In order to give focus to some major changes she sees on the horizon, Sramana Mitra has written several pieces that grew out of her original article, Man and Superman: Human History Bifurcates. Please share your thoughts and help get the conversation going.
In the first segment of this series, I said that human history is about to bifurcate into two distinct classes: the wealthy, powerful, highly educated class that will come to dominate the future; and the useless zombie class that will be the planet’s majority.
Let’s explore this in some detail.
Startups are very complicated. Getting to product-market fit is by no means a predictable process. How and when to pivot involves a complicated set of decisions.
First-time entrepreneurs usually are not master strategists.
But persistence is a requirement.
Watch this inspiring 1 minute 23 second video of how Adam Singolda persisted.
In those, I said that I am optimistic about the next couple of decades. I believe, strongly, that entrepreneurship and entrepreneurial capitalism can be democratized, and wealth can be created in the middle of the pyramid using capitalistic principles. In the next 2-3 decades, the potential for distributed capitalism is very high and the outcome should be extremely positive around the world. That is the mission upon which my current work with One Million by One Million is based.
However, there is tremendous inequality due to technology and automation on the horizon. In the 30-50 year timeframe and beyond, technology and automation will create tremendous disruption. 60-80% of ALL jobs will, likely, get automated. Now that is a scary situation.
TechStars rejects 98% of all applications.
Is there a strategy for raising your odds of getting into TechStars?
The short answer is yes.
Watch this 1 minute 22 second video on how Nevin Shetty, CEO of Blueprint Registry, bootstrapped to validation, traction in fact, before applying.
Let’s say you have a great idea for a startup and you have the ambition of building a billion dollar company — a Unicorn. Should you immediately quit your job and jump in with both feet?
Or should you bootstrap this idea with a paycheck to validation? May be to profitability? Is it even possible to bootstrap a Unicorn startup with a paycheck? Has anyone ever bootstrapped a Unicorn with a paycheck?
Let’s say you have a great idea for a startup and you have the ambition of building a billion dollar company — a Unicorn. Should you look for investors?
Or should you bootstrap this idea to profitability? Is it even possible to bootstrap a Unicorn startup? Has anyone ever bootstrapped one?
I suggest you start by bootstrapping your idea.
That would give you options: you can either bootstrap all the way, or bootstrap first, validate, raise money later. Investors tend to chase validated businesses.
Here is an example of a bootstrapped Unicorn in this 56 second video. Investors have chased this entrepreneur for years and years and years.
Let’s say you want to build a great tech company. Should you start by moving to Silicon Valley? Or, can you do it from right where you are, right from your own hometown?
I suggest start validating your idea and building from right where you are. Today, it is no longer necessary for ambitious entrepreneurs to be in Silicon Valley. Great tech companies, even billion dollar Unicorns, can be built from anywhere.
Today, Silicon Valley outsiders can knock over their Silicon Valley competition with proper knowledge, precise strategy. Knowledge will always win over location.
This 1 minute 34 second video proves my point. Have a look.
There are always competitors who have been longer in the game and who are better funded. But it doesn’t mean they will be the winners in the marathon.
A startup is a marathon, not a sprint.
Gobs of VC money never guarantees a startup’s success. A nimble upstart can beat a well funded competitor with a superior strategy.
Here’s a 1 minute 21 second video that explains further: