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Works well if your startup is filling in a niche within an existing industry. Does not work well if your startup is creating a new industry. There is a reason
by nostrademons 6y ago
Works well if your startup is filling in a niche within an existing industry. Does not work well if your startup is creating a new industry. There is a reason why the failure rate for the latter situation is abysmal. But that is also the reason why the returns are so large and sought-after for that situation.
- jellyksong 6y agoWhy doesn't this work for new industries?
- nostrademons 6y agoIt's hard to "get to know an industry, see a need, design a solution, bounce your ideas off people in the industry" if the industry doesn't exist yet.