Everywhere I look online or on TV, every radio station I listen to, every person I talk to, talks about this awful economic crisis. None of us are exempt from it. As it pertains to startups, there has been guidance by venture folks to their portfolios, to conserve, focus and create financial runway. If you're an entrepreneur, all this might be scaring the sh*t out of you. You're not alone. But let me offer a perspective, that may provide something we can all use: hope.
Great companies get built during these times!
-When the Internet bubble burst Google were hard at work doing something very few people thought the world needed, 'yet another search engine'. Search was the core competency of some of the bubble's biggest hits.
-When Skype was founded, the bubble had burst and they were building something all of the largest Internet companies already had: a soft phone. 'Why so we need another one of those, when the quality always sucks, and the big players have all the users already?'
-While Paypal started in that magical year of 1999, most of their funding and critical growth took place post bubble. 'Are the masses really going to change their behavior and adopt this online payment thing?'
-In late '03 I met the facebook team inside the conference room at Worldview. They were at work building yet another social network. 'Why would we need one of those when we already have Friendster and Myspace?'
-It was barely the tail end of the nuclear winter in the valley when YouTube got started. People had been talking about video applications for ages, 'when's it really going to take off?'
Why? Because they kept their heads down and focused on changing the game.
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