I’ve always been interested in tapping into the “crowd” to fund things that need to happen and that our current institutions can’t figure out how to support. Our investment in Kickstarter back in 2009 is an excellent example of that. In the last thirteen years, Kickstarter has helped direct $6.2bn towards creative work that would not have been funded by the legacy institutions that support creative work. That has led to all sorts of interesting projects which are too numerous to mention here.
The “valley of death” is a common term in the startup world, referring to the difficulty of covering the negative cash flow in the early stages of a startup, before their new product or service is bringing in revenue from real customers. I often get asked about the real alternatives to bridge this valley, and there are some good ones I will outline here.
it’s much better to assume competence. That’s how we learn. The truth is that we all get disrupted sooner or later. It doesn’t only happen to silly people. Every square-peg business eventually meets its round-hole world. Smart, competent people fail all the time and, if we want to have a chance at avoiding their fate, we need to understand how that happens.
, disruptive innovation occurs when a new offering caters to an overlooked customer segment through providing greater accessibility – which might come in forms such as low price, ease of learning, extreme convenience, and so on.