 00:24:16,000
replace that

679
00:24:14,000 --> 00:24:20,000
and I I love the story of vetco because

680
00:24:16,000 --> 00:24:21,000
it's such a great example of what a

681
00:24:20,000 --> 00:24:24,000
great startup opportunity looks like

682
00:24:22,000 --> 00:24:27,000
because thousands of veterinarians must

683
00:24:25,000 --> 00:24:28,000
have known that this was a real problem

684
00:24:27,000 --> 00:24:30,000
that it was really annoying there wasn't

685
00:24:28,000 --> 00:24:31,000
like a basic website where you could

686
00:24:30,000 --> 00:24:34,000
just go to order supplies but the thing

687
00:24:32,000 --> 00:24:36,000
is veterinarians don't start Tech

688
00:24:34,000 --> 00:24:38,000
startups very often and then on the

689
00:24:36,000 --> 00:24:39,000
other hand you had like thousands of

690
00:24:38,000 --> 00:24:42,000
programmers in Silicon Valley who were

691
00:24:40,000 --> 00:24:45,000
begging their heads against cisps and

692
00:24:42,000 --> 00:24:46,000
tarpet ideas totally unaware that over

693
00:24:45,000 --> 00:24:50,000
here there was like a really great

694
00:24:47,000 --> 00:24:51,000
genuine problem to work on

695
00:24:50,000 --> 00:24:54,000
and because of this when the vet

696
00:24:52,000 --> 00:24:56,000
co-founders got started they had no

697
00:24:54,000 --> 00:24:58,000
competition so this amazing idea just

698
00:24:56,000 --> 00:25:00,000
got left on the table for years so if

699
00:24:59,000 --> 00:25:03,000
you want to try to actually use recipes

700
00:25:01,000 --> 00:25:05,000
one and two here's a specific set of

701
00:25:03,000 --> 00:25:06,000
instructions for how to do it this is

702
00:25:05,000 --> 00:25:08,000
advice I often give to Founders NYC who

703
00:25:07,000 --> 00:25:11,000
are pivoting and who are looking for a

704
00:25:09,000 --> 00:25:14,000
new idea here's how it works

705
00:25:12,000 --> 00:25:17,000
for each founder on your team

706
00:25:14,000 --> 00:25:19,000
go through every job you've ever had

707
00:25:17,000 --> 00:25:22,000
plus all your internships plus like

708
00:25:20,000 --> 00:25:25,000
other life experiences

709
00:25:23,000 --> 00:25:26,000
and think really carefully about each of

710
00:25:25,000 --> 00:25:29,000
them

711
00:25:26,000 --> 00:25:31,000
what problems did you come across

712
00:25:30,000 --> 00:25:33,000
what did you learn that other people

713
00:25:32,000 --> 00:25:35,000
don't know

714
00:25:34,000 --> 00:25:38,000
What are problems or opportunities that

715
00:25:36,000 --> 00:25:39,000
you've been in kind of a special

716
00:25:38,000 --> 00:25:42,000
position to see

717
00:25:40,000 --> 00:25:45,000
those are the best places to start

718
00:25:42,000 --> 00:25:46,000
looking for startup ideas okay the next

719
00:25:45,000 --> 00:25:48,000
one is to just think of things you

720
00:25:47,000 --> 00:25:50,000
personally wish existed this is like a

721
00:25:49,000 --> 00:25:52,000
really classic recipe this is very

722
00:25:50,000 --> 00:25:54,000
common advice great example of this is

723
00:25:52,000 --> 00:25:55,000
doordash the short story of doordash is

724
00:25:55,000 --> 00:25:58,000
that the founders of doordash were

725
00:25:56,000 --> 00:25:59,000
undergrads at Stanford and the thing

726
00:25:58,000 --> 00:26:01,000
they really wanted was to be able to

727
00:26:00,000 --> 00:26:03,000
just order food from local restaurants

728
00:26:01,000 --> 00:26:04,000
and have it delivered to their dorm and

729
00:26:03,000 --> 00:26:07,000
before doordash you couldn't do that so

730
00:26:05,000 --> 00:26:09,000
they started doordash and this is a

731
00:26:08,000 --> 00:26:12,000
great recipe but

732
00:26:10,000 --> 00:26:14,000
this is the recipe that is most

733
00:26:13,000 --> 00:26:17,000
dangerous and potentially leading to tar

734
00:26:15,000 --> 00:26:18,000
pit ideas so if you're using this recipe

735
00:26:17,000 --> 00:26:20,000
