What problem do we solve

1. The great impact on human beings
   1. It should affect many people or can change their lifestyles. It could have a huge impact on humanity.
   2. We will tackle the problem regardless of the current size if its impact is large in the future. Customer feedback, gut instinct, and in-depth research can all provide clues.
   • Why do bold and ambitious goals matter?
2. Hard startup is easier than easy startup. And it could create bigger impacts.

How could we address the problem?

Source: https://miro.com/app/board/uXjVPG4WYCw=/?share_link_id=629036046195

<aside> ⚡ Reminder

Before reading this article, startups are non-linear organizations organized to achieve their goals quickly and effectively.

</aside>

<aside> 🔥 Finding PMF in a startup means you have clear answers to the three questions below.

1. Get to know your customers and their needs specifically, and find solutions that will make them feel extremely satisfied.
2. Once they find a solution that makes them extremely happy, they look for ways to get lots of repeat customers.
3. Find a way to make money while you're doing it, or after you've done it. </aside>

Once you've answered these three questions, you can start thinking about how you can continue to scale to a global audience. Answering these questions will continue in the next part of the journey.

1. Generating Ideas

1. Find a large highly fragmented industry w low NPS; vertically integrate a solution to simplify value product.

   https://twitter.com/rabois/status/870673635375104000?s=19

   • Ex) Nubank offers better financial services rather than traditional banks in Brazil. Facebook provides a more stable service than My Space. FTX offers more stable trading product than Bitmex, a previous pioneer for derivative trading systems.
   • There are a number of communities where we can find this idea, such as Naver Cafe, Reddit, and others. The first internet community was built on specific sites such as Craiglist, Naver, Daum, etc. Those communities often have needs people have in their daily lives if you dig deep enough.

2. Could we make 10x better, cheaper, faster anything

   1. Better:
      1. Tech Excellence: Google, Dropbox
      2. Niche Market: Discord, Airbnb, FTX, Upbit, Coinbase
   2. Faster:
      1. Beat paper and pencil: Flexport
      2. Overload supply: Uber (More Drivers)
      3. Technical Excellence: Facebook
   3. Cheaper:
      1. Tech cost curves: Shopify
      2. Emergent Behavior: Lyft(Group Sharing), Instacart(Mobile)
      3. Trade margin for market share
         1. Amazon(Offline Stores), Robinhood (0 Trading fee)

3. Bring the future to the present

   1. Think about the future and precisely map out idea maze, well developed, multi-year plans that contemplate many possible paths.
   2. To precisely map out the idea maze, there could be several ways.
   3. Learn from history. Most ideas have been executed at least once in history. Learn what did well and what didn’t. The more you publically open your ideas, you can learn from people who experienced it before. Learning others’ ideas maze outweigh the risk of your idea being stolen.
   4. We can also learn from analogy. If you build peer economy, what Airbnb did might help. And if you build a marketplace, you should understand eBay’s beginning.
   5. The history of tech startups is over decades. Smart observers make some theories based on generalized data. You can find this information at investors’ and entrepreneurs’ blogs.
   6. Put yourself in your idea and give yourself time to figure it out.

4. Copy other ideas.

   1. Picasso said ‘Good artists copy, great artists steal. And Jobs also said ‘we have always been shameless about stealing great ideas.’
   2. Many unicorn startups copied original ideas and expand their business into other areas or change a few original ideas.