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There's a word for that: a business. If someone built a bar in your neighborhood, would you call it a startup? It meets all your criteria. But at that point th
by sillysaurus3 9y ago
There's a word for that: a business.
If someone built a bar in your neighborhood, would you call it a startup? It meets all your criteria. But at that point the word becomes useless.
You could argue that it's not a new service. Yet some of the most successful startups applied technology to old ideas, like Craigslist and eBay.
- rimliu 9y agoNew bar would still offer the old service (beer). Startup will offer new product/service.
- nip 9y agoA startup is a business with a high growth potential, otherwise it's just a business as already pointed out by @sillysaurus3. If tomorrow 250 people are queuing to get a drink from your bar, you won't be able to cater to their needs, nor the next day, opening a new brick-and-mortar business takes a lot of time. A startup would be able to scale (after a couple of days / week) and fulfill the customers' needs.
- joshyeager 9y agoPG invented that definition when he started YC. It's a good definition, and useful in the VC world. But it's not the original definition, and most of the non-VC/Valley world still uses the original one: a business that is trying to build something new, whether it's aiming for big growth or just a steady new market.