you just gotta stop and think for a

736
00:26:19,000 --> 00:26:22,000
second is there a reason why this thing

737
00:26:20,000 --> 00:26:24,000
doesn't exist yet okay the next one is

738
00:26:23,000 --> 00:26:26,000
to look for things in the world that

739
00:26:24,000 --> 00:26:28,000
have changed recently that might have

740
00:26:26,000 --> 00:26:30,000
created a new opportunity a great

741
00:26:28,000 --> 00:26:32,000
example of this is covet

742
00:26:30,000 --> 00:26:35,000
so when the pandemic started it changed

743
00:26:32,000 --> 00:26:36,000
daily life for all of us and many

744
00:26:35,000 --> 00:26:38,000
Founders realize that this created the

745
00:26:37,000 --> 00:26:40,000
opportunity for new companies and some

746
00:26:39,000 --> 00:26:41,000
very successful startups came out of it

747
00:26:41,000 --> 00:26:44,000
and

748
00:26:42,000 --> 00:26:45,000
one of them is this company called

749
00:26:44,000 --> 00:26:47,000
gather town which builds like this fun

750
00:26:46,000 --> 00:26:49,000
way to hang out with other people online

751
00:26:48,000 --> 00:26:51,000
and the founders of gathered town were

752
00:26:50,000 --> 00:26:53,000
actually working on a different idea

753
00:26:51,000 --> 00:26:55,000
that wasn't going so well and when the

754
00:26:53,000 --> 00:26:56,000
pandemic started they pivoted to this

755
00:26:55,000 --> 00:26:58,000
because it was obvious that like the

756
00:26:57,000 --> 00:27:01,000
change in behavior of the pandemic had

757
00:26:59,000 --> 00:27:03,000
created a bunch of new opportunities you

758
00:27:01,000 --> 00:27:05,000
can also look for companies that have

759
00:27:03,000 --> 00:27:08,000
been successful recently and look for

760
00:27:06,000 --> 00:27:10,000
new variants on them

761
00:27:08,000 --> 00:27:12,000
a good example of this is a company

762
00:27:10,000 --> 00:27:14,000
called Nuvo cargo Nuvo cargo is a good

763
00:27:13,000 --> 00:27:16,000
example of explicitly sitting down to

764
00:27:15,000 --> 00:27:17,000
try to think about startup ideas and

765
00:27:16,000 --> 00:27:18,000
actually finding a good one which is the

766
00:27:17,000 --> 00:27:20,000
thing that I told you is hard to do

767
00:27:19,000 --> 00:27:24,000
pneumo cargo is basically flexport for

768
00:27:21,000 --> 00:27:26,000
Latin America they help U.S companies to

769
00:27:24,000 --> 00:27:28,000
import stuff from Mexico

770
00:27:26,000 --> 00:27:30,000
and the story of nuva cargo is that

771
00:27:28,000 --> 00:27:32,000
Deepak the founder was working on a

772
00:27:30,000 --> 00:27:34,000
different idea NYC and he realized that

773
00:27:32,000 --> 00:27:36,000
his idea wasn't going to work

774
00:27:35,000 --> 00:27:39,000
and he went on like a systematic search

775
00:27:37,000 --> 00:27:42,000
for better ideas

776
00:27:39,000 --> 00:27:43,000
and he picked Nuvo cargo for for very

777
00:27:42,000 --> 00:27:45,000
analytical reasons he picked it because

778
00:27:44,000 --> 00:27:47,000
it was a large Market

779
00:27:45,000 --> 00:27:49,000
because they were good

780
00:27:47,000 --> 00:27:51,000
proxies from other companies flexport

781
00:27:49,000 --> 00:27:53,000
and he picked it even though he didn't

782
00:27:52,000 --> 00:27:57,000
have deep domain expertise in the import

783
00:27:54,000 --> 00:27:57,000
export space because he had some

784
00:27:57,000 --> 00:28:00,000
connections that would enable him to get

785
00:27:58,000 --> 00:28:01,000
started and he felt like he would just

786
00:28:00,000 --> 00:28:04,000
be very good at running this kind of

787
00:28:02,000 --> 00:28:06,000
operationally intensive business

788
00:28:04,000 --> 00:28:08,000
and that worked really well Niva cargo

789
00:28:06,000 --> 00:28:11,000
is doing super well you can also go and

790
00:28:09,000 --> 00:28:13,000
talk to people and just ask them what

791
00:28:11,000 --> 00:28:14,000
problems they have this this can work

792
