3 ms·
So instructions on making a successful company in 2017: 1. Spot a non-trivial expense type applicable to most Fortune 500 companies. 2. Make a startup offerin
by john_moscow 9y ago
So instructions on making a successful company in 2017:
1. Spot a non-trivial expense type applicable to most Fortune 500 companies.
2. Make a startup offering the same thing under the cost.
3. Use your network to get sales people that personally know exec-level people from Fortune 500 and will pitch the product to them.
4. Get them to sign up. Of course they'll do, you're offering it under cost at the investors' expense.
5. Show impressive revenue and customer base growth and forget the word "profitability".
6. Make an IPO and cash in before the public realizes that your might have been selling dollars for ninety cents.
Who's left holding the bag? Average Joe, who's pension fund ended up investing in a promising technology company showing exemplary revenue growth over an extended time period...
- ragnarok451 9y agoTo be fair, Average Joe's pension fund was probably invested in one of the VCs that who cashed out at the IPO too. So Average Joe likely still benefits at the end of the day.