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After reading that I still don't know the concrete definition of Startup. Is it an idea? I have many ideas that I have jotted down over the years. Are all those
by therandomguy 14y ago
After reading that I still don't know the concrete definition of Startup. Is it an idea? I have many ideas that I have jotted down over the years. Are all those Startups? Or do I need to execute? The post suggests that if someone is building something that already exists then it is not a startup. Why? Is Hipmunk a startup? There already exists many travel search engines. You might say they have a unique spin on something that exists. Your hotel idea with a treadmill in every room had that as well.
- rprasad 14y agoThere is a legal definition: a newly formed business that has not begun its intended normal business activities. Legally, and in the tax code, a "startup" has various advantages that established businesses do not (i.e., for example, in some states a startup does not pay income taxes for its first year). If you want to add more to the definition...that is a philosophical battle that will never be resolved decisely for any specific extended definition.