00:28:13,000 --> 00:28:17,000
the the downside with this recipe is it

793
00:28:15,000 --> 00:28:19,000
actually requires a lot of skill if you

794
00:28:17,000 --> 00:28:22,000
want to do this I would recommend first

795
00:28:19,000 --> 00:28:24,000
picking a fertile idea space and then

796
00:28:23,000 --> 00:28:27,000
going and talking to people within that

797
00:28:25,000 --> 00:28:30,000
idea space and I would also recommend

798
00:28:27,000 --> 00:28:32,000
talking not just to potential customers

799
00:28:30,000 --> 00:28:36,000
but also to potent but also to founders

800
00:28:33,000 --> 00:28:38,000
of companies in that idea space to get

801
00:28:36,000 --> 00:28:39,000
advice about what ideas are actually

802
00:28:38,000 --> 00:28:42,000
worth pursuing and a good example of

803
00:28:40,000 --> 00:28:44,000
doing this successfully is a to B and A

804
00:28:43,000 --> 00:28:46,000
to B was in the position that a lot of

805
00:28:45,000 --> 00:28:48,000
Founders that struggle to find good

806
00:28:47,000 --> 00:28:50,000
startup ideas are in which is that the

807
00:28:48,000 --> 00:28:51,000
founders were pretty young and they

808
00:28:50,000 --> 00:28:54,000
hadn't acquired a lot of specific domain

809
00:28:52,000 --> 00:28:55,000
expertise like the resi founders had yet

810
00:28:54,000 --> 00:28:56,000
but they really wanted to do a startup

811
00:28:56,000 --> 00:28:59,000
and they wanted to do a startup that had

812
00:28:57,000 --> 00:29:00,000
like a genuinely good idea the way that

813
00:28:59,000 --> 00:29:03,000
they came up with the idea for ADB was

814
00:29:01,000 --> 00:29:05,000
very systematic and so I'm going to walk

815
00:29:03,000 --> 00:29:07,000
you through how they did it and really

816
00:29:05,000 --> 00:29:09,000
break it down for you so A to B makes

817
00:29:08,000 --> 00:29:12,000
fuel cards and if you haven't heard of a

818
00:29:10,000 --> 00:29:14,000
fuel card it's like a special kind of

819
00:29:12,000 --> 00:29:16,000
credit card for truck drivers when the A

820
00:29:15,000 --> 00:29:19,000
to B Founders got into YC they pivoted

821
00:29:17,000 --> 00:29:21,000
and they spent the whole YC batch

822
00:29:19,000 --> 00:29:24,000
looking for a new idea and here's how

823
00:29:21,000 --> 00:29:25,000
they did it first they picked an idea

824
00:29:24,000 --> 00:29:27,000
space and the idea space that they

825
00:29:26,000 --> 00:29:30,000
picked was essentially software for the

826
00:29:28,000 --> 00:29:32,000
trucking industry

827
00:29:30,000 --> 00:29:34,000
and they picked this idea space despite

828
00:29:33,000 --> 00:29:37,000
not being experts at the trucking

829
00:29:35,000 --> 00:29:40,000
industry because they felt that it just

830
00:29:38,000 --> 00:29:42,000
should be a fertile idea space to go

831
00:29:40,000 --> 00:29:44,000
hunting for startup ideas the trucking

832
00:29:42,000 --> 00:29:46,000
industry is as like Big Industry hasn't

833
00:29:45,000 --> 00:29:48,000
been that disrupted by startups and

834
00:29:47,000 --> 00:29:50,000
software yet so they just felt like

835
00:29:48,000 --> 00:29:52,000
there were probably some good problems

836
00:29:50,000 --> 00:29:54,000
to work on in the trucking industry but

837
00:29:53,000 --> 00:29:55,000
the problem is

838
00:29:54,000 --> 00:29:56,000
they didn't know that much about the

839
00:29:55,000 --> 00:29:58,000
trucking industry so they didn't know

840
00:29:57,000 --> 00:30:01,000
what those problems were and so they

841
00:29:58,000 --> 00:30:03,000
decided that they would turn themselves

842
00:30:01,000 --> 00:30:06,000
into experts in the trucking industry

843
00:30:04,000 --> 00:30:08,000
and what they did is they actually

844
00:30:06,000 --> 00:30:09,000
physically drove two truck stops which

845
00:30:08,000 --> 00:30:10,000
were places where truck drivers are just

846
00:30:10,000 --> 00:30:13,000
kind of

847
00:30:11,000 --> 00:30:15,000
