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Since beginning to learn about the startup community I have heard this mantra pushed over and over, and I continue to disagree. There are many ideas that requir

by jiganti 16y ago

Since beginning to learn about the startup community I have heard this mantra pushed over and over, and I continue to disagree. There are many ideas that require good execution for their success, but being first in a new space is extremely valuable. I've heard and agree with ideas being a multiplier of execution.

mkramlich 16y ago
I think everything is multiplier: idea X execution X timing X who-you-know X "luck" X previous-audience X how-early X market-size X etc.
- michael_dorfman 16y ago
  In that case, you may want to revisit your original formulation, Ideas are worth pennies. It's time, energy and execution that are worth something. Time, energy and execution thrown at a bad idea will not be worth much more than a good idea sitting in a notebook.
  - mkramlich 16y ago
    idea: web search that gives the best results, fast, combined with ad space we sell time/energy cost to have that idea: minutes? execution: none revenue: 0 now same as above but: executed in late 90's: revenue: $billions for Google executed in 2010, once Google exists: revenue: hard to say, but prob OOM's less than Google idea: i'll go work for McDonald's time cost to have idea: seconds/minutes execution: 20-40 hrs/week, no prev experience needed revenue: ~$1000/month another example: idea: cold fusion!!!!!! execution: no follow through revenue: zero VS. idea: classified ads ... but on the web!!!! execution: pretty standard, obvious, simple, blah (Craigslist) revenue: $millions? another one: automatic file syncing across machines? useful idea, not revolutionary most execution? blah DropBox execution? golden Amazon. Idea: you can buy things on the web and we'll mail them to you! Duh/blah/meh. Amazon's execution & timing: nailed it. some ideas have the potential to make more money than others, sure. but execution is way more important, and arguably timing has a bigger OOM effect as well.
    - michael_dorfman 16y ago
      idea: web search that gives the best results, fast, combined with ad space we sell First of all, that's two ideas. Second, each of those ideas was far more precise than that-- remember that AltaVista and Lycos, for example, had very different ideas about how to "give the best results" and "sell ad space". In other words, getting from the vague wish expressed in "best results" to an actual algorithm capable of being executed is worth quite a lot. For every "Dropbox" you can name, with a "not revolutionary" idea and golden execution, I can name you a "Pets.com" with a crappy idea and golden execution that failed. I'm not by any means discounting the importance of execution (or timing), but some ideas have the potential to make more money than others is a hell of an understatement, if you ask me. We don't need to minimize the importance of ideas in order to remind people that the ideas aren't worth anything without good execution.
nostrademons 16y ago
Actually, I think that being first in a new space is a bad place to be in. Being the first good entrant in a space is worth something, but almost all ideas are shitty when they're first dreamed up, and coming later gives you the ability to look at other people's failures - in some cases, lots of other people's failures - and see how you can make them better. Google was not the first search engine. Microsoft was not the first microcomputer OS. Facebook was not the first social networking site. Netscape was not the first web browser. Flickr was not the first photo-sharing site. OKCupid was not the first online dating site. The Apple II was not the first microcomputer, the iPod was not the first MP3 player, and the iPhone was not the first smartphone.
- mkramlich 16y ago
  Agreed. It may be a little better to be the Nth entrant, but still be fairly early, but just be way way way better (or have the luck of your market is perfectly timed for when a large gob of new consumers are ready and demanding your thing) than the first N-1 contenders.

by jiganti 16y ago

mkramlich 16y ago

I think everything is multiplier: idea X execution X timing X who-you-know X "luck" X previous-audience X how-early X market-size X etc.

michael_dorfman 16y ago
In that case, you may want to revisit your original formulation, Ideas are worth pennies. It's time, energy and execution that are worth something. Time, energy and execution thrown at a bad idea will not be worth much more than a good idea sitting in a notebook.
- mkramlich 16y ago
  idea: web search that gives the best results, fast, combined with ad space we sell time/energy cost to have that idea: minutes? execution: none revenue: 0 now same as above but: executed in late 90's: revenue: $billions for Google executed in 2010, once Google exists: revenue: hard to say, but prob OOM's less than Google idea: i'll go work for McDonald's time cost to have idea: seconds/minutes execution: 20-40 hrs/week, no prev experience needed revenue: ~$1000/month another example: idea: cold fusion!!!!!! execution: no follow through revenue: zero VS. idea: classified ads ... but on the web!!!! execution: pretty standard, obvious, simple, blah (Craigslist) revenue: $millions? another one: automatic file syncing across machines? useful idea, not revolutionary most execution? blah DropBox execution? golden Amazon. Idea: you can buy things on the web and we'll mail them to you! Duh/blah/meh. Amazon's execution & timing: nailed it. some ideas have the potential to make more money than others, sure. but execution is way more important, and arguably timing has a bigger OOM effect as well.
  - michael_dorfman 16y ago
    idea: web search that gives the best results, fast, combined with ad space we sell First of all, that's two ideas. Second, each of those ideas was far more precise than that-- remember that AltaVista and Lycos, for example, had very different ideas about how to "give the best results" and "sell ad space". In other words, getting from the vague wish expressed in "best results" to an actual algorithm capable of being executed is worth quite a lot. For every "Dropbox" you can name, with a "not revolutionary" idea and golden execution, I can name you a "Pets.com" with a crappy idea and golden execution that failed. I'm not by any means discounting the importance of execution (or timing), but some ideas have the potential to make more money than others is a hell of an understatement, if you ask me. We don't need to minimize the importance of ideas in order to remind people that the ideas aren't worth anything without good execution.

nostrademons 16y ago

Actually, I think that being first in a new space is a bad place to be in. Being the first good entrant in a space is worth something, but almost all ideas are shitty when they're first dreamed up, and coming later gives you the ability to look at other people's failures - in some cases, lots of other people's failures - and see how you can make them better. Google was not the first search engine. Microsoft was not the first microcomputer OS. Facebook was not the first social networking site. Netscape was not the first web browser. Flickr was not the first photo-sharing site. OKCupid was not the first online dating site. The Apple II was not the first microcomputer, the iPod was not the first MP3 player, and the iPhone was not the first smartphone.

mkramlich 16y ago
Agreed. It may be a little better to be the Nth entrant, but still be fairly early, but just be way way way better (or have the luck of your market is perfectly timed for when a large gob of new consumers are ready and demanding your thing) than the first N-1 contenders.