Milling about and they would just walk

848
00:30:13,000 --> 00:30:17,000
up to truck drivers and like start

849
00:30:16,000 --> 00:30:20,000
talking to them and ask them questions

850
00:30:18,000 --> 00:30:22,000
about what their problems were

851
00:30:20,000 --> 00:30:23,000
they also talked to a lot of Founders

852
00:30:23,000 --> 00:30:28,000
who had started companies in the

853
00:30:24,000 --> 00:30:29,000
trucking space to get ideas for what

854
00:30:28,000 --> 00:30:32,000
problems were actually worth working on

855
00:30:30,000 --> 00:30:33,000
they would basically talk to like anyone

856
00:30:32,000 --> 00:30:35,000
who knew anything about Trucking that

857
00:30:34,000 --> 00:30:38,000
was willing to talk to them and as they

858
00:30:36,000 --> 00:30:40,000
did that they began to put together like

859
00:30:38,000 --> 00:30:42,000
a mental map of the space and where the

860
00:30:41,000 --> 00:30:45,000
good ideas were where the bad ideas were

861
00:30:43,000 --> 00:30:46,000
and they actually went through a whole

862
00:30:45,000 --> 00:30:48,000
bunch of different potential ideas

863
00:30:47,000 --> 00:30:52,000
before eventually deciding to work on

864
00:30:49,000 --> 00:30:54,000
fuel cards and I love the example of a

865
00:30:52,000 --> 00:30:56,000
to B Because A to B is one of the best

866
00:30:55,000 --> 00:30:59,000
new ideas to come out of YC in several

867
00:30:57,000 --> 00:31:01,000
years A to B is a phenomenal company and

868
00:31:00,000 --> 00:31:03,000
the approach that they used to find this

869
00:31:01,000 --> 00:31:07,000
idea is something that really anyone

870
00:31:03,000 --> 00:31:09,000
could do and most Founders don't do this

871
00:31:07,000 --> 00:31:11,000
because it just sounds like too much

872
00:31:10,000 --> 00:31:14,000
work so if you're willing to put in the

873
00:31:12,000 --> 00:31:16,000
work this is an amazing way to find a

874
00:31:14,000 --> 00:31:18,000
startup idea okay and my last recipe is

875
00:31:17,000 --> 00:31:20,000
to just like look for big industries

876
00:31:19,000 --> 00:31:22,000
that seem broken

877
00:31:21,000 --> 00:31:24,000
any Big Industry that seems broken is

878
00:31:23,000 --> 00:31:26,000
probably right for disruption and

879
00:31:25,000 --> 00:31:30,000
finally I've got kind of a bonus recipe

880
00:31:26,000 --> 00:31:31,000
which is to just find a co-founder that

881
00:31:30,000 --> 00:31:33,000
already has an idea they're actually

882
00:31:31,000 --> 00:31:33,000
like a lot of people just on Startup

883
00:31:33,000 --> 00:31:35,000
School co-founder matching right now

884
00:31:34,000 --> 00:31:37,000
that already have an idea and are

885
00:31:36,000 --> 00:31:39,000
looking for a co-founder so if you don't

886
00:31:38,000 --> 00:31:41,000
have a co-founder and you don't have an

887
00:31:39,000 --> 00:31:42,000
idea that could be a great hack to

888
00:31:41,000 --> 00:31:44,000
getting both at the same time the last

889
00:31:43,000 --> 00:31:46,000
point that I want to leave you with is

890
00:31:45,000 --> 00:31:49,000
just to remember that it's often hard to

891
00:31:47,000 --> 00:31:51,000
tell if a startup idea is good or not

892
00:31:49,000 --> 00:31:54,000
and so while I hope the concepts that I

893
00:31:52,000 --> 00:31:56,000
talked about here will help

894
00:31:54,000 --> 00:31:58,000
typically the only way to know for sure

895
00:31:57,000 --> 00:32:02,000
if your startup idea is good is to Just

896
00:31:59,000 --> 00:32:03,000
Launch it and find out so if after all

897
00:32:02,000 --> 00:32:04,000
this you've got a startup idea and

898
00:32:04,000 --> 00:32:07,000
you're still kind of on the fence about

899
00:32:05,000 --> 00:32:09,000
whether it's actually a good idea or not

900
00:32:07,000 --> 00:32:11,000
that is my advice for you just launch it

901
00:32:09,000 --> 00:32:22,000
and find it

902
00:32:12,000 --> 00:32:22,000
[Music]